Bitcoin is a decentralized currency, it means no one is in control of it, not even central banks so whether they like or not, the top coin will continue to be use by the people. All they can do is ban this cryptocurrency or prohibit their people from using it but they can't control it. People can still able to buy or sell bitcoin in many ways even in underground exchanges. People has the right to own any coin and this is reason why a court in China ruled in favor of bitcoin because anyone has the right to own cryptocurrencies.
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Fiat have been use since the start of commerce and its been used extensively throughout the history of mankind. Long before the cryptocurrencies are created, fiat is the main currency of the world and majority of the people are using it in their daiky transactions. It still necessary to use fiat because majority of merchants still depend on it and they don't often need to go online to use it or perform some transactions. Bitcoin and other cryptocurrencies are for the ones who know how to use internet.
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Countries like South Korea, Japan, Zimbabwe etc will attest to the fact that Bitcoin has incredibly add up to the betterment of their economy. It creates job opportunities and financial freedom for the people to make payment both online and offline in a very simple form.
The impact on economy is significant if a country decides to legalized bitcoin and impose taxes on every transactions. Big gains can also be made if majority of the merchants and vendors uses the digital currency in all kinds of transactions. If the price of the bitcoin is high, it would benefit the country that uses the bitcoin as one of the alternative payment system or currency.
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Is there any ending or not?
Nobody know when will the bitcoin end but the cryptocurrency will continue its dominance for many years. But there might be a time in the future where another coin will overtake bitcoin and end its dominance. But as long as the majority of the investors continue to support and buy bitcon, it will remain on the top. Bitcoin has more rooms to grow and I believe there more bullruns and all-time highs coming in the future.
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The price of the bitcoin is going up but it hard to predict if this trend will continue. There are some developmentsthat might might bring the bitcoin into another bullrun like the possible approval of ETF nd the return of institutional investors. So I'll continue to hodl more and stay positive while waiting for the next bullrun because if you stay positive, the result will become positive too.
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The price of the bitcoin seems to stabilizes at $6200 to $6400 range but there is still no sign of the bullrun or any significant price surges that will come this year end. The present price of the bitcoin is still good to buy for those who want to invest more on the leading cryptocurrency and hodl it for the next bullrun. Investors can only hope that there will be positive growth next year for the entire cryptocurrency market.
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Risk is always associated with bitcoin and other cryptocurrencies and this is one of the reasons why some bitcoin experts advises everyone especially the newbies to study cryptocurrencies first before investing or buying it. The price of the bitcoin can always go up or down depending on its supply and demand and some developments that affects the price of the bitcoin. Studying the risk factors of the cyrptocurrencies can help in minimizing risks in the future.
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I've been using bitcoin in my online transactions since last year but on a limited basis because I'm also a hodler and been holding some amount for possible price uptrend next year. I recieved ny first bitcoin payment from my first signature campaign late last year and used it buy gadget for my online work. The dollar will continue to exist and it might be evolve into crypto dollar if the US want to. I think many well known currencies in the world will eventually became digitalized also in the future.
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Some countries like the United States doesn't allow its citizens to participate in the ICO but you can still buy cryptocurrencies or tokens from the exchanges. In my country, there is no government restrictions on participating in the foreign or local ICOs but the local SEC have already imposed rules on every business group that are planning to launch ICO in this country. Bitcoin is not yet legalized here but people are free to use it in their online transactions
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Cryptocurrencies creates both winners and losers in trading and in long term investment. Those who want to get rich quickly are mostly the ones who loses because they have no strategies or they did plan well. To become successful in crpto trading, one should study the market and cryptocurrencies first and it take time to do it. Many newbies fell into this trap of getting quick rich forgetting that cryptocurrencies are the riskiest currency to trade.
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I think that banks will only be taken a new shape by cryptocurrencies but won't disappear. No need to dream. Capitalism doesn't easily lose or leave its position.
I agree with you sir, banks may be threaten by the popularity of cryptocurrencies but they will not be vanished in the future. The threat of decentralized virtual coins may cause the banks to upgrade their banking services digitally to match the popularity of the cryptocurrencies. Other banks might also use blockchain in the future and create their own virtual currencies.
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Lots of money was poured into buying bitcoin last year and the bullruns that happened before it reached its all-time high last december attracted many investors. This biggest pump of bitcoin drew different reactions from crypto analysts from being hyped or manipulated and others call it bubble. After a fast growth, comes a slow growth this year but the price of the bitcoin seems to stabilized between $6k to $6400. Only can time can tell when will the big investors return again to pump the market.
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Patience is always needed when you going to wait for the next bullrun or all-time high. I think the bullrun that happened last won't going to repeat this year because it need to accumulate first. There are also some big investors that suffered big losses when the bitcoin's goes down after its last ATH last year and they might not going to invest this year. The next bullrun will remain to be seen in the next couple of years.
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Ethereum is not like the other cryptocurrencies that destined to be delisted from the exchanges. It is a quality coin that equipped with better technology like smart contratcs and a platform where developers can create their own apps. The present low price of ethereum is only temporary due to the continued bearishness of the cryptocurrency market and bitcoin. The 2nd ranked coin will going to recover again at the right time.
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Bitcoin, as we already knew, is a method of payment or transfer of value that is independent of governmental authorities like central banks that traditionally control money supply and the availability of currency in the global market. I think bitcoin can be use as a currency, a commodity and an asset that rolled into one. Some commodities and even some manufactured products have served as currency like gold and silver. Gold and silver have been used as medium of exchange or currency in the past thousand years.
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Bitcoin will continue to become profitable in the next decade because it has a lot of more rooms to grow. The excitements are temporary gone beause of its price downfall and prolonged bearishness in the market. The bullrun that happened in 2017 may not happen again in the following year because it has to accumulate first for a year or before the excitement return to the market again.
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Psychological fear can be minimize if you had enough knowledge on the market you are entering. Many people react quickly when the prices in the cryptocurrency market dipped in large number because they are not yet prepared for it. To overcome fear in crypto trading,you should prepare for it by learning how the cryptocurrency works.
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It is a good news that more and more governments have accepted the presence of bitcoin. This is also an incentive for other governments to be more open to the bitcoin market
Some governments that recently banned the use of bitcoin seems to have changed their minds ad one of them is China. One of China's arbitration court ruled in favor of bitcoin and it said that everyone has the right to own cryptocurrency. In the Philippines, its government have already started its own road to bitcoin adoption or legalization by giving license to those crypto exchanges and this move will benefits a lot of crypto holders.
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it's better to have cryptocurrency with that rule, as well as to the discipline of crypto users and to prevent people from using crypto scams and to avoid hacking. there is a better regulation to learn from the crypto users not to disobey.
Most governments favors regulation and this seems to be inevitable to happen in a country that want to put all finance and currency under their control. Control is necessary for the government so they can be able to run the economy and the whole nation into the right path. Scams, hackings,money laundering and other illegal activities that uses cryptocurrencies are some of the reasons why the authorities wants to impose some regulation on crypto exchanges.
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A bullrun like the one that happened last December 2017 will not likely be followed by another similar uptrend in the following year but it would take time before another bullmarket will take place. So the future of the cryptocurrency market will depend on some factors that may happened in the days ahead. These factors must bring back the confidence of investors and buyers in investing more funds to bring back the bullmarket.
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