Is it possible for cryptocurrency to change?
How Crypto Can Be Altered
Yes, but we should reword that question so that it makes a little more sense. It’s not so much that cryptocurrency changes, but rather the technology behind it, and in the case of mainstream cryptocurrencies like bitcoin, big changes are occurring.
Some of these changes are very noticeable. For example, the currency recently managed to spike beyond the $8,000 mark despite a nasty Binance hack that saw more than $40 million in BTC funds practically disappear overnight. Live Bitcoin News reported on this situation a few weeks ago, and only recently did the exchange come back online and resume all trading services.
It was a sad sight to see, but there was some good news to emerge from the situation. For one thing, bitcoin would have radically been altered in the past thanks to a hack that large. Such a theft would have caused the price to drop drastically; it would have fallen, and investors would be out of money.
Well, this time was no different. The price changed drastically as usual, but the change flew to the north rather than the south. This time around, bitcoin ultimately gained in price, and was trading at a higher mark than it has in nearly a year.
This suggests a big (and bold) change for bitcoin. Perhaps the currency is developing a “thicker skin” as of late. In other words, it can be argued that the currency is growing more mature, and less susceptible to outside market influence. Thus, it’s going to take a lot more than a common occurrence like a hack to bring bitcoin down to a low mark again.
This little factoid was recently confirmed by data provider Indexica, which stated in a recent report that there has “been a coming of age for bitcoin.” At only ten years old, bitcoin is showing signs of strength that most forms of fiat don’t exhibit, proving that the coin is truly on course to becoming a strong and capable global currency.
In addition, bitcoin is being examined in the same light as a company’s stock. It’s now seen as a valid and legitimate investment, with many direct traders or investors regularly looking into the future to see where the cryptocurrency will go next and what developments will be made. Such individuals are no longer simply concerned with price; they want to know how bitcoin can potentially affect the financial market.
People Are Looking to the Coming Months
Zak Selbert – chief executive officer of Indexica – comments:
Think about it. Executives will speak of good things they expect to happen on conference calls before they happen. They only mention mistakes afterwards.
This suggests that bitcoin is not only more popular but is heading closer and closer towards mainstream territory.