Bitcoin's recent rally amid the turbulence in banking has led to a positive outlook for the cryptocurrency, with its supporters touting its purpose as a trustless system. The surge in Bitcoin's price to above $28,000 this week has also been attributed to its function as a digital-gold safe haven.
While most the predictions are optimistic, they do highlight the growing interest and confidence in Bitcoin as an investment asset. Investment firm Goldman Sachs has revealed that Bitcoin has outperformed many traditional investment assets, gaining 51% in year-to-date absolute returns. This marks a significant change from just a few years ago when many financial institutions dismissed Bitcoin as a speculative bubble.
Of course, there are always risks and uncertainties in any investment, and cryptocurrencies are no exception. But for now, it seems that the sentiment around Bitcoin and the crypto market is bullish, with the Crypto Fear and Greed Index reflecting a high level of greed among investors. Will Bitcoin continue its upward trajectory and reach the ambitious price targets set by analysts? Only time will tell, but for now, it’s certainly an exciting time for Bitcoin investors.
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While blockchain can do more than buying and selling, almost all other use cases can be solved by existing technologies, and primarily exist to serve and take advantage of the blockchain's transactional nature.
Network & Code
We are a veteran in blockchain infrastructure research and engineering. By committing to the "open source everything" model, we continue to design and build trustworthy protocols and products serving millions of users, covering all aspects of the blockchain ecosystem and servicing the digital world of tomorrow.
|Open-source public blockchain ecosystem based on the PoW consensus mechanism||Researched and prototyped Sharding and the Casper consensus protocol||Layer 2 framework designed for applications requiring high throughput such as gaming or social network.|
|World's largest Ethereum mining pool until shutting down in September 2021||Open-source kernel infrastructure for enterprise-level blockchain||World's first open-source trading platform for digital assets|
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