Lets look at what is happening in bitcoin recently.
Bitcoin jumps nearly 70% for August to record high, offshoot 'bitcoin cash' falls to more than one-week low. I think i will stick to the leader BITCOIN. Not the offshoot.
Bitcoin climbed to a record high above $4,700. Remember the coin has a limited supply to be mined, and will become a rarity soon! Just like in the gold rush!
Here are 14 tops things most crypto investors are not looking at :-
Digital currency "miners" are finding it more profitable to mine bitcoin versus bitcoin cash.
New investors on the sideline are JUMPING in because of gold-like behavior amid the increased North Korea nuclear threat.
Bitcoin cash is not performing as well as thought. I keep telling people to stick with the leaders, and not the offshoots or folks. Stick with leaders not the laggards.
Hovering around $4,603, still more than quadruple in value for the year and up about 60 percent for August. Where else can you get those gains?
Cash is useless in Venezuela thanks to hyperinflation - so people are turning to bitcoin. Cash is useless in Venezuela thanks to hyperinflation - so people are turning to bitcoin time and again.
While digital currency "miners" temporarily found bitcoin cash more profitable than the original version to mine, by Tuesday it was 32 percent more profitable to mine bitcoin, according to data from the Coin Dance.
Last month I reminded, institutional interest in bitcoin is rising. It's just new money coming in, fresh, that are now off the sidelines. I noted the bulk of the gains in bitcoin came just around the time of the U.S. stock market open Tuesday morning. This is uncanny.
Also bitcoin's gains to investors looking for a safety trade after North Korea fired a ballistic missile over Japan. Remember North Korea punting missiles last time, the price of bitcoin rocketed then. Bitcoin is now seen as a safe haven.
With both bitcoin and ether, we're seeing a flight to safety due to the issues in North Korea, similar to when investors previously flocked to gold out of equities during previous wars, when you look back in history.
Demand for bitcoin and ethereum from Japanese and South Korean investors remained strong. Trade in the Japanese yen and South Korean won accounted for nearly half of all bitcoin trade volume, while won-denominated ethereum trade accounted for about 22 percent.
Gold futures for December delivery extended Monday's jump to climb more than half a percent Tuesday to $1,331.90 an ounce, their highest since Nov. 9. But that is physical gold, BITCOIN is seen as the new digital gold. Its only gaining in popularity.
NOTE : bitcoin will become the "digital gold" of cryptocurrencies since its supply is limited to 21 million but demand remains strong as many investors use bitcoin as their way into the digital currency world. It will change the world, and already is.
Monero Is Skyrocketing Thanks to Darknet Druglords ...Dark web finds bitcoin increasingly problematic, which means it has a cleaner undertone and is not seeded ideologically as a coin that support criminals, or the criminal world. That is a good thing.
Currently the value of all digital currencies only reached $160 billion Tuesday. Bitcoin had the largest share at nearly $75 billion, while ethereum was second with a market value of $34.7 billion, the site showed.
Like I have repeated several times before these are the KINGS of the world coming. BTC for COINS, and ETHEREUM for Blockchain.
We are in humble beginnings for both. And there are many constraints and volatility ahead. But you can see why bitcoin is seeing lots of positive action. The future seems bright it seems. Time will tell. :-)