{"id":158691,"date":"2021-05-17T13:30:50","date_gmt":"2021-05-17T08:00:50","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=158691"},"modified":"2021-05-17T12:18:22","modified_gmt":"2021-05-17T06:48:22","slug":"the-next-bitcoin-can-only-be","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/the-next-bitcoin-can-only-be\/","title":{"rendered":"‘The next bitcoin’ can only be…"},"content":{"rendered":"

With blockchain technology getting upgraded and refined on a daily basis, not all coins and tokens can thrive and sustain themselves in this competitive environment. Only a few of them would be able to be resilient and shield themselves, while the rest of them would eventually cease to exist.<\/p>\n

In a recent appearance<\/a> on CNN’s Squawk Box, CEO of Insider, Henry Blodget puts forward his perspective on the future of blockchain technology. He said,<\/p>\n

\u201cThere are good fundamental reasons why we may have cryptocurrency and blockchain in the future… but that doesn\u2019t mean dozens of cryptocurrencies are going to do well forever.\u201d<\/p><\/blockquote>\n

Blodget further stated that the price of the not-so-big cryptos would not go up forever. At the same time, he also pointed out his concerns with respect to the flagship cryptocurrency and said,<\/p>\n

\u201cI think with Bitcoin, the big issue is that everyone understands that it is actually not well designed as a transaction currency. It is very resource-intensive.\u201d<\/p><\/blockquote>\n

He further contended that the cryptoverse would end up inclining itself to a much more better-designed cryptocurrency.\u00a0<\/span><\/p>\n

Others from the industry, however, stated the contrary. Co-founder of Twitter, Jack Dorsey recently took Twitter to state<\/a>,<\/p>\n

\u201cBitcoin changes everything for the better and we will forever work to make Bitcoin better.\u201d<\/p><\/blockquote>\n

Underlining the fact that more than $18 billion of Bitcoin transaction volume was executed on-chain in the past day, Anthony Pompliano exclaimed<\/a>,<\/p>\n

\u201cBitcoin is inevitable.\u201d<\/p><\/blockquote>\n

CEO of MicroStrategy, Michael Saylor, also recently\u00a0asserted<\/a> that Bitcoin would eventually rise to a million, despite the short-term setbacks it faces. He further said,\u00a0<\/span><\/p>\n

“Bitcoin is something that you hold for a decade or decades… If you bought Bitcoin, you could lose money in a year or two or three, but over the course of four years, nobody ever lost money in Bitcoin. That\u2019s the story with most of the dominant networks.”<\/p><\/blockquote>\n

\"\"<\/a>
Source: Glassnode<\/figcaption><\/figure>\n

However, it should be noted that Bitcoin’s market dominance<\/a> has been dropping since March. Additionally, with altcoins currently holding the baton, the number of addresses holding more than one Bitcoin reached a 7-month low<\/a> of 812,286. What’s more, Bitcoin\u2019s trading volume<\/a> has also been evidently fluctuating over the past month.<\/p>\n

Nonetheless, Danny Scott, CEO of CoinCorner went on to hypothesize<\/a> on the ‘next bitcoin’. He stated:<\/p>\n

\u201cThe next Bitcoin is Bitcoin.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

With blockchain technology getting upgraded and refined on a daily basis, not all coins and tokens can thrive and sustain themselves in this competitive environment. Only a few of them would be able to be resilient and shield themselves, while the rest of them would eventually cease to exist. In a recent appearance on CNN’sContinue reading “‘The next bitcoin’ can only be…”<\/span><\/a><\/p>\n","protected":false},"author":41,"featured_media":158693,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,41,35,360,66,3,4,12,20],"tags":[],"class_list":["post-158691","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-analysis","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-technology","category-trading-view"],"acf":[],"yoast_head":"\n'The next bitcoin' can only be... - AMBCrypto<\/title>\n<meta name=\"description\" content=\"With blockchain technology getting upgraded and refined on a daily basis, not all coins and tokens can thrive and sustain themselves in this competitive\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/the-next-bitcoin-can-only-be\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"'The next bitcoin' can only be... - 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