Will Bitcoin keep rising? It’s a question that reverberates around the world. Especially after the question ‘Will Bitcoin split?’ was answered with a unanimous yes. After the split was announced and everything has ostensibly worked out perfectly. We see that the faith in Bitcoin has only been confirmed. With Market Share at the time of writing slipping to the other side of fifty percent.
When will Bitcoin crash? Is Bitcoin a bubble? These are all questions that surround the zero block currency. The real question should be, how are these other coins purchased. At the moment, primarily, there are only two ways to purchase altcoins such as OMG or QTUM. You have to buy Bitcoin and transfer it into Bitcoin. It’s the only way to get them. All of the major exchanges make you first purchase Bitcoin or Ethereum before swapping it for an Altcoins.
An understanding of this at its most basic explains why the price of Bitcoin keeps increasing. It’s the gateway drug to all of the other Cryptocurrencies out there.
ICO’s or initial coin offerings are similar in one respect. The majority upon making their offering doesn’t ask for dollars or yen. They ask for Ethereum or Bitcoin, with the currency held in trust in order to fund their development cycles. The majority of these companies have relatively transparent books, showing exactly how and when they’ve spent their money. They also show a clear overview of what’s left in the coffers.
So now we have a basic understanding of the why and how Bitcoin makes money. We can see that Bitcoin will be around for a very long time. If not as a primary Blockchain for the application layer, but as a legacy of the base infrastructure of this burgeoning financial tool.
This gives us a glimpse into how the market will react, what the flags in the system are and what we should look out for. This is a point of understanding the market and you should seek out independent experts and advice in order to understand these markers fully.
From twenty-five to thirty you should learn from a boss. From thirty to fourty you should do what you’re good at. The thing about Cryptocurrency is that you’re going to have compress that timeline greatly. The time is now and it’s going to go by quick.