. For the naysayers who say Bitcoin is not a real monetary system, I say to you neither is the US. Dollar. The dollar is only worth its current value because the US Federal Government says its worth that. Well in the crypto-sphere Bitcoin and all the other alt-coins such as Ethereum, Litecoin, Bitcoin Cash and the litany of others all have valuations based on the crypto community and other investors that have backed the various companies and individuals who are creating these coins. Bitcoin is the current king of crypto-currencies with Ethereum in second place. Bitcoin reached $20,000 in mid 2018 and has since dipped down to the $4000 mark. Are people running for the hills with hair on fire screaming "Then end is near?" of course they are but these are the investors that allow their emotions to rule their investment strategy. When you buy and sell based on emotions I will guarantee that you will lose money. When investing in crypt-currencies you need to do you research some areas to look into may be.
*Market Cap
*Market Share
*Current Supply and Total Supply
*Current Price VS Highest Price
*What Technology is backing the currency
The list above is my methodology for researching crypto-currencies. Am I an expert in crypto-currencies I would have to say that I am not but I am a college graduate who majored in business. I am not a financial professional but when you are looking for a crypto-currency expert I would be willing to say that since this technology is so new that no one and I repeat NO'ONE is a crypto-currency expert. This technology is emerging and changing and it is going to be people like you and me who shape it. Yes, Bitcoin is down from its high but on the long term since Bitcoin was first brought to the market at something like $0.08 / Bitcoin it is on the upward trend. I would consider myself lucky if I bought Bitcoin for pennies and sold it in Oct of 2018 when it was $20,000 / Bitcoin. That is exactly where we are today. Bitcoin costing $4,000/Bitcoin now and when this rebounds and mark my words "Bitcoin will Rebound." those who bought if now will be very happy when their are able to realize their gains.
Bitcoin is the king of crypto-currencies, when the king kneels so do all others in their domain but when the King rises... So do all of his people.
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I know the bitcoine price will rise
Of course the price of Bitcoin will rise. It may take a couple months or maybe a year to reach the heights it reached in 2018. The question posed wasn't will bitcoin rise. The question was will other crypto-currencies rise when the king of crypto-currencies rises. Many people trying to get into the this emerging market are faced with a lot of technology that many people do not understand. Blockchain is revolutionizing the way we transfer data from peer to peer. Many other cryptocurrencies are using blockchain technology . Bitcoin with its current $3600 per coin price tag may be out of the price range of your average or beginning investors. So for the average person just starting out if they purchase bitcoin unless they are investing thousands of dollars they are purchasing a fraction of a bitcoin. With the other 3500 alt-coins in the various exchanges where do beginners start?