Bitcoin and its sustained growth

in Project HOPE9 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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Hi teacher: I am optimistic and I think a rise is coming important to most altcoins, and hopefully hive and steem are part of it.

Greetings friend @reinaldoverdu, first of all thanks for reading and leaving your comment, hopefully a rise will occur for the rest of the crypt coins, an element that I think will strengthen the whole crypto graphic ecosystem. Best regards.

Hello @lupafilotaxia
It is an important point to point out what you share here in your post.
Actually, if we look at the BTC movement since its beginnings, its price has been rising, with important corrections, which, as you say, is normal in the financial world.
However, the altcoin this year has not been very positively affected by the increase in the price of the BTC.
But history speaks for itself, and with the previous corrections of BTC, many altcoins have marked their maximum prices, ripple, steem, SBD, TROn, LTC, are clear examples of this. That in January 2018, after starting the BTC correction, they marked very good prices.
Let's wait and see what happens.

Greetings dear friend @josevas217

I was not in the previous maximum prices of 2018, I entered the platform in March of that year, certainly a similar behavior is expected, the point that motivated me to write about the atypical behavior that has precisely experienced the cryptomomedas of less hierarchy, is because, since then they are marked a frank decline, and in this period many projects have disappeared precisely because they are not at all attractive to make significant investments. Thank you for leaving your important and valid point of view.

No friend, neither did I run with the luck of being at that time, between the end of January 2018, that great moment of prices had already concluded.
Let's hope we can soon enjoy something similar

I hope that this is the case, to be able to observe a favorable behavior in the rest of the cryptomonas, fundamentally STEEM and HIVE.

Hi @lupafilotaxia
If this news of the golden behavior of the BTC is encouraging, however it is worth asking how long this behavior will be, I also agree with you regarding the behavior of the other crypto, I consider that the btc will always be the rule of measurement for the others.

@tipu curate 3

Thank you for your support.

Greetings @lanzjoseg

Also, I have asked myself the same question: How long will this constantly rising behavior last in the BTC, and there precisely is the call to be skillful and extremely cautious, because normally, for the health of the market, the BTC must make a correction to balance its movements in the search for financial oxygen. Thank you for leaving your accurate point of view.

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. As expressed by @josevas217 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.

Hi @lupafilotaxia
what happens is that bitcoin is the king of the cryptocurrency, many billionaires have invested large amounts and have that money standing there. By not selling, they only make the price rise and rise, with those of more altcoin, there is no constant buying and selling, but like you, I hope that the other currencies also rise, such as the one on this platform

Greetings @ramsesuchiha

Right, that is the scenario; there is a lot of sales pressure on the rest of the crypt-currencies, a reality that makes it difficult to attract investors, and on the other hand, in addition to the large investments that many millionaires have made, BTC has practically become institutionalized, an element that gives more credibility to the market.

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.

Greetings friend @lupafilotaxia, interesting topic that you have touched here, except for some corrections, the price of the BTC has always been increasing, perhaps that will give confidence to its investors, and paradoxically other cryptos have not experienced this growth, perhaps all the attention is taken by the BTC, but hopefully in the not too distant future this growth will be replicated in the other currencies, while we must be cautious in this market.

Greetings friend @emiliomoron.

Thank you for reading, from my side I hope that future is not so far away, and we can see that this impulse of the BTC ends by as you say, replicating itself in the rest of the currencies, and certainly we must be cautious when making the decision to invest.

"Dreaming doesn't cost anything, but investing is a risk", it's worth asking, does this upward behavior only happen at Bitcoin?.

i actually agree to the quote, there are lot of risk involve in investing, will you be able to bear them. the upward behaviour isnt on btc alone, people might think it is only on btc because of the huge growth in the price. but there are some alt who did double along the way also

Greetings @valchiz

In fact, throughout the year some crypts rose exponentially, attracted investors, then collapsed mostly, and others managed to recover, perhaps the cycles have been generally somewhat weak, an element that most of the crypts have weakened in the markets and at the same time position themselves in time. Thank you for reading.

I'm getting pretty excited about the power of Bitcoin.

Greetings @wiseagent

With what we have been able to observe these last two years, the BTC from my perspective, has been definitively consolidated. I intuit that in the following comes great openness and acceptance of the BTC at the level of states and institutions, an element that will give it greater muscle and value. Thank you for reading and leaving your comment.

BTC has had a constant growth over time since its departure, now the problem is not in the sustained growth but in the bubbles that have been created as in 2017 when prices were inflated for some whales to fill their pockets, the current price of BTC is inflated, so we will wait for the correction and see if this rise is another bubble.

Greetings @trabajosdelsiglo

You are right, and indeed the main fear is precisely that bubble that has been generated, an atypical element in traditional markets, people particularly investors, risk not assuming this reality, which can cause large losses. Thank you for reading, Happy New Year, blessings to you and yours.

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.