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Bitcoin shall always dominate the cryptocurrency world

May 02, 2018 Posted /  1969 Views

Bitcoin shall always dominate the cryptocurrency world

Blockchain technology is undoubtedly transforming the way in which the digital transactions occur. Bitcoin, being The pioneer in the implementation of the blockchain technology is surely the most dominant cryptocurrency till date. However, the fact is undeniable that other cryptocurrencies are undergoing huge volumes of the transaction but Bitcoin is still the best option. 

The reason why Bitcoin is always a better option is that it has something called the “first mover advantage”. All the other cryptocurrencies might be the improvised version of Bitcoin but Bitcoin is well known due to its popularity and no matter what, it will remain to be a dominant cryptocurrency even in the future. 

Bitcoin also has the highest market capitalization when compared to all the other cryptocurrencies in the world. This level of saturation has made the Bitcoin market somewhat lesser volatile and hence more stable. therefore the market values are more predictable with respect to Bitcoin and hence Bitcoin has an advantage over its counterparts. 

Although the some of the great financial authorities throughout the world have expressed their distaste regarding the cryptocurrency world, it is just inevitable that the adoption of cryptocurrencies will be more and more in the future. 

Bitcoin has also reached an all-time high of almost $20,000 which the other cryptocurrencies have not even come any near to it. 

It is also assumed that most of the forks of the Bitcoin which were done to solve the problems of the Bitcoin are better versions then the Bitcoin, but there is a catch, the developers think that the Bitcoin forks are better than Bitcoin but they don't realise the fact that all of them inherit the core problems of the Bitcoin itself. 

In this modern world where consumers are attracted towards the products through various kinds of manipulations like advertisements, bombarding them with offers, and value-added services, it is difficult to be a decision maker these days, even when it comes to the cryptocurrencies as well. The various organizations can also direct the behavior of the customers not only through manipulation but through inspiration as well. 

The great visionary behind this revolutionary Technology Mr. Satoshi Nakamoto had launched Bitcoin so that the world might experience a transaction less, government less, and a completely reliable and trustable network for the transaction of value. 

Bitcoin as a very stable coin as it has a limited supply of coins being just 21 million. Therefore it is no doubt that the value of Bitcoin will steadily increase due to the reason that it has a fixed market cap and also the demand is predicted to rise steadily. 

Also, there are very high chances of getting trapped into the Ponzi schemes if we think about investing in some other altcoins. Therefore Bitcoin investment, to an extent, provides reliability and security too. 

In a nutshell, any kind of investments are subject to market risk and also on the scheme related documents must be read carefully. Any informal advice shall not be considered and we must always consult a professional in the field before investments in any kind of market so as to reduce a risk of losses.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: blockchain technology transaction volumes higher for altcoins

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