Stable Coins Gaining Traction – Bitcoin and Altcoin Headed to SucceedNovember 3, 2018
Stables coins are gaining traction when compared to the Bitcoin and Altcoin market.
Stable coins are establishing themselves as a new variant of cryptocurrency; in fact, they are considered more viable. Stable coins provide with the decent utility by serving as a digital tender.
There is true decentralization with Bitcoin as the value is not related to any external entity. Therefore, debates based on political utility are ruled out. Thereby, the operation of the cryptocurrency across international borders is made possible as a peer-to-peer transaction.
The value of the projects based on Bitcoin and the Altcoin market appreciate based on earned value and price speculation. This is a lot similar to the stock market.
The bear market that spanned across the most of 2018 has got investors slow down due to the variability in price trends. The price dropped and traded sideways, which was the opposite situation when compared to the massive gains made in the year 2017. The crypto industry of 2017 was completely different from that of 2018.
Stable coins have the characteristic of price stability, and cryptocurrencies like Bitcoin and Altcoin have the potential of creating an investment gain. By virtue of their individual features, each of these coin types have a bright tomorrow in the cryptocurrency market space.
Stable coins are appealing because their price is stable and the volatility is very low. The technology behind stable coins makes use of utility, security and the overall advancement of cryptocurrency in the blockchain market making it a viable digital tender. For as long as the entity to which the stable coin is pegged is functioning well, stable coins will have price security. However, Bitcoins and Altcoins continue to be the sources of exchange of value.
Regardless of the price volatility, Bitcoin comes with its own set of benefits. Investors who are looking for price benefits will appreciate the existence of risk. Profits are drawn by those who can sustain the risks related to fluctuating asset price.
With the cryptocurrency market continuing to attract institutional and retail investor interest from the mainstream, Bitcoin will continue to be looked upon as a strong investment. The boost in the adoption of the crypto is not only based on investment dollars but also on technological development.
Some analysts compare the adoption of cryptocurrency to a virus, which infects new investors. With an increase in the user base, the technology, on the other hand, becomes viable, and the potential for the exchange increases exponentially.
Stablecoins are considered better because they come in handy when it comes to everyday transactions and small purchases. Therefore, both of these crypto variants though they operate independently will find success in the marketplace.