Bitcoin makes comeback and that permanently silence haters and people who doubted in Blockchain technology. Bitcoin continues dominance after hitting ATM in December 2020 and now it already crossed $30k. Bitcoin market cap continue to create new record, as it recently crosses $500 billion marked. Following that Bitcoin become biggest financial service of the world after beating Visa, JPMorgan Chase, mastercard, paypal and bank of America.
However, there are few facts that could not stopping Bitcoin going on the moon, but user still remember the 2018 crash. now along with Bitcoin going up, there is another that asked by most people i.e. Will Bitcoin Crash again or not?
Answering the question, we honestly made prediction in the beginning of 2020, that Bitcoin will cross $30k USD and then it will follow neutral trend. so, following that question another crash obviously coming but this time there will not be big dropped like previous one. as united states of America expected to bringing new law on bitcoin and other crypto transaction, as we know recently US located companies JP Morgan, Grayscale and Square buying more bitcoin as investment.
However, USA based Ripple company who separated from XRP stuck in lawsuit because its relation with XRP. As XRP already losses investor and people started cashing out their investment, so price of XRP continues to drop. as excluding XRP other top crypto Litecoin, Ethereum, Polkadot and Bitcoin cash also surging in price and market cap.
2020 is the year of decentralized Finance and Ethereum Blockchain, as thousand of defi project are launched and most of them build on Ethereum Blockchain. however, DeFi adds billion worth volume in different project, as it was started with compound, Chainlink, Synthetix and then it was end up with Uniswap, 1inch and another token. as in this year Bitcoin able to hold more than 50% dominance in the market, as most of platform still giving priority of Buy Bitcoin first. So, Bitcoin in the blockchain market will not be replace for 1st position.
BTC dominance crosses 70% and now old project also picking momentum as always, as there is some relation between Bitcoin and old project, as old project means the blockchain projects that launched before 2018 year. so, even in bullish market, some defi project struggling to have positive percentage as per the coinmarketcap report. so, we could say Bitcoin age, decentralization, security, technology is still benefitting. So, most of new investor are still choosing Bitcoin as safest and trusted coin to be invested over other altcoins.
Investor now suddenly started believing in Bitcoin and started investing without fear, as security and privacy in recent year magnificently improved. as there are few reports of bitcoin getting hacked or other altcoin gets hacked when we compare with 2018 year. top finance-based companies started providing Bitcoin as payment method on their platform that include Paypal and other e-commerce platform. even Amazon, google, Samsung, Microsoft planning to launch their own blockchain platform in future, as Facebook’s Libra going to make debut in 2021.
However, whenever there is entry of new tech giant or other companies into blockchain create huge bubble in Bitcoin prices. as recently Elon musk who is CEO and founder of Tesla company who likely become richest person in the world supporting blockchain project. as, top analyst also rated Bitcoin over Gold, Silver and Diamond, as crypto may not match stock market cap volume but it can give more returns on investment.
However, scam continue to happening in Bitcoin because of its private network, so stay way from offers from unknown users. as try to understand technology first and then choose trusted platform for trading that include Binance, Coinbase, Kraken and for Defi use Uniswap.