Bitcoin’s mesmerizing fall in price over the last 12 months has left investors and regulars wondering what’s going on.
Many are also asking the more fundamental question of “What is Bitcoin?”
In fact, that question was the most trending one on Google in both the US and UK this year.
Having surged to astronomical heights towards the end of 2017 before falling nearly 80 percent just a year later, Bitcoin has slowly but surely gained mainstream recognition and widespread adoption.
However, making sense of the digital currency and understanding why it’s susceptible to extreme changes in price is something that the general public has been actively seekin out in 2018.
Not to mention, the jargon attached to Bitcoin is confusing enough to make even an expert need to do a bit of research from time to time.
With the fall in Bitcoin’s price, one would think that interest in Bitcoin would decrease alongside the price.
However, we see that this is not the case. Although Bitcoin’s value has decreased over the last year, public interest has only gone up. Not to mention, Bitcoin is the only cryptocurrency on the market being researched at high levels, meaning Bitcoin is the only cryptocurrency today that people actually care about.
All of the altcoins that sprung up towards the end of 2017 and beginning of 2018 have either dwindled away or lost notoriety.
Only time will tell. Here at Coin Cloud, we see an increase in usage every day despite the price of Bitcoin. Large financial institutions are still figuring out how they can best utilize the cryptocurrency in their own spaces. Developments pertaining to Bitcoin’s underlying technology, blockchain, haven’t slowed down a bit either.
With that said, we feel comfortable saying that Bitcoin will continue to mature and increase in adoption as the years go on. Sure, it’s price may have fallen, but that’s okay. Its massive increase towards the end of last year was a result of extreme speculation and a lot of “get rich quick” people.
Now that the market has returned to a healthier level, Bitcoin will continue to grow, and more businesses will accept it.
Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.
Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.
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