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By June 27, 2022 Uncategorized 0 Comments

Bitcoin Domination Is At An All-Time Low!

Bitcoin, which opened its eyes with the manifesto published by Satoshi Nakamoto in 2008, has been having troubled days in recent weeks.. The star of the digitalized world is experiencing one of the most ineffective situations in the crypto money market due to factors such as the loss of value and the appreciation of other crypto currencies. Bitcoin, which has a high value, started to lose its power in the market as its companions developed their technologies. With the market volume doubling 3-4 times in a few days, the dominance of Bitcoin is gradually disappearing.. Bitcoin’s activity in the market has now regressed to 38 percent;

When we examine the chart, we see that Bitcoin has been so ineffective for the first time since the beginning of June.. So why has Bitcoin been losing value lately? Let’s try to find an answer to this question together.

The Main Reasons for Bitcoin’s Depreciation

There is a lot of speculation in the market about Bitcoin’s depreciation.. I will give you my own thoughts/scenarios. Possible reasons for the decrease of Bitcoin’s influence in the market and its regression from $20,000 to $13,000; Although it is welcomed with joy that it is opened, it is useful to remind that these transactions are not as innocent as they seem.. First of all, there is no need to use Bitcoin in future Bitcoin transactions.. The parties are betting on the future price of Bitcoin, and the one who guesses more accurately gets the winnings in dollars. Bitcoin is just a decoration here.

  • This is just a scenario I’m going to write… Whales may have followed such a strategy.. If you have enough Bitcoin to affect the market and you try to sell this high amount of Bitcoin at $ 20,000 or $ 19,500, you may cause a decrease in the price of Bitcoin, as we explained in this article.. In this way, you can sell at the top and make a profit.. On top of that, if you have predicted that the price of Bitcoin will decrease in Bitcoin futures transactions, you can almost double your profits in an instant…
  • And is all this the fault of external factors? No it is not. With the increasing interest in Bitcoin, Bitcoin transfers began to fail, over 300,000 transactions were suspended, transfer fees rose above $ 30. As such, users began to turn to fast alternatives to Bitcoin and the influence of Bitcoin in the market began to decrease.
  • Altcoins are developing their technology much faster than Bitcoin. Although the Bitcoin Core team is trying to develop Bitcoin, even the SegWit update has not been realized on platforms such as BitPay and CoinBase.. Although Bitcoin is the king of digital currencies, the recent depreciation of coins such as IOTA, Ripple and Cardano, which serve different purposes, has damaged the dominance of Bitcoin.
  • Finally, it is necessary to add Roger Ver to this list.. Bitcoin.com’s CEO is using every trump to promote Bitcoin Cash. Arguing that Bitcoin lost its purpose of creation due to its slowness and high transfer fees, Ver made two important moves regarding Bitcoin Cash last month.. First, BitPay added Bitcoin Cash as a payment method, then CoinBase (although later removed) / Gdax added Bitcoin Cash to its exchanges. With these moves, there was a sudden influx of money from Bitcoin to Bitcoin Cash, and BCH rose in value by almost $1000.

    • Is the End of Cryptocurrency?

    Absolutely not , we’re just getting started The main reason behind Bitcoin’s depreciation is actually that the cryptocurrency community has become more conscious and started chasing new technologies.. Not to mention the promotional budgets of altcoins…

    Although Bitcoin’s lack of any centralized location is a plus for him, it is obvious that there are problems in decision-making and implementation.. Lightning Network seems to be the biggest hope for overcoming the problems experienced by Bitcoin for now.

    We can predict that Bitcoin will increase its influence in the market again in 2018, because although the awareness of the cryptocurrency community has increased, newcomers to this community are still considers all cryptocurrencies as Bitcoin…

    Romanian Central Bank: Bitcoin Not Available for Payments

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