BTC remains the most valuable and profitable of all cryptocurrencies, which will be the case for a long time. The price, market volume, and market cap of bitcoin are far higher than other cryptocurrencies. Even though there are thousands of other coins in the market, bitcoin still accounts for more than 40% of the crypto market cap, making it an ideal investment option for beginners and experts in cryptocurrency.
It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.
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There are many cryptocurrency exchanges and wallets that provide great features for trading and investment, but one of the main platforms is Binance. Founded by Changpeng Zhao, a developer who built a number of different investment tools, the platform has grown massively over the years. One particular question remains: Binance vs. Binance.US.
Bitcoin’s (BTC) price hit another all-time high at $69,000, while Ether (ETH) continued its long slog toward $5,000 after reaching a new high at $4,868 earlier on Wednesday. Shortly after hitting this fresh milestone, however, traders began taking profit, leading to a nearly $7,000 drop, which plunged BTC’s price below $63,000.
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Often, they coordinate with these outlets and have a few moles in the forums whose sole purpose is to get people excited about their projects so more start buying their coins, causing the price to rise.
While paying for things in cryptocurrencies doesn’t make sense for most people right now, more retailers accepting payments might change that landscape in the future. It’ll likely be much longer before it’ll be a smart financial decision to spend Bitcoin on goods or services, but further institutional adoption could bring about more use-cases for everyday users, and in turn, have an impact on crypto prices. Nothing is guaranteed, but if you buy cryptocurrency as a long-term store of value, the more “real world” uses it has, the more likely demand and value will increase.
“This is a legitimate technology–it’s going to expand,” he says, “My longer-term view is nowhere near where some of [my current] views are.” It could even perhaps hit $10,000 again, he says. But that will probably take a few years. For now, we wait and see.
In this articleWhat Does This Price Drop Mean for Crypto Investors?What If You Haven’t Yet Invested In Crypto?What’s Behind the Latest Bitcoin Drop?
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The goal is to keep the average interval between new blockchain creations steady at a predetermined level. Bitcoin’s is 10 minutes, for instance.
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It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.
Investors that may have once dismissed it, ought now to consider taking part in it