Bitcoin

Looking Beyond the Bitcoin Price Dip: Solid Technical Improvements Ahead

JP Buntinx | March 10, 2018 | 6:00 am
Bitcoin

Looking Beyond the Bitcoin Price Dip: Solid Technical Improvements Ahead

JP Buntinx | March 10, 2018 | 6:00 am

In the cryptocurrency world, negative trends tend to skew people’s perception. More specifically, everyone is focused on the current Bitcoin price dip. It makes them lose track of the bigger picture, which still paints a very promising future for the world’s leading cryptocurrency. A lot of positive things will happen in the next few years, regardless of the current Bitcoin or future Bitcoin price.

The Bitcoin Price Dip is Temporary

If history has taught us one thing, it is how the Bitcoin price tends to bounce back strongly. We see big dips every single year and often end the year with an all-time high. This cycle has been present for some time and seems destined to repeat itself. Speculators may feel differently about that outlook right now, though. This recent Bitcoin price dip has a lot of people concerned, even though things will be just fine.

More specifically, every Bitcoin price dip is a new buying opportunity. Lower prices will attract new speculators and investors alike. This is the way it has always been in the financial sector. Cryptocurrencies are no exception in this regard. Everyone knows Bitcoin hit $19,000 last year. There is no reason to think we won’t see that price again in the future. It may not happen in 2018, but it will eventually happen again. Some people even predict a BTC value of $29,000 by the end of this year.

Fueling the future Bitcoin price growth will be some major technical developments. Most people already know SegWit adoption is increasing as we speak. This leads to lower fees, normal confirmation times, and transaction batching. All of these trends are incredibly positive for the world’s leading cryptocurrency when looking at it from a long-term perspective.

Other Major Developments on the Horizon

SegWit alone will not make Bitcoin great again, though. It does pave the way for the Lightning Network. This scaling solution seems to be closer to a main net release every single day. When it goes live, it will certainly shake things up for all Bitcoin users around the world. Even so, other technical developments are needed to improve the overall ecosystem.

In the near future, we will see more sidechains such as Rootstock. There’s also the likes of drivechain, Liquid, and a few other sidechain projects to keep in mind. All of these new features will unlock new possibilities for Bitcoin in the future. In time, they will also impact the Bitcoin price in a positive manner.

For those looking for more privacy, Bitcoin will have you covered as well. Tumeblebit and ZeroLink are two projects definitely worth keeping an eye on. Their integration may not necessarily happen in 2018, but the overall improvements will attract fresh capital regardless. The future is looking extremely bright for Bitcoin, assuming people are willing to see it. Looking past the current Bitcoin price dip is difficult, but this is only a temporary setback.

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  • Erwin Witt

    03-10-2018

    There are no solid technical improvements for Bitcoin at this time. Everything I see as an analyst, I haven’t been wrong yet since first giving the coming major selloff for Bitcoin on goldseek months ago,, suggests a deepening bear market that is going to grind down for a long time. So, what are the technical indicators. The only positive indicator at this time is that the price is currently above the 200 day moving average. There is almost 100% certainty that over time daily price will close below this average. My target over the next 6 months to 1 year is 5000 if the 200 day moving average is broken!

  • iNGO

    Well, good for you if you know the future. We know something else, too, namely that the Mt. Gox trustee still has a lot of BTC to sell as well as there is a huge amount of BTC in the hands of hackers and early buyers who are all most likely to continue the milking of the crypto world for what it’s worth. That means for one that the price can only climb as high as they deem high enough to sell their assets and cash in, for another, if that has been repeated often enough, and may it already have, people have had plenty of opportunity to buy at low prices, so why buy more? Ony to get milked at ever lower highs? The only chance for a sustainable cryptomarket lies in abandoning the dependence from BTC, which in my opinion is the pest of the century. Altcoins as representations of new technologies and independent market opportunities are the future, as well as miningless currencies like Nano. They cannot properly develop if they are so sickly tied to BTC, which is an outdated first rendition of this new field of great propects.

    • Mark Berger

      There are no real technical improvements outside of Bitcoin. There is only decentralization and scams. Any technical achievement found in another token will quickly be implemented in BTC. We see Bitcoin developers now working to incorporate the core use cases of Monero, Zcash, Ethereum, Bcash and others. There is Bitcoin and there are the wannabes. It’s very clear to me.

      • iNGO

        Do you think that our planet needs a new country that does nothing else than consume energy? Well, I still hope you are right and Bitcoin devs will learn from other models and take out mining as an essential component. And, what was bad again about decentralization? Any road, I wish all hard working wannabees with good solutions best of luck. P.S.: Above, I exaggerated. I meant the pest of the decade, not the century. Greetings.

        • Mark Berger

          Bitcoin is more energy efficient than Gold and more energy efficient than the USD. You can’t get something for nothing and the energy required for mining is a big part of what secures the Bitcoin network.

      • Ron FinFinFin

        Bitcoint will most likely NOT be the main coin in the near future, as there are other coins/ blocks chains that are moving past Bitcoin……Look at it this way, for any coin to become mainstream they have to be more than just a lot of talk. They actually have to be widely used, trusted, etc…..As is ANY type of currency, If there are large swings in value, nobody will trust it as a main currency…and with Bitcoin swinging as much as 30-40 percent swings, this wont establish itself as a main currency.

        • Mark Berger

          Bitcoin is not just a currency like USD and Euro. Bitcoin is not just a form of sound money, like gold. Bitcoin is not just an investment like stocks and bonds. Bitcoin is all of these things and MORE. Bitcoin is a completely new asset class which the world has never seen before. If you can see this, you will appreciate the value of Bitcoin. There are no competitors to Bitcoin and will mostly likely never be any due to the enormous network effects and computing power already invested and established.

    • Mark Berger

      By the way, the Mt. Gox trustee is not able to sell any more BTC until mid September.

      • Ron FinFinFin

        If you perform a search on this topic, there is a story that provides details, that this is NOT true, and he can sell at any time.

        • Mark Berger

          Ron – show me the link for that story. I don’t see it.

          • Ron FinFinFin

            Sorry I am not searching for it again, Search Bitcoin whale, there is a story in one of sites that speaks about the Japanese Whale Lawyer, Who is selling to reover the lost Mt. Gox, funds, and the article goes on to speak of abother lawyer, saying the Whale can sell at any time, and that Sept, is not the case.

  • Leo group

    to collect some cryptos free , Airdropping is extremely popular now a days , simply google “ @ cryptoannounces ” and join for latest Free Airdrop or bounty program.

    • Ron FinFinFin

      Not all airdrops have worked out well ! Callisto, LiteCounCash are good examples

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