Despite Tremendous Innovation, Bitcoin Remains the Dominant CryptocurrencyScroll Down
Maybe Bitcoin has lost some of its novelty. Maybe emerging ICOs are much better today. Certainly, EOS has turned some eyes. Ethereum 2.0 is one of the major changes affecting the cryptocurrency market. Ripple maintains its edge while Litecoin slipped a bit. Tron remains strong in a bearish market.
There is indeed a lot of innovation taking place in the cryptocurrency market. Nevertheless, Bitcoin remains the dominant force. It has actually increased its share of the market in recent weeks. With Bitcoin in the lead, the cryptocurrency market appears to be getting ready for a slow bull run.
What might be delaying prices from rising and market caps increasing is the same thing that makes this market great. For many investors, it has a high learning curve. Cryptography is commonly known as an above average intellectual industry. So just maybe, the decentralized nature of blockchain technology has permeated throughout the cryptocurrency market in such a way as to weed out less reputable projects.
Remember all those so-called experts who kept shouting Bitcoin was in a bubble during its climb at the end of 2017. Well, it finally retracted, but not because blockchains are undeserving of valuation. No, the market fell, at least partly, because of scam ICOs and hackers.
Some scams were awful. While they still linger in the shadows, the crypto community exercised its voice to let its anger known. Discerning investors now have the benefit of a more responsible pool of information.
Hackers impacting the crypto community is another story. After all, isn’t the crypto in cryptocurrency supposed to keep investments secure? What is less commonly known is that many of the hacks that grabbed the media's attention actually occurred on non-blockchain systems.
Yes, blockchains are not as fast as they need to be or what has been promised. Sometimes this is for security reasons. In any regard, most exchanges are not running on blockchains, and in the past, they have made security sacrifices for speed. Many of these issues changed and the cryptocurrency market became less volatile. Bitcoin currently benefits from these improvements while steadily rising.