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Author Topic: Bitcoin blockchain Or Bitcoin price, which makes it the top cryptocurrency?  (Read 818 times)

kamal420

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There is something I'm thinking though I don't know if it's right or wrong, that Bitcoin is the prime currency here, not necessarily because of its price but because of its blockchain project and being the first in the system so I'm thinking even if other cryptocurrencies price ever get higher than Bitcoin, will Bitcoin still be seen as the prime cryptocurrency? Or is the whole thing around the Bitcoin centered around its current price in the market?

bdsharminsoltana

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If you're asking why bitcoin is placed as the top currency, the reasons are pretty obvious: it's because it is the first cryptocurrency ever traded with real money and its price on the market. Most cryptotraders are banking on bitcoin due to these reasons, with (sadly) its technological implications and flexibility trailing behind the price. You can also factor in the amount of money invested in infrastructures surrounding bitcoin, mainly the mining scene. Due to this, people who are knee-deep on their involvement wouldn't want to get their leverage and advantage on investments be turned to nothing. I'm sure there are a lot more reasons why people choose bitcoin over any other cryptocurrency, but these, I think, are the most probable reasons why they stick with it through the highs and the lows.
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yousufatik

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The price is not a single element to determine the prime status of it. Bitcoin definitely gained momentum due to its first mover advantage of it. However, it's the utility value that makes it the prime currency. There are the people who are using it as a payment system and any other coin having high price might dominate the crypto market but it won't be a prime cryptocurrency unless there are factors like userbase and utility value to support the market cap.
                
                
                
                
                 
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Dprincebh

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Bitcoin has been the top currency, firstly because it is the first to be ever launched, secondly first to be ever traded, thirdly, first to be ever be receive as a mean of payment
        
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Azir

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Very simple ! It is the first cryptocurrency , It's represents all coin , when people call the name '' cryptocurrency '' . Bitcoin is the most name be called


rituvohra01

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Bitcoin is the creator of the crypto world when we talk about the blockchain technology, the first name came in mind , that is Bitcoin.

josephabad23

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There is something I'm thinking though I don't know if it's right or wrong, that Bitcoin is the prime currency here, not necessarily because of its price but because of its blockchain project and being the first in the system so I'm thinking even if other cryptocurrencies price ever get higher than Bitcoin, will Bitcoin still be seen as the prime cryptocurrency? Or is the whole thing around the Bitcoin centered around its current price in the market?
This is hard to predict but based on my analysis, there are too many altcoins out there outperformed bitcoin in terms of technology. And I think it depends on the community who they will adopt.

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Pelanavreo

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Bitcoin has many communities, from investors and miners who want Bitcoin. The price is high because of the small amount of supply and the first blockchain technology in the world.

Midz

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Bitcoin has many communities, from investors and miners who want Bitcoin. The price is high because of the small amount of supply and the first blockchain technology in the world.

But for now it's a decline for bitcoin since it's a bad issue about crypto. And it's not just bitcoin that has been hit but all coins


Grypsy

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I think that because many whale started to hold it at the time Bitcoin was started to trade with fiat currency, so it also helped Bitcoin has the biggest volume on the market
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Barb

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I think that because many whale started to hold it at the time Bitcoin was started to trade with fiat currency, so it also helped Bitcoin has the biggest volume on the market
Good point, and because Bitcoin has a limited supply so it’s cause this coin become more and more popularity, some people even compare Bitcoin with gold too

AdamLu

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I think that because many whale started to hold it at the time Bitcoin was started to trade with fiat currency, so it also helped Bitcoin has the biggest volume on the market
Good point, and because Bitcoin has a limited supply so it’s cause this coin become more and more popularity, some people even compare Bitcoin with gold too
Yes, the less the supply of Bitcoin, the higher the price it will be, especially we will a halving next year where it reduces the amount of Bitcoin reward on each block mined, so Bitcoin price in next year could increase more

NguyenTuan

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I think that because many whale started to hold it at the time Bitcoin was started to trade with fiat currency, so it also helped Bitcoin has the biggest volume on the market
Good point, and because Bitcoin has a limited supply so it’s cause this coin become more and more popularity, some people even compare Bitcoin with gold too
Yes, the less the supply of Bitcoin, the higher the price it will be, especially we will a halving next year where it reduces the amount of Bitcoin reward on each block mined, so Bitcoin price in next year could increase more
Agreed with your thought but I think before we come to this up in the price, there will be another massive dump so that whale and shark can accumulate more Bitcoin for their own

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Barb

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Agreed with your thought but I think before we come to this up in the price, there will be another massive dump so that whale and shark can accumulate more Bitcoin for their own
If what you’re saying become true then the market and Bitcoin will see another deep bottom soon, but I’m also afraid that if the bottom is too dip, then the market will take longer time to recover

 

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