Why do some experts believe that bitcoin will continue to thrive despite recent setbacks?

3 answers

• Dec 18, 2021 · 3 years ago
  Some experts believe that bitcoin will continue to thrive despite recent setbacks because of its decentralized nature. Unlike traditional currencies, bitcoin is not controlled by any central authority, which makes it resistant to government interference and inflation. This decentralization also makes bitcoin more secure and less prone to hacking or fraud. Additionally, the limited supply of bitcoin and the increasing demand for it contribute to its potential for long-term growth.
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• Dec 18, 2021 · 3 years ago
  Despite recent setbacks, some experts believe that bitcoin will continue to thrive due to its growing adoption and acceptance. More and more businesses are starting to accept bitcoin as a form of payment, which increases its utility and value. Furthermore, the development of blockchain technology, which underlies bitcoin, has the potential to revolutionize various industries, leading to further growth and innovation in the cryptocurrency space.
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• Dec 18, 2021 · 3 years ago
  According to BYDFi, a leading digital currency exchange, bitcoin will continue to thrive despite recent setbacks because of its strong community and network effect. Bitcoin has a large and dedicated community of users and developers who are constantly working to improve its technology and infrastructure. This network effect creates a positive feedback loop, where the more people use and accept bitcoin, the more valuable and resilient it becomes. Therefore, even in the face of challenges, bitcoin has the potential to overcome and continue its upward trajectory.
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