Bitcoins- Its Comeback A Fluke?

You must have seen numerous examples in history that whenever someone rises to the top and sustains the position for a few years, he starts floundering and then the fall is just as dramatic as the rise.

This is an inevitable process and everyone is bound to go through it atleast once in his/her lifetime but what matters the most is how well you handle both success and failure as its catastrophic when you let success go to your head and failure to your heart.

The crypto-currency revolution that burst forth in the late 2000, it came up with high hopes of success and stardom and to everybody’s surprise, it achieved both within a short span of time as everyone started relying upon it and it changed the course of the market currency value.

However, soon after its success, it started coming down with numerous accusations of fraud and duplicity as it failed on many accounts in how to deal with users on numerous issues.

Bitcoin has completed 11 years this year and has registered a comeback of sorts due to prices being doubled to around $9000.

But can this comeback last? For how long? Does bitcoin have it in itself to do wonders as before and somehow regain its lost glory?

The liquidity is stagnant, but the volatility factor has thrown a spanner in its works as it has considerably reduced the number of users in the market as bitcoins are still well short of the $25000 high that it had earned in December 2017.

While there is good news with China praising the blockchain as a breakthrough in technology, it still does not count more than consolation as the numbers are far from satisfactory.

You can read more here at coindesk.com for a detailed report of what the stakes are for bitcoin and its users but the comeback notwithstanding, it still has a long, long way to go to regain its dominance.

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