There is no denying the fact that bitcoin has been flying high as of late. The recent price surge that it had took the crypto world by storm and was quite surprising. The reason why a large number of people thought this surge was surprising that no one knew bitcoin would break its own records and reach new heights in such a short period.
However, crazier things have happened in the crypto scene and it would be fair to say that they will not stop here. With bitcoin riding sky high, many people wonder if other crypto options even stand a change.
If one decides to take a close look at the history of bitcoin and its track record, it would be easy to see that this crypto coin has been fairly consistent through the decades. Sure, there have been moments of volatility and vulnerability, but these issues are prevalent in other crypto options as well.
What makes bitcoin truly special is the fact that it is the first ever crypto to exist and has been offering high returns even during times when it is down. It is one of the reasons why people still continue to make investments in this crypto.
After the crypto boom ended, a large number of people thought that it was essentially the end for bitcoin. However, that could not be any further from the truth. Sure, the prices of bitcoin went down and it was not as profitable as before, but people still made great returns out of it.
That said, plenty of other crypto investment options came to the forefront as well. Coins like ethereum, litecoin, dogecoin, ripple and many more were available for people to invest in. What’s more, these crypto options were also quite profitable.
Believe it or not, there were even occasions where these currencies offered even greater returns than bitcoin, which proved to be a massive surprise to the crypto community. Some of the crypto community members even started to think that it was the beginning of the end for bitcoin.
One of the reasons why they thought this was because the prices of bitcoin went down and other crypto options became quite profitable. Due to this, more people started investing in other coins and did not give bitcoin as much attention as they previously did.
Despite people predicting that bitcoin would eventually lose its throne, it never became true. Sure, the profitability of bitcoin went down for a fair bit of time but it came back strong and its profits reached at an all time high. Because of this, a large number of people believe that bitcoin may stay on top for a long time to come.