The Bitcoin market needs more reasonable pricing models

Bitcoin market price

If the description above makes you think about the Bitcoin market, that’s okay. However, that was also how the stock market worked for the first nearly 400 years

Bitcoin market price

In 1602, the Dutch East India Company issued the first paper shares.

This medium of exchange allows shareholders to buy, sell and trade their shares conveniently with other shareholders and investors.

For hundreds of years later, early investors and traders did their best to predict price movements without any tools like MA, RSI etc. to price these securities.

Before, a stock priced at $ 100 was considered more expensive than a stock at $ 10, investors at that time were not too concerned with the number of shares outstanding, the underlying revenue or Business prospects of businesses.

Only a very small percentage of wallets have more than 1 Bitcoin

As shown in the table above, there are nearly 700,000 addresses with more than 1 BTC (currently about 1.68 million coins), accounting for more than 2% of the total number of addresses in existence.

However, no one stipulates that a person can only create 1 wallet address, at the same time, the numbers in the table will be easily misinterpreted if only at a glance. For that reason, we’ll have to dig deeper to get the realistic range.

How many bitcoins have been lost?

Yes – we should not ignore this aspect. If an investor places 1 BTC in his wallet and loses his password in an incident, of course, we cannot count towards the above criteria. In a previous Coin68 article, we mentioned that around 4 million BTC have been lost forever, i.e. 23% of all Bitcoin has been mined as of now.

How can Bitcoin be more widely used?

It is not easy to make any new technology an essential part of life. At the age of 11, Blockchain technology with the most prominent representative is that Bitcoin still has a lot of big problems to solve before it becomes a “must have” asset for ordinary users.

When can Bitcoin go back to 20K?

Bitcoin has touched $ 20,000 in the past. However, at the present time, it is difficult for this coin to return to the above milestone with 3 barriers still too large ahead.

For many years ago, there was too much opinion that institutional investors would quickly jump into the cryptocurrency sector. Features like decentralization or security are Bitcoin’s strengths and have always been a viable investment tool for many traders. However, institutional investors are still somewhat hesitant, even though there are many products designed to target this audience like Bitcoin futures or other types of crypto derivatives. Bakkt does not appear to have enough weight to entice huge cash flow from these organizations. So where is the reason?

What is behind the prosperity of Bitcoin?

Bitcoin’s price fell after reaching an all-time high of $ 20,000 in December 2017. People who invested in Bitcoin since its early years became millionaires and billionaires quickly. Many of them have claimed to be professional Bitcoin traders and investors. Even so, the majority still do not have the basic understanding of this coin.

On August 15, 2010, in an incident called “value spill incident”, an unidentified hacker attacked Bitcoin’s blockchain, generating 184,467,440,737.09551616 BTC! This took place in block 74638.

As of now, there are 2912 cryptocurrencies on the market. Interestingly, though, 439 of these come from Bitcoin through direct or indirect forks.

Secure your Bitcoin wallet as soon as possible

Since the past two years, digital fraud and cyber attacks have consistently exceeded alarming levels. According to the Verizon Data Breach Investigation Report 2017, 81% of breaches related to a network attack or theft impair the first password.

Therefore, the network data security service in general and the cryptocurrency security in general are being upgraded and improved more strictly than ever. Previously, any lowercase character could be set as a password. But nowadays, most websites require a password for an account to have a combination of uppercase letters (A, B ..), lowercase characters (a, b ..), numbers (1,2 .. ) and special characters (!, @, ..). This has actually helped to significantly reduce network attacks.

Leave a Reply

Your email address will not be published. Required fields are marked *