• Fri. Jul 12th, 2024

Bitcoin Reigns Supreme after Remarkable Surge

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Oct 9, 2021

Despite the plethora of cryptocurrencies available these days, the only crypto that almost everybody knows about happens to be bitcoin, and there is a big reason for that. Unlike most cryptocurrencies out there, bitcoin has been there for a long while. As a matter of fact, it is the first-ever cryptocurrency in this landscape. Because of this, whenever crypto is mentioned in the mainstream, bitcoin is always discussed. Besides being the first-ever crypto, it also happens to be the most stable and profitable.

There have been loads and loads of other digital coins that came after bitcoin. However, none of these coins was able to come close to what bitcoin has offered so far. Sure, there is no denying the fact that there have been ups and downs in this cryptocurrency’s history. However, the fact of the matter is that bitcoin continues to be arguably the most stable form of crypto out there.

Once other forms of crypto started rolling up, bitcoin slowly started to lose its popularity. As a matter of fact, there was even a time when bitcoin did lose its popularity due to ripple, dogecoin, ethereum, and ripple taking center stage. However, they lost their spark after some time after which people went back to bitcoin. This further proves the fact that bitcoin is and always has been the choice of most people.

That being said, this crypto had a major setback during the early part of 2021. While there are plenty of reasons for that, one of the main issues was that other cryptocurrencies had massive price surges. Because of this, people started investing in them and did not pay bitcoin much attention. This eventually caused bitcoin’s prices to go down, resulting in poor profitability.

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Believe it or not, there have even been loads of cases where some people stopped trading bitcoin altogether and invested in other cryptocurrencies. Due to all of these happenings, a large number of experts in the crypto scene thought that bitcoin was finally about to lose its dominance. It looked like things were certainly heading this way, as ethereum and plenty of other cryptocurrencies were close to toppling bitcoin.

However, as time passed by, bitcoin recently experienced a massive surge in prices, which caused its profitability to skyrocket. A large number of people who had lost faith in bitcoin are slowly and gradually coming back. It would be fair to say that bitcoin has reigned supreme ever since it has existed and it seems like it would continue to do so. The recent surge in bitcoin prices further suggests that this cryptocurrency does not stay down for a long time and eventually regains its dominance.

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