Bitcoin and its sustained growth

in Project HOPE3 months ago (edited)

I will start this article as the following sentence, "Dreaming doesn't cost anything, but investing is a risk", this idea came to my mind while I was reading a publication of a recognized author of the cryptographic world, who stated in his manuscript that Bitcoin (BTC) are living a second golden age, his focus was on the sustained growth that BTC has experienced during 2020.


Fig. 2 Since its genesis, Bitcoin has always lived through a golden period of sustained growth. Image of public domain, Author: Mohamed, 2020

In particular, I think that since its genesis and since the first exchanges there in April 2010, until now Bitcoin has always lived a golden period of sustained growth over time, this can be contrasted if we analyze that after reaching parity with the U.S. dollar, the movements of the BTC have always been upward, with some natural corrections or falls as occurs in financial markets.

Since my incursion in the blockchain in 2018, and thanks to the interaction benefits that this platform has given me, I have witnessed at first hand the totally upward growth of Bitcoin, by overcoming the correction of around 3,000 dollars, and then climb and even 12,000 dollars in mid-2019, and from the early months of 2020 start its best sustained growth to exceed 28,000 dollars.

Therefore, in my way of analyzing the historical behavior of Bitcoin, I have no doubt, it has always experienced constant golden periods, and the reflection of some ephemeral downward behavior has not been of great significance, elements that, for any investor is a guarantee of investing to accumulate capital. Now, going back to the initial phrase "Dreaming doesn't cost anything, but investing is a risk", it's worth asking, does this upward behavior only happen at Bitcoin?.

To answer this question, it is necessary to analyze the unfavorable behavior of second (top 10) and third hierarchy crypto-currencies (digital currencies with lower market capitalization than those located in the top 10), perhaps the exception to the rule is Ethereum (ETH), but from my point of view, investing in these crypto-currencies is extremely complicated, and I say this from my own experience, since I have been making some purchases and over time I see how the market collapses again and again in an apparent infinite decline.


Fig. 3 Digital currencies with lower market capitalization are constantly declining in price. Image of public domain, Author: Designwebjae, 2017

The unstoppable march of the Bitcoin, in some way encourage us to continue dreaming and patiently wait, that the rest of the cryptomonies may experience a near price increase, because otherwise we will have to be very cautious when investing, I expect your comments and appreciation in this regard.


BIBLIOGRAPHICAL REFERENCES CONSULTED:


[1] Pastor J. Bitcoin se dispara: llega a superar los 28.000 dólares y la industria habla de valores locos para 2021. Xataka. 2020. Article: Online access

[2] Athey S., Parashkevov I., Sarukkai V., and Xia J. Bitcoin Pricing, Adoption, and Usage: Theory and Evidence. 2016. Article: Online access


OBSERVATION


The cover image was designed by the author:@lupafilotaxia, incorporating the background BestGraphics, 2017


Original manuscript, uploaded from the Project HOPE community website


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Hello @lupafilotaxia, without a doubt every time I sit down to look at the market I think about the probability that the digital currencies where many of us move (Hive/steem) make that leap that allows us to acquire a better and more comfortable economic condition.
Now, to what extent will the bitcoin? rise and to what extent will it drag the lower value coins into it. Only time will prove us right. Great contribution greetings

Greetings Professor @madridbg

Correct time will reflect the market behavior, the truth is that, the current movements are not favorable, because while the BTC is constantly growing, there will be no possibility for the rest of the cryptosystems to recover, it is necessary for the BTC to establish a range for a couple of months, to give a chance to the rest of the cryptosystems. Thank you for leaving your comment.

Very good information that you share with us @lupafilotaxia, I on the other hand thought that if the bitcoin goes up it will drag the rest of the coins below it when it is expected to stabilize horizontally. Thank you for the caveat

Friend @madridbg, it doesn't happen that way, mainly because, people who have cryptomonies, start selling them to be able to buy BTC, and this generates a constant sales pressure, which makes the prices of these cryptomonies fall. Now, after BTC makes some important correction, or enters accumulation ranges, these same people who sold their cryptomonies to buy BTC, before a bear market occurs, start selling their BTC to invest in lower value cryptomonies, and this cycle repeats itself over and over again. The point is, while the BTC is constantly growing it is difficult not to generate selling pressure on the rest of the cryptosystems.

by overcoming the correction of around 3,000 dollars, and then climb and even 12,000 dollars in mid-2019, and from the early months of 2020 start its best sustained growth to exceed 28,000 dollars.

Whenever i think about this, i am feeling very disappointed because i was not accumulated bitcoin when it was 3000 dollars. Well, I have hope from other coins except XRP. let's see. thanks for the great content.

Greetings @luckyali

Don't worry, the market will always have cycles of good times to go up and take profits, look at the beginning of the year, in my case I was buying BTCs, but on impulse I sold them, then I started using them in trading, but I didn't keep those BTCs, and now I realize it was a mistake, but good are market situations, that if we don't know how to interpret them in time, things like this happen to us. Best regards, thanks for reading.

It is a golden process that BTC is undergoing, a behavior model that perhaps other digital currencies can follow at a given time.

Greetings @lupafilotaxia and thanks for sharing

Greetings dear friend @carlos84, this is how it is since its origin the BTC has experienced a financial revolution and golden age, let's hope that this soon can be extended to the rest of the cryptomontages. Thank you for reading.

Hi @lupafilotaxia

Certainly:

"The unstoppable march of Bitcoin"
In 2020, exceeded 290% increase, due to a series of factors that had a favourable impact on it.

One of the main ones that has catapulted this crypto is the recent launch by Paypal of the service of buying, selling and payment of cryptomoney in the month of October 2020.
Today, according to www.dinero.com wel Bitcoint has reached a new all-time high of US$ 30,824.
I will particularly be following developments in this area.
Best regards.

Hello @janettyanez, certainly since Paypal adopted, the use of BTC as a way to use their services of buying, selling, has seen a sustained growth, which also comes with institutional support. Thank you for visiting the blog, we keep reading.

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