Ever since the creation of Bitcoin in 2009, it has become one of the most popular cryptocurrencies all over the world. The reason behind the success of Bitcoin can be owed to its decentralization and it’s speedy transaction without any transaction fees. But it’s now 2019 and you can find a lot of Cryptocurrencies in the market, which are trying their best to dethrone Bitcoin from the first place. The prominent ones are Ethereum, Ripple, litecoin etc. The value of Bitcoin has been a roller coaster ride in the past few years, it reached the highest value of 20000$in 2017 and in the recent months, it has fallen below 8000$, which is pretty bad for investors.
One of the most amazing thing about cryptocurrencies or Bitcoin in general is their decentralization, meaning one agency doesn’t hold absolute control. But bitcoin price prediction 2025 was not made keeping in mind, the everyday uses or transactions, alt coins such as Ethereum or Ripple (xrp) very made keeping in mind their practical orientation. Another flaw in Bitcoin is its high electricity consumption, which is comparable to a small country like Ireland.
Since the launch of Bitcoin in 2009, many Cryptocurrencies have been launched, but none of them were able to enjoy the success enjoyed by Bitcoin. There are a lot of factors which helps Bitcoin to gain dominance over other alt coins such as
- Stability – Even with the various fluctuations of the market, Bitcoin still offers highest stability in comparison with other Cryptocurrencies.
- Liquidity – Cryptocurrencies won’t be of much use if you can’t liquefy them in times of need, and Bitcoin has a high liquidity.
- Decentralization – The whole concept of cryptocurrencies revolve around Blockchain, which is in common words a decentralized control. You may feel other alt coins also offer this, I won’t deny that but Bitcoin still continues to be the single cryptocurrency with high decentralization.
- Acceptability – If you can’t use your cryptocurrencies at other merchant stores, then I am pretty sure you won’t feel good. Bitcoin is the most widely accepted Cryptocurrency with big retailers such as Microsoft, Expedia, Paypal accepting it as a method of payment.
Though Bitcoin has its flaws, as well as presence of new competitors in the market, and increasing government regulations, but it will still continue to be the king of cryptocurrencies in 2020.