Hy Members of Leo, I hope the day is going fine for you?
I wish to present my views as regards the superiority of bitcoin in the crypto verse and my suggestions as regards considering for the future.
Bitcoin is referred to as the kind of crypto currencies because it was the first ever invented decentralized currency of high value. Currently as at the time of writing this, the value of bitcoin worth’s over $16,811.
However having experienced such a dip from the all time high of $69,000, it still remains the king but here are my views or suggestion as regards whether or not will bitcoin still continue as king till 2024.
I will consider the following reasons
High bitcoin Transaction fees
The high cost of bitcoin transaction fees might in some way scare investors which may decrease its wider adoption of holders.
Having been calculative of the amount that could be charged as gas fees over your own asset transaction, you may be tempted to liquefy your asset to purchase major altcoins as an alternative because the economy is quite grinding hard and whatever that could be done to minimize spending or expenses will need be embraced as a better alternative with lesser risk.
Altcoins are also gaining momentum
So pretty good that altcoins are also on the track to have liquidity over numerous exchanges with even lesser transaction fees and hence gives me a low cruise about bitcoin and its superiority in 2024.
Everything shocks in probability
This might be quite funny but honestly everything in crypto shocks. As in case of FTX, it took crypto enthusiast by suprise that FTX could ever drip so low.
I can remember vividly recall when the bible stated the first shall be the last and the last the first. However I likened the first to bitcoin and the last to alt coins as it seems the cryptoverse is a shocker.
In summary
For bitcoin to have a wider adoption over its reputation which may likely happen in few years to come if some consideration are been put in place especially on less gas fees and higher liquidity there should be consideration of cost of transaction.
Actually if an investors finds out to own a thousand dollar worth bitcoin will simly means he has to get more than a thousand dollar to be able to carryout the transaction to other exchanges will cost him or her $100 which makes the investment worth $900.
The individual would rather prefer to make a research, source for better altcoins with lower transaction fees and higher potential and invest in it. At the end of the day, the individual in question might make more profit which adds some value to the thousand dollar or if a bear run occurs, there will be no incurred losses lower than $900.
This calls for my concern as regards the superiority of bitcoin in the market, if it continues to offer high transaction fees and lower worth investors might not believe in it anymore because ever since bitcoin experienced the first bear market in this year, it has been struggling to climb to its apex and instead has been on a slow fall.
Thanks so much for reading, I wish you all a lovelyday.
