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Bitcoin is king, ETH is dead, Vitalik Confirms



Why all altcoins will be zero in the upcoming time but bitcoin will still rise.Understanding the functionalities of Bitcoin which is better than Altcoins.

Why all altcoins will be zero in the upcoming time but bitcoin will still rise.

Understanding the key functionalities of Bitcoin which makes it a better option than the other Altcoins:



Many cryptocurrencies in the market were developed after Bitcoin due to the scalability as well as security issues which the network experienced due to the high amount of network congestion. Most of the Altcoins stood the test of time and have become some of the most prominently used cryptocurrencies along with Bitcoin. On the other hand, some of them have most of them have just added on to the pile of cryptocurrencies that are absolutely worthless to the society. Therefore there are both types of Altcoins which are predominantly incorporated in the cryptocurrency domain in general. The Altcoins along with Bitcoin have been very fluctuating in the cryptocurrency market in general as it is in its developmental stages. According to experts, this volatility would be eradicated in the future.


Bitcoin is dominating

From time immemorial it has been witnessed that the prices of the Altcoins have been fluctuating along with the prices of Bitcoin as Bitcoin is the most dominant cryptocurrency of all times. However, the specific relationship between the pricing of Bitcoins along with other Altcoins has not been deciphered until now. But on a general basis, it is it has been witnessed that the prices of Bitcoins along with the Altcoins go hand in hand and are directly proportional to each other.

In accordance with the most recent cryptocurrency production, the price of Bitcoin will reach up to $40, 000 levels, whereas, the prices of Altcoins will receive a major blow. According to the predictor, the cryptocurrency tokens would not be able to manage the popularity and the risks required in the market and therefore it is witnessed these days that many of the cryptocurrency tokens turn out to be a scam. Specifically, by the end of 2018, 5 or more Altcoins would be exposed as a scam.


Let us try to decode the fundamental concepts that make Bitcoin highly valuable and the other Altcoins not:


1. The cryptocurrency blockchain platform is the only among 1500 other similar platforms which are absolutely censorship resistant, which means no government authority, by any means, can snatch your Bitcoins from you.  Bitcoin even provides an anonymous and store of value which the other Altcoins fail to provide.


2. Bitcoins have proven to provide an anonymous medium of exchange, as the cryptocurrency users can effectively transfer the data without the intervention or resistance of any government or financial institution.


3. Bitcoin is very different from all the other Altcoins as it is inflationary proof in nature. This concept of inflationary nature can also be applied to many other Altcoins but due to the other set of Technical complexities, it cannot be compared with Bitcoin.


Further Bitcoin endorsements

Also, many cryptocurrency experts have predicted the exponential rise of the Bitcoin price in the near coming future. Some of the experts in the list, include John McAfee, the most famous former computer programmer and currently a cryptocurrency enthusiast. He has predicted the Bitcoin price to reach up to 1 million dollars by the end of 2018 and his arguments are supported by the technical specifications and his last year prediction of $7, 000 was also well surpassed.

Even Tom Lee, a key personality in the Fundstrat, predicts that the value of Bitcoin might reach up to the levels of $25, 000 in the near coming future. In fact, he considers $9, 000 to be a very low level for Bitcoin, as a high number of cryptocurrency buyers would be available. This has never been witnessed in the case of Altcoins. The cryptocurrency believer is looking forward for all the institutional investors, in order to come forward and keep the market capital of Bitcoin in stable condition  


Bitcoin is highly reliable than the Altcoins on a long time basis

The price predictions on a long-term basis would be highly reliable as the intermediary fluctuations would not be worth considering in case of Bitcoins and not the Altcoins. It is also estimated that it would become the topmost virtual cryptocurrency in the future. As Bitcoin is considered mostly to be a store of value the prices are high and expected to increase. Some of the other Altcoins such as Ripple are on the verge of extinction as a cryptocurrency itself.


Donald Trump policies push Mexico to Bitcoin



Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse.

Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse that remittance payments of Mexican migrants in the United States of America will potentially be the target of new restrictions essentially ending the possibility of Mexican migrant workers to be able to cheaply send money back home to their families.


Mexico adopting Bitcoin:

Mexico has been experiencing a massive increase in the number of transactions on localbitcoins. Mexican migrant workers are believed to be exploited by the remittance companies which are charging around 10% fees. What is essentially being discussed here by the Trump Whitehouse is a new tax on these migrant workers. The number that they are currently floating around is a 3% tax on the remittances going from the USA to Mexico. This may not seem super crazy but considering the $33.4 billion which were sent to Mexico in 2018 alone, that extra 3% could mean $1 billion more per year for the United States government.


98% of the transactions that were sent during the last year, were sent via electronic means which means that there is actually a very strong remittance route that is ready for mass disruption going from the United States to Mexico and Bitcoin could be the perfect answer. However, the average size of a remittance payment from the United States to Mexico is $322 last year and the problem is that if the fees rise again exponentially on bitcoin, then bitcoin might not be the ideal cryptocurrency for these kinds of smaller remittance payments. Maybe we are going to see some other cryptocurrency being adopted in that situation. But regardless of which cryptocurrency is used, we can see that there is a clear need for disruption as government policies again seeks to impede or overly exploit the free float of money.

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Bitcoin Crashes Downwards: Is BTC Going to Fall Back to $4000?



Bitcoin fell down to test the $5000 support level. If the current support around $5000 is broken, BTC might really crash to $4500 and $4200 support levels.

Bitcoin fell down to test the $5000 support level which is the most crucial level for BTC currently. The downward correction started after bitcoin tested the $5500 resistance level yesterday at around 18:00 UTC.


The resistance around $5500 proved very strong and pushed the price downwards sharply. The sharp declining pattern attracted a lot of sellers which even pushed the price below $5200 support level and BTC tested the $5000 support reaching up to $5018.

BTCUSD Price Chart- Coinbase

BTCUSD Price Chart- Coinbase

Bitcoin is currently trading around $5070 (at the time of publication) showcasing a bearish pattern.


Bitcoin Price Drop:

The sudden price drop has led to people speculating that BTC might soon crash back to the $4000 range. Earlier, analysts were also predicting the sudden rise of bitcoin to be a conspiracy. Also, Bloomberg had also called the sudden rise a Blip. If BTC had successfully crossed over the $5500 range, the next major resistance was around $5800, however, BTC fell sharply losing more than $400 in value over the last 24 hours.


The bearish move does not clearly indicate a crash towards $4500 and $4000 range, however, if the current major support around $5000 is broken, BTC might really crash to $4500 and $4200 support levels. With the price of bitcoin falling, other major altcoins are also in the red zone today with Ethereum falling more than 8% in the last 24 hours, XRP falling more than 6% and Litecoin falling around 12% in the last 24 hours.

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China to completely ban crypto mining: Bitcoin about to Crash Hard?



As reported by Bloomberg, China is moving towards putting a complete ban on mining bitcoin and other crypto as it causes serious wasatage of resources.

As reported by Bloomberg, China is moving towards putting a complete ban on mining cryptocurrencies such as bitcoin. In accordance to a document posted by the National Department and Reform Commission of China, the mining of cryptocurrencies should be completely banned as it causes serious wasatage of resources.


China is known to be the largest hub of cryptocurrency mining with huge mining rigs been set up in the country. Earlier, China has also banned small investors to invest in security token offerings or STOs and only large investors with more than $1 million funds are allowed to invest in such projects. Now, the country is planning to take strict action against cryptocurrency miners in the country.


Cryptocurrency miners were earlier attracted to China due to their cheap electricity rates and subsidies in the country, however, due to the strict actions being taken by the government with the guidelines of the NDRC which has disincentivized cryptocurrency mining, a lot of miners have shut down their operations or moved to other nations.


Largest Mining Pools in China:

China has been a hub for some of the largest cryptocurrency mining polls. Even though the mining pools have been shifting to other countries, there has been some effect of the ban on the market for bitcoin and other cryptocurrencies as the mining is a major part of the overall working of cryptocurrencies.


How do you think the complete ban on cryptocurrency mining in China will effect the bitcoin price? Tell us in the comments section below.

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