If you are a recurrent follower of the cryptocurrency market, it will not be a surprise for you, the behavior not only of the Bitcoin (BTC) but of all the other cryptocurrencies, has given much to talk about since the end of December.
When the world of cryptocurrency started, the Bitcoin was the pioneer, the only one in which the people deposited their confidence since it has a solid trajectory although with a currently fluctuating value (but it should be noted that it exceeds $ 10,000), then appeared a couple of new options and still present in the market today, such as Ethereum (ETH), Litecoin (LTC), Dashcoin (DSH), which have been the most renowned after the giant BTC, and although they were never close to monopolize the market that the BTC had already formed, today's story could be a little different ...
During the end of 2017 various news emerged in the world of BTC, initially it would split into a secondary currency that would be the one that would take its place, with a platform more in line with the volume of transactions made daily with this currency, the name of this initial bifurcation would be "Bitcoin Cash" or BCH, at the time of its release the expectation was great, being called "the coin that will replace Bitcoin" many people analyzed this proposal and it looked attractive, with an initial value greater than 1,000 $ The picture looked pretty good for this currency.
Dramatically in the weeks that followed, the price plummeted to $ 200 thus losing the confidence of the people (including me) and many stopped tracking this currency, apparently nothing could dethrone the great pioneer BTC.
The enviroment remained that way for a long time and many had forgotten that the BCH even existed, a new bifurcation of the BTC was announced, now called Bitcoin Gold (BCG) but with the fiasco already received from the BCH, not many people joined this new movement.
As the weeks passed, due to the large volume of transactions of the BTC and its high market value, the so-called fees (transaction fees) skyrocketed, and its validation time extended remarkably in the same way. Being cataloged as "the beginning of the end", the BCH took this hard blow to the confidence of the BTC and markedly reduced their fees, this caused that it was taken into account again, being today at a value of almost $ 3,000. Then is the currency that will eventually replace the BTC? It's a posibility.
The BTC today is at a critical point, analyzing the graphs seems to be in a standstill, currently several companies are placing their trust in many other coins and little by little the BTC has been moving, its value has stagnated and Its imminent fall is forecast, markets are already accepting other currencies due to the speed of transfers and low transaction costs.
What will be the direction that Bitcoin will take? Soon we will know, we will continue observing his movement and talking about the possible path it could take.
Thank you very much for reading and if you want to share your opinion about the BTC or another currency of your interest, do not hesitate to go through the comment box.