It was only yesterday that we reported about sudden changes in the way Bitcoin worked but as you can see there can never be anything which one can be sure of. And so are cryptocurrencies’ latest ‘bull run’ that has brought some relief to investors of Bitcoin!
Of course, stabilize is the correct word here because right from October of 2018, with unstable market around, Bitcoin still maintained its status quo. Difficult to believe but that is how Bitcoin works. And when you look at the picture, you understand that Bitcoin has been trading some where around $6,400. This is certainly a positive sign for investors say some experts.
On the other hand, Ethereum as well as Litecoin move around $211 and $51 respectively. Agreed that there was indeed one point of time when Bitcoin touched its all-time low however, that was way back in the month of June. And as per reports, Bitcoin in June was around $5,900 which turns out to be a few hundred less than the current status.
Binance CEO’s Views
Changpeng Zhao, CEO of Binance has even reported to have said that there is going to be ‘bull run’ of cryptocurrencies and it shall not take a lot of time as well. Binance, is one of the top Cryptocurrency exchanges across the globe and if something to this extent comes from the CEO of it then there are a lot of chances that Bitcoin along with other cryptocurrencies shall see their rise again!
Bitcoins and Blockchain had been made to change the way decentralization worked; it did make quite a stir among people about the way it worked and so it was time that it caught the attention of people (the way it did by having numerous investors from various sectors of the world).
Things, however, did not work as per the plan as some Governments did not completely take cryptocurrencies on their anvil.
Predictions or Reality
As moments pass, it becomes all the more difficult to take a final decision as to what would be right and what is not supposed to be correct. To clear this air of confusion, Llew Claasen, Executive Director of Bitcoin Foundation has been reported saying that Bitcoin shall hit $40,000! Now this is not a small sum?! Adding to this statement, Claasen said that it shall be by the end of this year that Bitcoins hit this mark.
When asked about other cryptocurrencies, Claasen’s only answer was: (that) about 90% of cryptocurrencies might fail. Reasons for this failure could be lack of risk-taking ability, most managements of Cryptocurrency projects may not have.
At the moment with 5 known scams of Cryptocurrency, the list is going to be an endless one. Situations are indeed volatile, major reasons being: it is tough to predict future of a Cryptocurrency for a limited period of time. Hence, this leads to varied statements about pros and cons of investment in a certain department.
Bitcoin on the other hand seems to be a store of a kind for value; it is also being regarded as an asset or an aspect most shall bank on.
Readers, stay tuned for more updates on Bitcoins and cryptocurrencies future right here.