There was a time when people were transacting thousands of Bitcoin across the web for various purposes, be it betting online, paying tips casually, or even buying drugs. A man even paid 10,000 BTC for two delivered Papa John pizzas. But little did he and every other Bitcoin spender know that their few cents worth of a digital asset would one day become as valuable as $65,000 per token.
Ah Litecoin, popularly considered the silver to it’s more famous brother, Bitcoin. While Bitcoin hogs all the limelight and is considered to be the de-facto protagonist of the crypto world, Litecoin has silently become a trusted, cheaper, and more technologically malleable asset.
If you have owned Bitcoin for a while, you would probably understand that cryptocurrency comes with inherent liquidity issues. Of course, you might have made millions of dollars worth of profits via your Bitcoin investments but realizing those gains in real money remains a daunting task.
2020 emerged as the year of cryptocurrencies as more investors dumped their low-yielding traditional safe-haven instruments to seek profitable opportunities in projects that offered more returns on their investments.
The third week of May saw a sharp decrease in the prices of the cryptocurrency market. Mainly, the market felt it compared to April’s numbers, when the most popular cryptocurrencies, such as Bitcoin, reached their record high volumes.
When Elon Musk was ranting openly about how bad Bitcoin is for the environment t — even though the billionaire investor had his company Tesla pour $1.5 billion into the flagship cryptocurrency — one of his arguments concerned its public ledger’s centralization.
BTC/USD finally showed strengthening signs of becoming an independent asset. The cryptocurrency’s lack of responsiveness to Mr. Mnuchin’s anti-economy proved its resilience.
At one point on Monday, Bitcoin was down 4.30 percent from its opening rate at $15,482.
The first time Bitcoin witnessed a US election was when it was only three years old. The cryptocurrency was about to celebrate its second anniversary as a tradable financial asset on now-defunct Mt. Gox exchange – even as half of the world assumed it was a scam, a Ponzi scheme, a terrorist financing/money laundering tool, and whatnot.
With a history of firing nasty comments at Bitcoin, the Wall Street mammoth, ranging anywhere from “bubble” to “financial scam,” appeared with candies in its hands this time.