With 2017 taking off with a bang, cryptocurrency has been recognised as potentially, the best investment of your life. Getting closer to 2018 however, it has been recognised as one of the most unstable markets in the world.
That is because cryptocurrency went from constantly increasing its value in the market where many were able to generate profits, to all of its coins drop in the lowest value seen in years. Two such coins, also recognised as the two biggest coins, Bitcoin and Ethereum, reached a low that left all investors thinking it would not be able to rise again. While this makes the most sense for the future of these coins, cryptocurrency and its algorithms never made any sense, to begin with. This has left many to believe that the unstable market will recover once again and when it does, allow for profits re far bigger than ever before.
Ups and Downs are part of the trade and are, normal?
It’s safe to say that in 2018, Bitcoin on the map as an asset class of its own. As a digital currency, many have questioned how a currency in the digital space can be without any value. Bitcoin, in fact, has a transferable value. It is an exchangeable currency for currencies all around the world and can even be used to pay for certain services and to buy selected products. It is a quick, safe and untraceable transactional method that in some cases, might even save you money when it comes to tax.
Enter the Blockchain
To reap the most benefits from cryptocurrency, there is an underlying technology referred to as Blockchain. This is a space that is crucial for optimal trade with crypto. Blockchain allows for data to be shared in a unique way. It allows a transaction to occur from person to person without having to rely on a bank to support a transfer. This reduces the risk of having data stolen. These transactions are immutable, which means it cannot be changed unless the network agrees with it.
Although there are a lot of ruffled feathers and beliefs regarding the current and future state of Bitcoin, the blockchain is a platform for people all around the world that revolutionizes technology and the ability to perform transactions more safely and quickly. It is a far more reliable source and is one that is being considered as a new system in banks globally.
Although there will always be positives and negatives in the cryptocurrency space, there is a lot of potential for profits and growth when done right. There are various factors that influence the market and the current state of crypto due to investors retracted from buying crypto. Once the market picks up, cryptocurrency’s value and ever-growing opportunity once again, will too.