Having studied the entire history of the evolution of Bitcoin and other cryptocurrencies, experts have identified a number of advantages of the first crypto currency.
Bitcoin is recognizable all over the world
Bitcoin is a pioneer that recognizes only universal democracy, decentralization, and consensus. Its author, who made the source code available to absolutely everyone, probably set different goals for himself. First of all, it is the search for a significant number of allies in the struggle for survival. There is a springboard for the offensive; it was prepared by the author of the first cryptocurrency himself, but even those altcoins that have achieved some success are not even close to the main digital currency.
Many of the newcomers begin to get acquainted with digital assets with Bitcoin. He has become a kind of symbol of the world of cryptocurrencies, a recruiter who attracts new users to the huge crypto community.
Stock quotes are constantly growing
The press and the Internet write about the growth of this cryptocurrency. At the beginning of its existence, the value of the first digital asset was minuscule: 1 000 BTC was sold for $1. In addition, even prominent scientists and economists did not notice in time how this financial phenomenon appeared.
The graph showing Bitcoin's growth is a zigzag curve with a tendency: the points of decline and growth are moving further and further away from the center.
The capitalization of bitcoin is increasing
In 2017, the global capitalization of Bitcoin increased at a record pace, and the determined members of the crypto community did not expect such indicators. The digital currency started to cost over $325 billion. Knowing the rate at which this cryptocurrency is growing, experts refuse to consider this value as the limit. They predict that prices will continue to increase in the future. After analyzing the main market trends, scientists have identified many factors favorable to this process.
High index
Bitcoin is the undisputed leader of the cryptocurrency market (for example, the bitcoin dominance index). The indicator of its volatility is significant. There were periods of decline, but Bitcoin proved its own vitality every time.
Network effect
Otherwise, this effect is called Metcalfe's law: how valuable a digital asset is is determined not only by the number of holders, but also by the workload of the network through which money transfers take place. In the case of bitcoin, these indicators are increasing, which means that the value of the asset is also growing.