Cryptocurrencies are one of the biggest inventions of the modern era, there is no denying that. They enabled us to complete instant transactions online and save a lot of money in the process. How? They are not controlled by any bank or government, so when trading with cryptocurrencies, people avoid all of the extra and/or hidden fees applied. Not only that, but traders also enjoy a certain level of anonymity with every completed transaction.
The most popular cryptocurrency today is Bitcoin. It was created in 2008 by an unknown person that goes by the pseudonym, Satoshi Nakamoto. It is rumoured that this person is a male in his 40s and many believe that he is either Japanese or Chinese.
Bitcoin is used by millions of people around the world, which makes it the most dominant cryptocurrency on the market. In a world where there are thousands of currencies just as Bitcoin, many wonder how does this one remain the top choice for so many people. Let’s take a look at some of the reasons.
Stability
The first reason as to why Bitcoin is the top choice is because the cryptocurrency is by far the most stable on the market. Numerous online businesses and global brands accept Bitcoin as a payment method, which is why it is almost impossible for it to fall and become unstable.
Even in times when Bitcoin was going through a downfall, it remained the top choice for many traders and maintained a high value. This was in 2018 and halfway through 2019, after the cryptocurrency collapsed and had a value of around $5,000. Now, that value is below Bitcoin standards, which is why we stated that it was a downfall, but it was still well-beyond all other cryptocurrencies.
Furthermore, there are plenty of credible platforms where you can buy, sell, and trade Bitcoins. One of the most reputable platforms is Bitcoin Evolution UK . This site generates high-profitable AI-powered algorithms and its platform is easy to use. Thousands of people around the world are trading here and a big majority of them have amassed huge amounts of profit thanks to their support.
Institutional Interest
The one thing that differentiates Bitcoin from other cryptocurrencies and adds to its stability is the institutional interest. Allow us to explain. A big majority of cryptocurrencies are still illegal in many parts of the world. That is not the case with Bitcoin. Bitcoin is accepted in almost every part of the world.
Not only that, but some governments have fully used its potential and went one step further. They started trading with this cryptocurrency in hopes that it will bring a profit to them. Thanks to the institutional interest and its legality, Bitcoin is far more stable, thus having increased value, thus being the better option for almost every trader.
Value
Finally, we wanted to mention the top choice as to why people are so eager to trade with Bitcoin – its value. As you know, this cryptocurrency is by far the most valuable on the market. Right now, the value for 1 Bitcoin sits at around $10,000, which is much more than any other cryptocurrency.
Back in 2017, Bitcoin reached its peak after spiking in a matter of days and reaching its biggest value in history on December 27. During this time, its value was over $19,000. After the market was overflown, Bitcoin went through the aforementioned unstable period, but after just a year it stabilized and started rising again.
These days, many experts believe that Bitcoin will rise even more and it will likely top the 2017 record in value. Several indicators lead them to this conclusion. Its volatility rate was recently at its second-lowest (the first one was in 2017 when Bitcoin reached its record value). Furthermore, Bitcoin is getting far scarcer, the institutional interest is far greater than the one in 2017, and its hash rate is stabilized.
All of these factors combined lead the experts to believe that Bitcoin will reach another peak. Considering the fact that its value has been constantly going up for the past year and a half, this comes as a no surprise. Most of the experts believe that Bitcoin’s value will peak and go over $20,000, but some believe that it can go as high as $50,000.
