One of the hallmarks of any cryptocurrency is the rapid swing from high to low pricing. This is one of the reasons many investors see the potential for big profits in the market. However, and it is important to note, Bitcoin and other cryptocurrencies were not designed as investment vehicles. They were developed to be a decentralized financial vehicle that allowed people to bypass the cumbersome process of dealing in government currencies.
The latest in Bitcoin news seems to substantiate the claims that investing in cryptocurrencies is not without risk. Trends in different cryptocurrencies have an impact on the value of Bitcoin, but most experts see Bitcoin as the most stable of all the cryptocurrencies on the market today.
The Impact of other Cryptocurrencies
The latest Bitcoin news is linked to the dramatic and sudden growth in the investment of the new cryptocurrency, shiba inu. Also named after a dog, like Dogecoin, it is making waves in the market. This naturally creates a change in investment in the more mainstream Bitcoin, causing a drop in value from the high of $67,000 at the beginning of October.
Driving Bitcoin Up
However, as reported in the latest Bitcoin news, the value of Bitcoin is still over 1 trillion dollars, with this representing almost a full half of the entire crypto market. What will likely drive the price of Bitcoin up gain is trading of the new Bitcoin exchange-traded funds or ETFs.
Leaders in the industry are predicting that prices of Bitcoin could get as high or higher than $100,000 at the end of the year and into the new year. If this will happen is still unknown, but it is definitely something to watch.
To read about the latest Bitcoin news, be sure to follow the Blockchain Asset Review. Articles, blogs, and commentary are available at Sitename.
