Is Bitcoin Getting Better with Time or Risky?

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( — December 6, 2021) —

As the cryptocurrency industry continues growing larger, the entire crypto-verse has its eyes set upon Bitcoin (BTC). Although there are several cryptocurrencies that are full of potential and are promising, yet Bitcoin is the eye candy of most investors. This is the reason why when Bitcoin started gaining in on its price and valuation starting December 2020, it was overwhelmed with a tremendous amount of traffic. Whether it be transactions, trading volume, adoption rate, or any other aspect, Bitcoin was facing all of it.

Surprisingly, as the price of Bitcoin continued rising, so did the user base and volumes on the digital asset. This trend continued taking place and the Bitcoin blockchain continued feeling the pressure. The blockchain for Bitcoin was constantly getting hit hard by the pressure exerted by the investors. As a result of the pressure, the transaction fees for Bitcoin continued growing higher and higher. Despite the Bitcoin price prediction being in the positive and upside trend, it was not going to be good for investors.

FACT 01:

Due to high fees, transaction lags, delays, and interruptions, Bitcoin was getting penalized heavily, as investors were leaving the platform. This is when the Bitcoin blockchain was provided with a solution in the form of Lightning Network. The Lightning Network was integrated into the Bitcoin blockchain making it highly feasible for the users. With the help of its integration, Bitcoin was able to withstand and address all the issues, and concerns that were being faced by the network.

With this, Bitcoin has proved why it has always remained on top of the entire cryptocurrency industry. Even now, Bitcoin ranks as the top cryptocurrency with the highest value of $57,239.71. However, Bitcoin has seen better days as its price had hit an all-time high of $69.5k per BTC in the middle of November. At present, the cryptocurrency guide for Bitcoin shows that it is going to experience a high trend in the upcoming days. As of now, many investors have moved to other networks and cryptocurrencies because they have lost hope in Bitcoin.

FACT 02:

The major reason why such investors moved to other cryptocurrencies was because of the high transaction fees they incurred on the Bitcoin blockchain. However, there are several developments that are underway, and once launched, they will be helping the blockchain network tremendously. At present, there are several developers that are working to bring Bitcoin towards the decentralized finance (DeFi) sector.

As of now, Bitcoin is not on the DeFi network, which the majority of the cryptocurrencies are on. This is one of the major drawbacks that Bitcoin is currently faced with. However, once the developers figure out the way of launching Bitcoin through the decentralized finance network, it will be a game-changer for the sector. This is going to be a huge victory for Bitcoin over the rest of the cryptocurrencies. The digital asset currently has almost 45% dominance over the cryptocurrency sector with a market valuation that is over $1.1 trillion.

FACT 03:

Since the beginning of 2021, mainstream investors and corporations have been making heavy investments in Bitcoin. From time to time, many analysts and Bitcoin opposers have claimed that Bitcoin will lose its market value in the upcoming years. However, Bitcoin has proven them all wrong and despite being pronounced as a dead currency over 400 times, it has continued shocking the entire world. Major corporations such as MicroStrategy, JPMorgan, Morgan Stanley, and many more continue making investments in Bitcoin.

The growing interest of mainstream investors in Bitcoin is a constant reminder to the entire cryptocurrency sector that Bitcoin is not going anywhere. It is Bitcoin that started it all and it is Bitcoin that will carry the entire crypto-sector, and continue leading it. Even major on-chain data analyzing firms support the bullish trend for Bitcoin and support its potential in the upcoming months. According to firms such as TradingView and CoinMarketCap, Bitcoin is going to hit an all-time high in the upcoming months.