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Although Bitcoin, the king of cryptocurrencies, is seen as volatile in its price action, it could be considered as an evolution into a sovereign financial global status. As more people understand that Bitcoin and its ecosystem are exponential technology, this scarce, deflationary, immutable, trustless, geopolitically neutral payment network is the most prominent financial innovation of a lifetime.
According to one respected analyst now stating that Bitcoin’s forthcoming halving event could compel Bitcoin towards and even surpass its previously established all-time highs. Historically Bitcoin’s halving has lead to 100% + gains and as PlanB, a popular cryptocurrency analyst explains in a recent tweet, at the time of 2012 halving when BTC was at $5, it rose to $12, which is a gain of 140%. Likewise with the 2016 Bitcoin halving which led its price from $314 to $627 which is close to a 100% surge.
By the time of the next halving which is in 9 months and assuming that history repeats itself, it’s a real possibility and fair to assume the 2020 halving will lead to a price surge of a corresponding volume. This means given the current price of $10,100, BTC could well be trading anywhere between $20,200 and $24,240 in nine months' time.
What about the growing instability in the global markets? Could this also be an impetus to actually assist Bitcoin to reach new highs? With the loss of faith in global leaders, the banking cartel, along with decisions being made, there’s little wonder more people are turning to Bitcoin and other strong cryptocurrencies.
Marty Bent, a popular figure within the crypto industry has this to say,
“Imagine not having any skin in Bitcoin right now: Trump is at war with China and the Fed. Mark Carney is calling for the end of the USD as the reserve currency of the world. Weaker currencies like the Argentine Peso and Turkish Lira are crumbling. Chaos. Everywhere,”
He explains that growing instability in the global markets makes investing in BTC a no-brainer.
It is well-known Bitcoin is the first cryptocurrency and considered king. Some have argued that other strong cryptos will take over in due course. I see Bitcoin as a conduit and can work synergistically with altcoins with substance, allowing them the transferability and liquidity needed to increase velocity. The ones with a true purpose will make their mark in crypto industry history. Indeed, in recent months many altcoins with a lower-quality and haven’t been popular have been delisted from exchanges. But the strong will survive. Who are strong and why?
Well, they sort of are, but not really. The purpose of Ethereum differs from Bitcoin. They are both a distributed public blockchain network, however, there are some significant technical differences between the two. Notably, the most important distinction is that they differ in purpose and capability.
The Bitcoin Blockchain is just one particular application of Blockchain technology. It is fundamentally a peer to peer payment system. The Ethereum Blockchain focuses on running the programming code of any decentralized application. To put it simply, Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications.
Bitcoin is first and foremost a “Currency”. Blockchain is to Bitcoin what the Internet is to Email. Blockchain is a big electronic system in which you can build all sorts of applications suitable for any industry, including centralized entities, meaning any services that are centralized can be decentralized on the Ethereum Blockchain.
Currency [as in Bitcoin] is just one use-case in the bigger scheme of things.
The Ethereum Blockchain has some extraordinary capabilities. Just one of those is the Smart Contracts. It’s a contract that completely handles the enforcement, the management also performance and payment. A smart contract is a phrase used and is described as a computer code that can facilitate the exchange of money, content, property, shares or anything of value. As smart contracts are run on the Blockchain, they run exactly as programmed and are not subject to censorship, fraud, downtime or 3rd party interference.
Ethereum is also being used as a platform to launch other cryptocurrencies/altcoins. This is known as an ERC20 token and allows individual companies and developers to issue their own coin.
One such company that has implemented the ERC20 token and Smart Contract is Markethive. This is in the form of the Markethive Coin [MHV] which is an actual Consumer Coin, not a token, and the Incentivized Loan Program [ILP - Smart Contract]. Markethive being the first Social Market Network built on Blockchain is attracting and gaining high-level exposure due to the nature and fabric of what Markethive stands for and delivers.
Markethive is a complete autonomous ecosystem consisting of three components. Community, Technology, and Liquidity. Markethive has all three groups to bring this collaborative decentralized platform to life as a viable and lucrative platform where not only can they share in the success of the company, but also where its Entrepreneurial members can make a difference, not only in their lives but in the world.
So the types of altcoins that will survive the crypto exchange purge are the ones with purpose, products, and services that can truly assist the people en masse.
Markethive has been in Beta for the last four years due to the decision to convert to the blockchain and this was for multiple reasons…
While we wait for Markethive’s internal exchange and wallet to be released, Markethive has listed its coin, MHV on a second 3rd party exchange. Coupled with the Markethive Exchange, this helps to create a true value of the coin as it can be traded against other coins. It’s getting the coin out into the marketplace where it needs to be for added viability.
Bitcoin and other respected altcoins will play a big part when it comes to liquidity and the ability to transfer and exchange to whatever currency you desire. So, in fact, they can work in synergy with each other, all with a similar but different purpose. It’s also a known fact that when the granddaddy of cryptocurrency, Bitcoin, rises, many altcoins follow suit.
Markethive is making great strides with the implementation of brilliant technology and there’s so much more to come. Every day we are moving closer to launch and the realization of what we have here at our fingertips is becoming all too apparent with new members joining every minute and an ever-improving Alexa rank.
And remember, Markethive is truly dedicated to your education, success, and sovereignty.
Deb Williams
Market Manager & Senior Writer for Markethive, a global Market Network, and an avid enthusiast for the Crypto/Blockchain Industry. Also a strong advocate for technology, progress, and freedom of speech. I embrace "Change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals.
