Yes, Bitcoin price has lost almost 70% of its all-time highs. But the technology itself continues to develop, becoming stronger than ever! Here are 4 main aspects which help Bitcoin to remain a wise way to invest (despite of any corrections).
1⃣Transactions fees have dropped to their lowest levels in seven years
Not since 2011 was it was so cheap to use Bitcoin, and it promises to become even cheaper in the future. Increasing expansion of the Lightning Network is expected to push fees below 1 satoshi per byte, so long-term transaction would cost nearly negligible amount.
2⃣Bitcoin’s hashrate climbed to its largest in history in May
Data from Blockchain republished on Twitter by trader and commentator CryptoYoda impressed users with theories including miners mining at a smaller profit in order to generate long-term holdings.
This year witnessed mass uptake of Segregated Witness (‘SegWit’) technology, which for Bitcoin users also means lower fees and faster confirmation times. SegWit transactions now make up a greater proportion of the total sent each week than ever before – almost 40%.
4⃣Worldwide bank system lacks trust
Italy and the Eurozone under political pressure and Australia and New Zealand lenders both suffering mass technical outages which cut customers off from their funds. By comparison, the Bitcoin network has experienced 99.9923% uptime since it was launched in 2009. Decentralized cryptocurrency becomes more and more attractive for investors, and that means, that Bitcoin market cap is destined to grow!
The crypto world is a blossoming to be a real game-changer that could change the way we do things. As we speak, applications are being developed to disrupt the current status quo, for the better. Imagine having transparent access to government or organizational activity at your fingertips, or allowing part of your computing power to be shared in the advancement of key scientific and medical projects. A decentralized system allows the masses to leverage each other’s resources and qualities to uplift the community. It is a force of good. Additionally, you can also get very rich investing in the ecosystem too. So what are you waiting for? If you think that it may be too late to invest, have a read here: Is it Too Late to Buy Bitcoin and Is It too Late to Invest in Cryptocurrency?