You’ve probably read about Bitcoin before, considering the popularity of digital currencies and the abundance of cryptocurrency news available across the internet. But you might not have come across an article that is designed specifically to change your mindset about Bitcoin and other cryptocurrencies.
My primary objective isn’t to start diving into the intricate background of what created Bitcoin and what it all means. What this article is meant to do is to explain to you the top reasons that you should be investing in this miraculous cryptocurrency, as per the advice of leading digital currency news outlets like DCForecasts.com.
Bitcoins Birthed All Other Cryptocurrencies:
Bitcoin is the undeniable mother of all cryptos. Not only is it the most well known of cryptocurrencies, it is the one that emerging cryptosystems are trying to emulate. Bitcoin’s open source code is a base made available for other developers to build on. So any new crypto that is released is essentially an (essential) alteration to the original Bitcoin code. A decade ago, there weren’t even any rivals to Bitcoin in the digital currency market.
No Third Parties:
No established government can control or regulate Bitcoin or other forms of cryptocurrency. Bitcoin databases keep every redundant copy of a transaction, making regulation unnecessary. This also benefits investors because it means that the government cannot freeze their wealth.
Bitcoin is The Digital Reserved Currency of The Internet:
In the financial market, what is the base currency for transactions? It is the currency of the region, for instance, US dollars.
Cryptocurrency news sources revealed that Bitcoin is the base currency for transactions in the cryptocurrency world. Being the reserve currency of the internet, cryptocurrency is listed and priced in Bitcoin, due to the high volume and liquidity of the market.
Exchanges feel more confident about making transactions in Bitcoin. This continues to develop the demand for Bitcoin.
Compared to other transaction forms, Bitcoin charges cost little. Since there is no third party involved, users can move Bitcoin back and forth to pay for goods and services without incurring extra charges.
Bitcoin is Traded on Wall Street:
The Wall Street Market lists two financial instruments backed by Bitcoin, getting the Bitcoin Electronic Tradeable Note listed in the stock exchange.
Just like there are no transaction fees, there are no taxes on Bitcoin transactions because there are no third parties involved. Government agencies are also unable to influence the transactions.
Are you ready to invest in the greatest cryptocurrency on the market that is still experiencing growth today? If so, start by checking out some of the incredible crypto news resources and guides available at https://www.dcforecasts.com/.
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Bitcoin Goes Below And Above $4,000 Again: What’s Causing This Fluctuation?
- Hourly MACD – The MACD is slowly moving in the bullish zone, with a positive bias.
- Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently correcting higher, but it is still well below the 50 level.
- Major Support Levels – $3,950 followed by $3,920.
- Major Resistance Levels – $4,000, $4,020 and $4,060
Bitcoin (BTC) Is Likely To Surge To $400k, According To Prominent Analyst
“$BTC Weekly Chart. Gandalf is holding $BTC below the mid $4,200 level. Bitcoin shall not pass the current resistance. So my target for the next drop has an aim at previous support near mid $3,500s,” he explained.https://twitter.com/Josh_Rager/status/1108205671659569152 Another chief market analyst at Think Markets UK named Naeem Aslam, also spoke about the key importance of the $4,000 level, noting that it will set a trend for which direction the markets could head next. As he said:
“Questions are being asked constantly when it comes to Bitcoin’s battle with the $4000 mark. The result of this battle sets the tone for a bullish or bearish trend. This price level has become a matter of death or life for crypto traders.”Aslam also believes that Bitcoin could eventually surge as high as $400k, even though the current price indicators don't show that. He explained:
“I personally believe that each Bitcoin can go up as much as $400K and if history repeats itself, this number is not a fool’s paradise. This is a simple math calculation: approximate percentage projection of the price which we experienced during the last bull run.”Another popular figure in the crypto industry named Ryan Selkis, spoke about the absurdity of purchasing a bottom in times when BTC has a massive potential. As he tweeted:
“I’d be extremely surprised if the bottom wasn’t in for this $BTC bear market. If you’ve been on the sidelines, what are you waiting for if not now? If you’re a long-term bull, the 5 year EV is 25-50x, and you’re going to wait to time an entry that’s 20% more attractive?”https://twitter.com/twobitidiot/status/1108520333039058944
Twitter’s CEO Wants To ‘’Give Back’’ To The Crypto Ecosystem By Hiring Crypto Engineers
‘’Last week I was considering my hack week project, and asked @brockm: “what is the most impactful thing we could do for the bitcoin community?” His answer was simple: “pay people to make the broader crypto ecosystem better.” This resonated with me immediately, so we’re doing it.’’The Twitter CEO stated that the newly employed engineers will be reporting directly to him so this has the community baffled and in questions about who will the developers serve-the crypto community or Dorsey himself. For example, if the growing bitcoin development poses a threat to the Square-related developers will they still are left alone to do their work. Dorsey’s power shows how influent he is in the bitcoin development community so users are not particularly happy with this decision. On this issue, Dorsey stated:
‘’These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All resulting work will be open and free.’’The CEO of Twitter is one of the most important bitcoin advocates. Last year on the Consensus event he said that he wants Bitcoin to be adopted and hopes for the number one cryptocurrency to become the native currency of the internet. He also stated previously that he wants to be involved in any action that will lead crypto into the mainstream and that is one of the reasons he launched the Square Cash app. Last year revenues for Square show consistent growth. In the first half of 2018, the revenues reached $71 million while profits reached $0.6 million. In the second half, Bitcoin revenues increased to $95 million and profits increased up to $1.047 million. Dorsey has also invested personally in Bitcoin as well as in many BTC startups after he participated in Lightning Labs’ funding round which raised $2.5 million.
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