Bitcoin market commentary
Bitcoin $23, (+%) Ethereum $ (+%) Tether $ (+0%) XRP $ (%) Litecoin $ (+%) Bitcoin Cash $ (+%) Chainlink. Nov 02, · Global markets tumbled midweek as continued fears of further coronavirus lockdowns rattled investors. Contrastingly, bitcoin made a dramatic surge towards $14, before dipping back down to $13, Towards the end of last week, we saw . Market Watch: Ripple (XRP) Crashes 20% and Loses The 3rd Spot to Tether Dec 23, ; Bitcoin’s Supply Liquidity Crisis is Extremely Bullish For BTC Price, Says Glassnode CTO Dec 22, ; Market Watch: Bitcoin’s Recovery Fragile as $40 Billion Wiped Off Market in 24 Hours Dec 22,
Bitcoin market commentaryBreaking Bitcoin News with Exclusive Commentary
If buying pressure does not increase, Bitcoin will make a move to refill the gap, as it has happened in the past. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The cryptocurrency market slipped into a red zone, with all major altcoins nursing significant losses. Stablecoins may pose risks to "international monetary stability". In the recent statement, the Treasury-based working group that makes federal regulators recommends taking actions to ensure that stablecoins do not undermine the confidence in national fiat currencies.
Although it has plenty of competition from neighboring altcoins, Bitcoin has continued to hold its position at the top. Bitcoin has faced regulatory risks for the past decade. However, it's decentralized model makes Bitcoin difficult to regulate. Bitcoin does not have a 'team' to network and make connections, but it does have a well-developed network of coders who maintain and update the network as needed.
The Bitcoin network is maintained by a group of volunteer coders as well as an open network of inspired and dedicated users across the globe. Bitcoin's sophisticated group of volunteer coders work together to run the blockchain network. They have successfully maintained the network for years. The volunteers working on Bitcoin operate on a decentralized basis, using the votes of other nodes to help make decisions when updating the network.
It is about as democratic of a system as one will find. Bitcoin's blockchain is the fundamental reason the digital currency has garnered so much popularity and value. It's by no means a 'copycat' token, but Bitcoin no longer offers the unique advantages it once did because of the rise of altcoins. Thousands of altcoins now have better TPS and higher quality platforms for building decentralized apps.
Having said that, Bitcoin is still the original cryptocurrency and both the token and blockchain hold equal levels of importance. Bitcoin has one of the simpler blockchain protocols since it was the first to actually exist.
It's also one of the easiest coins to use for transactions because so many vendors, apps, and retailers have integrated it as a form of payment. Arguably, Bitcoin has its own halo effect as it is the world's first decentralized digital currency and the strongest brand in the digital asset markets. Bitcoin is the most talked about digital asset by far.
In fact, Bitcoin is mentioned on social media every three seconds. Problem that it solves Bitcoin was created to enable anyone in the world to store, send and receive funds without the need for a financial intermediary. Customers Bitcoin can be used by investors as an asset class, by retailers and merchant as a payment method, and by individuals as a form of alternative money. Value creation Bitcoin holds intrinsic value due to a few of its unique properties. Market structure The market structure for Bitcoin is often a topic of debate.
Market size Bitcoin, without question, has the largest market of any digital currency. Regulatory risks Bitcoin has faced regulatory risks for the past decade. Average Market Score Average the six scores above. Lead time advantage Bitcoin has the strongest lead time advantage of all digital assets as it was the first.
Contacts and networks Bitcoin does not have a 'team' to network and make connections, but it does have a well-developed network of coders who maintain and update the network as needed.
Average Competitive Advantage Score Average the three scores above.