Bitcoins price has been had some wild swings so far this year. I mean just look at this chart...
The screenshot above was taken from CoinGecko.com
This is a 180 day picture of bitcoin. From the low $20,000 which was 2017 price rally all the way up to nearly $60,000 for the current day. We can see from March to today we have had a total of 3 sell off points with recoveries right back up to our $55,000 - $60,000 price range. This shows us a new steady input which normally leads to a rally at some point.
Right now I believe we are in the early days of the start of an alt coin season. We have see one of the biggest rallies of all time with Ethereum but this has also trickled down into other projects as well. Take Hive for example. Once $0.14 - $0.20 in March is now $0.50 - $0.60 today a 3x increase in just 3 months time. Same goes for LEO what was once a very low priced token often beats Hives price and continues to build advancement in DeFi and (I hope many more projects soon)
So why would we see a major upswing some time soon?
I believe that Bitcoin is the foundation. It's the ground floor of what many companies will use to get into cryptocurrency. It is nearly all mined and provides a stable low inflation ground to stake and bring value into the cryptocurrency field without risk of a 1,000% dump since it's market cap has grown in size.
This is the perfect entry point and the point of which massive funds will be transferred back and forth securely. it's the most battle tested and stable blockchain of them all and with the mining power behind it nearly impossible to 51% attack unlike other cryptos which are actually at very great risk of this.
Think of Bitcoin/Crypto in comparison to how the internet came about or even computers for that matter. Every program on your computer still uses the command line on the back end. You know that black screen with a command prompt. It's the guts of what makes your system work. You could compare this to Bitcoin being the guts of cryptocurrency. The rock in the vast crazy world of decentralized cryptocurrency. It's the entry point and safe haven for many.
Posted Using LeoFinance Beta