Have No Fear, Bitcoin Fans! Why BTC's Reign Is Here to Stay. – InvestorPlace

0

“This AI Panic Could Change Everything”
It’s an event that’s guaranteed to happen on August 23. One week before the panic begins, Eric Fry will be sharing his blueprint for turning this AI panic into 1,000% profit potential.
The king of crypto won't give up its crown easily
Advertisement
Source: Sittipong Phokawattana / Shutterstock.com
During H1 2023, holding Bitcoin (BTC-USD) yielded higher returns than investing in crypto hedge funds, as per 21e6 Capital.
While funds averaged a 15% return, bitcoin gained 83%, and directional strategies returned around 22%, surpassing market-neutral strategies’ 6.8% gain.
Crypto hedge funds faced challenges from FTX’s closure, banking issues, and regulatory uncertainty. In contrast, a straightforward buy-and-hold approach with Bitcoin outperformed these funds.
As 21e6 Capital noted, historically crypto hedge funds could surpass bitcoin’s performance, raising questions about their recent underperformance.
Curious about Bitcoin’s dominance? Since 2009, it’s emerged as the leading cryptocurrency with a $568.69 billion market cap and $25 billion daily trade volumes. Its significance lies in its consistent financial returns, and in understanding this new asset class. Let’s explore what fuels Bitcoin’s popularity.
Originating in 2008, Bitcoin’s history traces to Satoshi Nakamoto’s paper introducing a decentralized peer-to-peer transaction system. This innovation enabled financial exchanges without intermediaries, driving Bitcoin’s popularity and remarkable market cap growth.
Bitcoin’s journey from a modest valuation to over $424 billion showcases its significant growth. Amidst all-time highs and investor interest, its infrastructure evolved to fend off malicious threats, boosting its allure.
Notably, Bitcoin’s trading volume now exceeds $25 billion daily, more than twice that of Ethereum (ETH-USD).
Bitcoin, a blockchain-based cryptocurrency, offers swift, secure, and private online transactions with transparent rules, challenging traditional fiat currency controlled by central banks. Investing in Bitcoin is becoming simpler through reputable exchanges and wallets.
A valuable currency maintains stability over time, akin to commodities and precious metals used historically for reliable value.
Budding Bitcoin investors require a few essentials. To begin, on a KYC platform, establish a crypto exchange account, provide ID, and make payments. Having an external wallet is wise.
Payments can be made via bank, debit, or credit cards, P2P exchanges, or specialized ATMs. Similar to ancient societies shifting to minted currency from commodities, modern investors seek reliable stores of value.
While some argue that Bitcoin’s technology is outdated, it remains relevant. Critics cite high electricity usage due to Proof-of-Work. Its value stems from energy-intensive mining. Transaction speed and scalability are valid concerns. Innovations like sidechains, lightning networks, and rootstock aim to maintain Bitcoin’s dominance.
Given Bitcoin’s open-source nature, integrating altcoins is a possibility. Bitcoin’s large user base causes unique scalability challenges. The expanding community and service development drive Bitcoin’s innovation. These services provide features absent in Bitcoin. A holistic view of Bitcoin’s ecosystem, beyond its Blockchain, is necessary.
Amid global pandemics, the cryptocurrency market thrives. Bitcoin’s pioneering position has given it a growth edge.
Over 11 years, the Bitcoin community leveraged this advantage. While crypto prices rise, regulation will likely increase, mainstreaming cryptocurrencies. Bitcoin’s dominance is evident as a new decade begins, securing its long-term leadership.
On the date of publication, Chris MacDonald has a LONG position in ETH-USD. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.
Financial, Fintech

Article printed from InvestorPlace Media, https://investorplace.com/2023/08/have-no-fear-bitcoin-fans-why-btcs-reign-is-here-to-stay/.
©2023 InvestorPlace Media, LLC
Stocks to Sell
Market Analysis
Today's Market
Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes. Copyright © 2023 InvestorPlace Media, LLC. All rights reserved. 1125 N. Charles St, Baltimore, MD 21201.
Not Yet a Premium Subscriber?

Your Email

source

Leave a Reply

Your email address will not be published. Required fields are marked *