Perhaps this is telling of the real threat to Bitcoin. Maybe it is time to stop considering the government as the real enemy. It appears that blockchain itself may be the biggest hurdle to Bitcoin being the global currency precisely because this technology allows anyone with the technical know-how to create new digital coins that could eventually challenge Bitcoin.
Why People Invest in Altcoins
Although Bitcoin still holds a commanding share of the total cryptocurrency market, it’s clear that more and more people are getting interested in altcoins. Of course, many of these cryptocurrency projects prove to have immense potential in terms of disrupting their respective industries. But in terms of making huge returns, altcoins may be the better option than Bitcoin.
Since Bitcoin already costs thousands of dollars, many investors look into altcoins in an attempt to find the next big thing. Many coins out there are priced at less than $100, yet people believe that they should be worth a lot more. For these coins, there is always the potential of making huge returns when you get the timing right. This is precisely why many investors have started using cryptocurrency trading robot such as Bitcoin Code to automate the trading process and never miss out on buying or selling opportunities.
Is There Still a Reason to Hold onto Bitcoin?
Many investors believe that it is only a matter of time before Bitcoin loses its place as the biggest cryptocurrency in terms of total market cap. It’s worth noting, however, that it still has the 1st movers advantage. Bitcoin has been around for a long time, and it is this longevity that makes people trust the coin more than other digital assets. It is also supported by merchants and exchanges, more so than other cryptocurrencies. If Bitcoin remains the most liquid out of the bunch, expect it to remain relevant for years to come.
Various cryptocurrency projects have caught the attention of investors, but they still need time to prove their worth. There is also the fact that the government has regulated ICO’s, prompting many investors to stay on the safe side and invest their money in Bitcoin which has stood the test of time.
Ultimately, it all boils down to investing in the digital assets you think will have a bright future. It seems that there is a coin for everything, but you should research as much as you can to learn how viable their use cases are.