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I believe the price of Bitcoin is increasing. For example, last week Bitcoin's market capitalization increased from 42.5% to over 45%. The price of the Altcoin is still not able to respond, while the price of BTC is climbing faster. While some altcoin still depends on the price of BTC, other altcoin can easily be. sell off to get the BTC. High Bitcoin Dominance Index is seen as a sign that investors are still paying great attention to this leading electronic currency.
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In my opinion, this market will disappear in five years. This is probably because many countries around the world do not consider this a legitimate currency, even banning exchange transactions. Although the prices of currencies such as Bitcoin have risen sharply over the past few years, such overheating has made people afraid.
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In my opinion, others coins can not move fast than Btc. You know, Bitcoin is the top ranking algorithm on the charts. Investors always choose Bitcoin because of its advantages. Bitcoin is considered one of the most liquid asset classes in the financial market by global Bitcoin exchange systems, trading platforms, and brokers. Bitcoin users can easily exchange Bitcoin for cash or gold or other electronic money instantly, at low cost. Moreover, Bitcoin has long been in the hearts of people and other currencies later with new points, but there are still many disadvantages.
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In my opinion, Nigerians are very interested in bitcoins and other coding currencies. Many people now understand that bitcoin is not a Ponzi scheme like MMM, and a large number of Nigerians subscribe to the platform of the digital money market every day. Hence, i think in the near future, bitcoin will probably flourish in Nigeria and be accepted by the government for legitimacy
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I know, King's College, becomes First U.S. School to Accept Bitcoin.They will allow the uses of the digital currency to pay tuition, submit donations and deal with other expenses. That way, they decrease their costs while simultaneously allowing their students to be a part of this exciting new technology.
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Your conception of the pump and dump scheme is right. The Scheme did happen in the stock markets. The cryptocurrency markets are quite similar to the stock ones, so I think that Scheme might have been used to manipulate the crypto's price.
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Bitcoin has got into a downfall and not bounced up yet. Despite the sad fact that many people are withdrawing money from the cryptomarket. it's good, because such a period like this will get rid of waving investors who only wanna earn easy money. When Bitcoin recovers in the next period, they definitely feel "missed the boat". Until that, the market is healthier.
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Bitcoins are not guaranteed by underlying material assets, and there is no bank in the world that is obliged to exchange virtual units for real currency. This may discourage people from putting their money into Bitcoins.
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We can see that Bitcoin attracts investors because the profits that this virtual currency brings is very attractive. However, it is also the most risky currency.
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Scammers use Bitcoin's fame as well as other cryptocurrencies' fame to hoodwink unaware people into investing in their system. Those scammers offer extremely high interest rate and a well-above average returns. More lucratively, they promise to pay tip for those attracting others to invest. But all of a sudden, those clever tricksters vanish into thin air. Consequently, the victims blame on Bitcoin for scamming their money and consider it as a Ponzi Scheme.
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Before investing into any financial strategy, you have to define what you are actually trying to do. Investing in cryptocurrency is risky and the market is highly volatile. You can literally make or lose hundreds of dollars every day from just one Bitcoin because of how rapidly the price changes.So be prepared physically and mentally
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