Bitcoin Successfully Overcome 5 “Bubbles” in the Past Decade
The previous decade has been interesting from a financial point of view. Primarily the evolution of bitcoin is worth taking into account.
This remains one of the most modern forms of money to be introduced in the past 10 years.
The Bumpy Bitcoin Ride Continues
It has to be said that bitcoin’s evolution has not been without setbacks.
In fact, there have been multiple key periods where bitcoin could have failed easily.
As Brian Armstrong explains, there have been five different bubbles.
Every bubble resulted in a massive bitcoin price decrease, yet the cryptocurrency bounced back fairly quickly.
To most, this is a clear indication of how strong bitcoin really is when it comes under increased scrutiny and pressure.
The bumpy ride of bitcoin has been well-documented by the media as well.
Volatility is the name of the game when getting involved in cryptocurrencies.
Unfortunately, this has also created a major downside for the cryptocurrency industry as a whole.
Many onlookers now view bitcoin and altcoins as speculative investments first and foremost.
However, that is how these assets are used more often than not.
The long-term game for cryptocurrency is still up for debate at this time.
It seems unlikely that the volatility will diminish, although that is not necessarily a bad thing either.
Image(s): Shutterstock.com
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JP Buntinx, Khareem Sudlow