Reasons why bitcoin continues and will continue to be important despite the drop in its market price this last month.

By derwin25 | Worldinfo | 15 Oct 2019


 

Bitcoin undoubtedly remains one of the most important assets for the financial world. Despite its sharp price drop and not belonging to the traditional market, the main cryptocurrency remains an essential value in the modern economy. And these have where to confirm with many factors:

This important cryptocurrency has one of the safest networks. According to the Hash rate that measures the power of operations, these months bitcoin transactions are at their highest security points. The network doubled its power record and is currently at approximately 100 quintillion hashes per second.

On the other hand, bitcoin has already transferred more than USD 7 billion since it was created. On that total, a volume of USD 3.2 billion was handled last year. Therefore, operations with BTC are increasing. To get a sense of what the total figure means, historical bitcoin transactions equal the GDP of Japan and Germany added together.

Third, bitcoin mining continues to reach new profit records. The extraction of the main cryptocurrency was quoted at a total of USD 14,000 million, according to a report by Coin Metrics. Indicators indicate that by the beginning of 2020, miners will have rewards of USD 15,000 million, since most of this volume was obtained in the last 2 years.


As a final point, bitcoin has remained a massive asset in terms of its adoption compared to other goods in the world. The price of the main cryptocurrency is at its most critical moment of the year at around $ 8367.87. This being a support point that has remained above $ 8,000. However, Bitcoin has surpassed almost all value assets this year. Bitcoin beat oil, gold and stocks with a return on investment of 268% in the last 6 months.


 

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derwin25
derwin25

I like to look for new method of passive income.


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