1. PixelPlaygroundHome
  2. Metaverse Insights

Why did BTS Coin Surge (Is BTS Coin Valuable in 2021)?

• Metaverse Insights • 119 views

Why did BTS coin surge recently? According to data from ChainThinkTank, as of 3

Why did BTS Coin Surge (Is BTS Coin Valuable in 2021)?

Why did BTS coin surge recently? According to data from ChainThinkTank, as of 3 PM today, Bitcoin has surpassed $38,000.

In the past 24 hours, the “BitcoinStandardHashrateToken” trading pair has increased by more than 400%, from 0.005 on January 13th to a current increase of over 30%. On the other hand, “BitcoinCash” (BSV) has experienced a significant decline and is currently priced at 0.018 BTC.

So, why did BTS coin suddenly plummet? Let’s analyze it together with the author (WeChat: o-daily):

1. BTS is a decentralized currency protocol.

2. It can be exchanged 1:1 with other fiat currencies.

3. It does not require any central authority to manage its wallet.

4. Its value is determined by the community.

This makes BTS a safer and more trusted cryptographic network because users can transfer funds and assets without using third-party custody services.

5. It has anonymity and privacy.

6. Since the project team did not specifically work in the blockchain field, its goal is not to replace existing technological solutions. Therefore, the vision of this project is to establish a new global payment system.

7. BTS has a fixed issuance of 10 billion and is released every 10 minutes.

8. BTS will be used as a unit of account for storing and distributing digital certificates.

Is BTS Coin Valuable in 2021?

Recently, the market value of Bitcoin has surpassed Ethereum, becoming the most valuable cryptocurrency at present. However, its development speed has significantly accelerated in the past few years. With the rise in price and the increasing participation of investors, more and more institutions are starting to buy in, and BTS is also being accepted and pursued by more people.

According to the latest statistics, as of the close on November 16th, the BTS coin price has fallen by about 80% from its all-time high in early January. At the end of December 2020, the price of BTS coin once dropped to around $2 and at the end of 2019 dropped to around $4. But now it has risen above $50,000 again, which means its market share has doubled!

In this case, if Bitcoin is considered the most important financial asset in the world, then Bitcoin Cash, Ripple, and Tron are also projects worth looking forward to. Since the beginning of 2019, they have been in a “death spiral” as they try to hedge inflation risks (such as halving) by selling part of their reserves. However, recently, due to the continuous rise of BTC and ETH and the decrease in price, some people have allocated their investment portfolios to these cryptocurrencies, including some large funds such as MicroStrategy and private wealth management companies.

In addition, except for Bitcoin, the total issuance of most digital tokens is still less than 100 billion, and only a few small-scale companies hold these cryptocurrencies. Despite this, although they may still dominate most of the market share, it is difficult for them to maintain their price trend in the short term, so they may not exist in the long run and may be supported by other exchanges or platforms.

However, we should note that there is not much news about Bitcoin in the current market, or there are not many information about Bitcoin that can be disseminated to people’s lives, and there are often negative news at certain times. In fact, as the world’s largest blockchain network, Bitcoin has attracted a lot of attention. But at the same time, the Bitcoin community is also working hard to deal with such incidents:

End of 2020: Bitcoin broke through $20,000 for the first time; 2021: The second BTC exceeded 80 million in circulation; Q1 of 2022: The third batch of BTC reached a total of 30,000 addresses; global central banks announced the launch of digital currency Libra… These factors are driving the development of the entire industry.

Since 2019: BCH hard fork upgrade, EOS development team proposal, and so on… Various news keeps coming out…

Did the bear market in 2019 make many people think that BTS is a bubble? Maybe it’s because people didn’t understand this term at that time and thought it was a scam, but didn’t know why it was like this. In fact, to some extent, Bitcoin does not really have real utility, right? Of course not, after all, Bitcoin does have real use cases now.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/22844/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/10/2023 05:43
Next 08/10/2023 06:05

Recommended articles