Modern Finance Chain (MFX) is aiming to design a digital economy which allows consumers to purchase goods and services using any cryptocurrency from merchants whilst both the consumer and the merchant are rewarded for transacting. They are creating a cost-effective cryptocurrency payment ecosystem which is designed to build value for all parties involved in merchant transactions. In addition to the payment system solution, MF Chains greater vision is creating the MF Mainnet which is an independent blockchain platform that uses a BFT/POS hybrid consensus method. It allows for the development of enterprise level private blockchains, Multi-language smart contracts, atomic swap cross-chain transactions, multi-blockchain integration and a verified digital identity system. It will also offer a prebuilt smart contract library, a multi-currency ICO platform to allow projects accept any number of currencies for the token generation event along with an innovation incubator bringing ideas to life.
Craig Neil – CEO – Entrepreneur for 20 years + with a background in Software Development, fintech and blockchain. Multiple start ups including Co founder of Aphelion Token (APH), ThisRoof Real-estate Platform and more. Worked as managing director and CTO in multiple companies.
Jason Rellis – President – Early stage ICO investor/Strategist. Partner in Komorebi Alliance creating utility functions and services for over 10 ICO’s. Experience as head of multi-channel sales operations, regional operation and community management.
Naviin Kapoor – Head of Blockchain Integration Asia & Middle East – Over 12 years experience in project management and business analysis. Worked as team lead for Abu Dhabi Commercial bank, Senior Software Consultant. Consulting advisor of many ICO projects. Degree in Computer Science & Engineering. MBA – Project Management.
Roy Hinkis – Head of Marketing – Over 12 years SEO and digital marketing experience. SEO and Growth Advisor for Walmart, SimilarWeb, Lyft, Trip and more.
Sergio Andronik – Project Manager
Viacheslav Shybaiev – Blockchain Lead – Advisor and blockchain solutions Architect for Opet Foundation. Worked as Technical Advisor, project and product manager throughout Opera Software, Status.im and more. Background in Computer Science and Management/Strategy.
Benamara Oualid – Mathematician and Cryptographer
Dr. Piers Lawrence – Applied Mathematician
Kat Campise – Data Scientist
Jack Lloyd – Cryptocurrency and Security Expert –
Nick Ivanov – Python and Cryptographer Developer
Sofia Shybaieva Software Quality Assurance
Brian Rankin – VP of Banking Integration (Senior Advisor) – Notably Vice President of Client Services for Ripple in 2015/16. Background in Science and Business. Many senior roles of Director CTO, Senior Engineering Manager for multiple Fintech companies. Director of Partner Solution for SigFig Digital wealth advisory platform.
Ankita Sambyal – Legal Advisor
Bogdan Fiedur – Blockchain Expert Advisor – Top 10 Expert ICO advisors, Blockchain Architect for Bitcare, Advsor to Postia, Cryptolancer, Lucre + more. US blockchain Association Advisor.
Hristo Piyankov – Blockchain Analytic advisor
The Tech Team is broad and has depth. From the IT side to developers and cryptographers it has the full scope of what seems necessary to develop such a project. We like to see blockchain experience in projects and this team has a mix of different blockchain/ICO members.
There seems to be good depth and capacity to excel in building of the technology with the only negatives we don’t really like is the fact that certain workers are still working at other jobs in significant roles which leads to the thought that not full effort and attention is on MFChain along with the head Blockchain leads seems to have more experience in project management rather than product management.
The roles for the management and team are a bit ill defined. Looking at the management and business side of things there is a large Experience in start-ups and Project management however this aspect of the team seems to lack depth. There is only one marketing Team member listed along with not a whole lot of experience in gaining adoption of the technology leading to a potential struggle of execution and adoption. It would be nice to see an addition of a few more marketing members, Advisors who are business based and more experience regarding Amex, PayPal – real world payment methods. The addition or Ripples Client Services VP is a good start!
Overall the tech team looks strong for developing the project however it seems they may struggle with execution due to the lack of defined positions along with limited growth experience.
The Project is based in St. Kitts and Nevis which is a Cryptocurrency hotspot, has a thriving cryptocurrency community and governments possess a positive outlook on the future of Cryptocurrency/Blockchain.
The MF Chain Payment solution is solving mainly the fees and numerous merchant risks and complications associated with credit cards that result in those costs being passed on to the customer such as 1.5%-3% fees per transaction not including any payment gateway or credit card processing fees, Charge backs and fraud.
A much larger problem they are solving for is the isolated and segmented blockchain space. Projects launching do not have an easy method to run a live token generation event that accepts multiple cryptocurrencies. They are trying to solve this and provide a rewards program for both merchants and consumers.
In addition to the solution to the merchant systems and token generation events MF Chain is implementing a project Incubator to bring ideas to life!
Market and Competition:
The global payment market is expected to be a $1 Trillion market by 2019. With a growing consumer preference for digital payment systems and use of mobile devices to pay for goods and services along with E-Commerce sales increasing rapidly – there is a large market to compete for.
The competition within the cryptocurrency space is quite large. Direct competitors include Utrust, Dash and PundiX. In comparison to their compeittiors MFChain have an independent blockchain, smart contract platform, ICO platform, Incentivised Masternodes, Multi-Blockchain integration, Multi Currency payments. Consumer and Merchant Rewards differentiating factors. MF Chain pays merchants for accepting cryptocurrency and rewards consumers for making purchases with MFX tokens. Coinbase, Bitpay and others dominate the cryptocurrency payment market however with such a large market share there is room for competition.
Outside of cryptocurrency there is major competition. The obvious competitors being Visa, MasterCard, AmEx, PayPal, Apple Pay. The differentiating factors between the blockchain based solutions and current payment methods mainly stem down to the high transaction and processing fees, Chargebacks and fraud/lack of security.
This industry is highly regulated by governments and monopolized by banks and current payment solutions such as PayPal, Amex etc. The compliance and legal strategy must be stringent and constantly changing to meet the requirements. The ICO timing during bearish trend is problematic for such projects with the main aim adoption and usage of the platform which has stiffened in recent the recent lack of confidence and volatility. The gaining of trust of people to utilize cryptocurrency as a method of payment both consumers and merchants will be the largest hurdle for the project along with the maturity of cryptocurrency to reduce the volatility of cryptocurrency and its impact on the effectiveness in merchant payment systems.
The Technical Whitepaper for the MF Mainnet is to be released Q42018. The current Whitepaper is accessible and easy to read. It is Structured, explains the Project, Technology, competition, alternative solutions, market statistics. However, it does not really provide solutions or explain the blockchain technology and how it will all be built in depth obviously the tech whitepaper will include these details. You can read the whitepaper here.
Partners include Shapeshift, DDEX, Identity Mind, Tokensuite, Chosen Payments, Ingot Coin, Loopring, Komorebi Alliance, EduHash and more. MF Chain has recently entered the Global Rewards and loyalty industry through partnership with Zagg Protocol in which they will penetrate the over 2.5m users of Zaggle. They have also partnered with Credits which can also lead to the greater reach of the MF Chain platform and increase the likelyhood of expansion. The parent company Mammoth project LTD will be taking role within MFchain leading all business and operational tasks within.
The project is in a very cryptocurrency friendly location which is a good backbone to any project. The Idea seems quite broad, not specializing on one thing which makes it difficult to manage. However, the Idea is promising and is solving a real world problem allowing for many cryptocurrencies to be used in token generation events along with the rewards to both consumers and merchants reducing costs associated.
There is a very large target market to obtain market share however with this comes great competition both in and outside of cryptocurrency. MF Chain seems to have the differentiating factors against PundiX, Utrust and Dash to make it stand out along with aiming to reduce transaction cost and time for merchants and customers to the current real-world solutions. With both the payment system, the ICO platform and incubator it has a large market share opportunity.
Considering the project has been around for a while and the ICO was delayed – it is a shame the Whitepaper for the MF Mainnet has not been posted and this impacts the project greatly as currently a lot of what is said just ideas and the implementation and technology underlying the business have not been proven. the Whitepaper States the challenges clearly however lacks any solutions to these issues. They would have much higher success with the launch prior or inline with the ICO not after the expected funding.
With trying to become a mainstream payment system, there will be AML and other laws regarding the transaction of money which will put pressure on adoption and currently there is not any mention in the whitepaper regarding the issue or solutions/mitigations. To gain trust of the consumers and merchants will take lots of relationship management skills and the team needs to hire more on the ground business managers it seems to do so.
MF Chain seems like a very challenging project and not very easy to pass through regulation and compliance hurdles. With the team being very tech heavy and although what and how they intend to solve seems impressive, execution in terms of business is a whole other story and needs to be focused on. The addition of the recent partnership with Zagg and Credits is a step In the correct direction and we will monitor closely!
Use of Blockchain:
MF Chain is using blockchain to implement a merchants rewards program with now consumers and merchants earning rewards. They are utillising blockchain to make transactions cheaper along with allowing the use of many cryptocurrencies to be used as a payment from consumers or merchants receiving. The use of blockchain in the payment system and MF Mainnet should allow easy cross boarder transactions, no chargebacks and more which provide major competitive advantages over non blockchain solutions.
Initially launching as an ERC 20 token, Full features of the token on MF Mainnet include: privacy (ZK-Snarks), Masternodes, Multi-currency ICO Platform, Pre-built Smart Contract Library and multiple developer language support. With no Technical Whitepaper being released there is lack of detailed explanation of how the technology will be utilized and implemented more so currently just the idea.
There is an MVP released which is Hosted on the MF Chain Github with a downloadable APK for Android. The Design is simple and intuitive to use. After creating an account and being verified the merchants are able to begin processing payments and earn 1% crypto-back. It integrates supported cryptocurrency wallets via API which allows the merchant freedom of choice to how and where to send their cryptocurrency. There is plenty more to be added and updated often leading up to the full prototype release expected in Q2 2019.
There is no real mention of the technological utility of the token however we will assume it will be used in consensus and it should be release in next whitepaper for Mainnet
From a business perspective the MFX token will be integrated in commerce and used for the purchase/sale of goods and services for merchants and also fuel the MFX Rewards program. Long term value is gained not only from merchant integration, also from the Innovation Incubator with additional dApps and projects launching on the MF Mainnet. There has also been the introduction of Incentivized masternodes on the MF Mainnet in which the masternodes require 76,500 MFM which is equivalent to 9 ETH and is expected to have a ROI of 10-50%.
The Main Issue with incorporating cryptocurrency as a payment option is volatility. By the time the transaction is confirmed, fluctuations in cryptocurrency price means that its for the ‘wrong’ amount. Additionally cryptocurrency transaction fees and transaction processing time with the change in Cryptocurrency fees ranging such large amounts with BTC ranging from $35 average to $1 within 2 months. Transaction confirmation time is another unstable feature and to succeed there must be a stable valuation, quicker than traditional centralist payment systems, secure, reliable, low fees and incentives/rewards.
The mentioning of development of ‘enterprise level private blockchains, atomic swap cross-chain transactions, multi-blockchain integration, and a verified digital identity system’ is only talked about in the whitepaper and not backed by technical details on how these will be done. The technical whitepaper is imperative to learn more in regards to this.
Blockchain use to allow for the reward system, multi-use of cryptocurrency makes sense along with the use for ICO token generation and incubator. However the lack of explanation of the technology in how it will be used is a problem. Technical whitepaper expected soon for the MF Mainnet which should expand however not having this before or during the ICO is a negative.
The utility is mentioned briefly as discussed above however no mention in whitepaper of technological utility. The business utility is relevant and should lead to a demand for the token within the network. The MVP release was on time and the full Prototype expected earlier next year should be a better indicator of the technological progress of the project.
The Github seems to lack activity and there are lots of technology buzz words such as atomic swap, smart contracts, masternode, zk-snarks. No mention of how these things will be built.
Overall it is good to see the MVP released and functioning to show an example of the core product, along with the current use of Blockchain technology being a good fit. The lack of explanation at the crowd sale point is disappointing and currently the MVP itself is not enough to make it more than speculation as to what will be produced. The team is capable from a tech perspective so we are very excited to see how it ends up.
The Twitter account has 17.8k Followers and is Active with posting and announcements. The interaction and engagement is relatively low however. Reddit is also active along with community following and conversation seeming to be organic. The Bitcoin Talk community is active and helpful and the Facebook community has 10k+ following. Website is very simple, easy to navigate and informative. Access to whitepaper, Team, Roadmap, Social media accounts, News, Partners, FAQs and more readily accessible and there are over 10 languages available.
Medium Channel for MFChain is very active and detailed. There are Posts outline new partnerships, Presale and Crowdsale information, team additions and more. MF Chain has been rated on over 10 ICO sites including FindICO, ICObench. listed on ICObazaar, ICOAlert, ICOWatchlist and has multiple third party ratings in a positive light.
It has a news/reviews section on the website in which shows the numerous YouTube reviews from influential youtubers such as In It for the money and Crypto Spark. News posts on Forbes, MarketWatch, Yahoo Finance, CCN, Chicago Business journel and more.
The Telegram is at around 22k Members. Both community members and admin active and often helpful however lacks clarity and quite simple responses. Conversation mostly about when the ICO dates, announcements etc. Airdrop numbers initially skewed the Telegram group however we believe this issue has been resolved in a cutting of ‘fake’ members.
Market Hype and Sentiment:
The Telegram conversation is positive along with the ICO reviews from many sites having a very positive outlook with high ratings and comments. Market sentiment is confident and the Hype Score on ICO rating.com is very high. Abitgreedy.com rated hype 9.7/10 with MFChain having above average hype from its potential user community.
The search trends are relatively low and down lots since a few months ago however the sentiment and hype surrounding the project is still relatively high among retail community. The VC space seems to be quiet in regards to this project with no big names featured or not being a very popular project in and around the circles we are in.
The Social media has a relatively large following and is active across all social media which is impressive. The website we found was very nice to navigate and take in the information.
Medium is very active and in combination with the promising ICO reviews and YouTube reviews the sentiment surrounding MF Chain is quite confident and positive moving forward. MF Chain is Featured on many popular news sites and all this is accessible on website. Good to see and looks promising.
Although there is a large social media following and active members we do not neccesarily agree with the hype being crazy. It seems that MF Chain is going around however in the VC space it is not a hot topic it seems.
Fund Breakdown and Vesting Periods:
The Developer and Advisor Tokens will be unlocked on a slow rolling quarterly release ending in Q2 2019. The future development and marketing tokens will be locked in the following: 50% unlocked on a random date Q2 2019 and 50% unlocked on a random date Q2 2020.
ICO funds Breakdown:
All Unsold tokens will be burned. If Soft cap not achieved, refund on funds occurs.
1 ETH = 10,150. Bonus for volume purchase: 10% for 10 Eth 15% for 25 ETH 20% for 100 ETH +
MF Chain Have been on time in regards to their MVP releases however slightly off-time for the private and the Crowdsale was delayed by 2-3 months. The Exchange listings have also been delayed with the ICO ending in December.
The Roadmap has been delayed due to the ICO sale being postponed this includes the goals of the number of merchants using MF Chain along with the developement of the Protofype and exchange lisitings. The mentioning and targeting of the 250 – 5000 Merchants utilizing the platform is just stated with no real backing to it in the whitepaper.
It is good to see 57% of tokens for sale in decentralizing the platform. The Hardcap seems attainable currently due to the low price of ETH however prior to that drop the gap between the softcap and hardcap seemed a bit spread – prompting the question of how really necessary are the extra funds.
With the softcap already reached the demand is looking strong and should reach the hardcap of 33,000 ETH. The private bonus is fair and the volume base purchase incentive is a good opportunity for larger buyers to take advantage.
There is transparency in the usage of the funds although the team has already been accounted for in the 8% of tokens, the extra 5% in the ICO funds seems a bit much. The Marketing funds look very promising but the team is lacking marketing members to utilize and will need to expand.
Timeline looks promising, the MVP releae on time proves the team can deliver – Exchange listing will come soon after the ICO crowdsale and the 50%/50% budget split is promising. Softcap has already been reached. There could be issues on how the reward pool will last 5 years and become self sustaining.
X – Factor Bonus:
The recent partnerships with both Zagg and Credits along with the addition of the Ripple Bank associated will improve the awareness and penetration of MF Chain in the market. They are in a strong position to move forward and need to continue to add to the business team and their key partnerships.
Overall the project is taking on large competitors outside of cryptocurrency and within. The technical team is impressive however we really would have liked to see the full Protofype being released prior to the sale to showcase the technologies mentioned in the whitepaper.
The recent partnerships are promising for MF Chain along with the addition of team members often.
Although MF Chain has a large exposure, from Multiple news and YouTube reviews, it seems that the Hype should be larger than it currently is. With the ICO just beginning we may see this increase in the coming weeks.
The hardcap being 33,000 ETH with the currently $205 USD value puts the hardcap at a very attainable level for the project. The roadmap also is quite timely and in line with the ICO being completed however the whitepaper being released post ICO along with the full prototype is not ideal.
So overall a more than capable Technical team however a lack of business and marketing experience may impact adoption. The reward system created and the expected token generation with many cryptocurrencies are excitin however The lack of partnerships with merchants, no mention of how to solve the technological issues such as price volatility are not promising. I would wait for the next main net whitepaper in Q42018 before doing anymore on this project.
ALTCOIN BUZZ ICO REVIEW RATING:
This analysis was produced by The Altcoin Buzz ICO Research and Analysis Team. Members: Shashwat Gupta, Andrew Grapsas, Mohak Agarwal with the help of other members of the Altcoin Buzz Team and Community.
The information discussed in the Altcoin Buzz ICO review is not financial advice. The reviewers are crypto enthusiasts and not Financial Advisers. This information is for educational, informational and entertainment purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to information provided. The system and numbers indicated are our own ICO rating metric and may be updated and changed according to what we believe the current ICO market trend to be. It is not to be taken as investment advice, do your own due diligence and rating before making any investments and consult your financial advisor. The reviewer may have or wish to invest and have an interest in the project reviewed. The rating is only indicative of the rating during a certain time and may have changed over time without being updated. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pty Ltd. All rights reserved.
Bitcoin’s perfect combination of pseudonymity and decentralization has allowed it to survive the government
Bitcoin has been alive for more than 10 years now, and it gets stronger with each passing day. On the other hand, Facebook’s Libra, which is yet to be launched, is facing a lot of setbacks from the government. Coinbase’s ex-CTO, Balaji Srinivasan, compared Libra to Bitcoin and pointed out the differences that has allowed Bitcoin to thrive.
“When Satoshi launched Bitcoin he combined pseudonymity with decentralization. So neither the person nor the chain could be targeted. Libra might be able to become more decentralized, but it would be hard to not associate it with Facebook.”
Bitcoin is not anonymous, but pseudonymous because each user has addresses which aren’t linked to their original identity, thus making it pseudonymous. Users often use different addresses for every transaction to cover their tracks and to avoid being traced.
Srinivasan described Bitcoin’s pseudonymity as a “bridge” which allows one “to port over some (not all) of the attributes associated with a high reputation identity to a fresh pseudonym, while preserving statistical guarantees around anonymity.”
While there are many privacy-based cryptocurrencies focusing on anonymity and privacy, there are ways where one could be totally anonymous with Bitcoin using methods like CoinJoin, Wasabi etc.
Additionally, Srinivasan described this pseudonymous bridge as an “interface” between fiat identity and cryptocurrency identity, just like exchanges are an interface between fiat and crypto.
Comparing this with Facebook’s Libra, Srinivasan stated that Facebook will always be associated with Libra and the other way around. He added that it wouldn’t be able to achieve necessary decentralization because of this. He added,
“Libra might be able to become more decentralized, but it would be hard to not associate it with Facebook.”
A Twitter user, @Mrauchs, commented,
“How could the Libra network ever become more decentralised than Bitcoin if it relies on a permissioned validator set (i.e. identified actors) and a closed governance model?”
Bitcoin Bounce Capped by $10K Price Resistance
- Bitcoin’s recovery from $9,049 to $10,000 lacks substance and may be short lived.
- Signs of bullish exhaustion near $10,000 have emerged on the 4-hour chart. A break below $9,580 would confirm the corrective bounce has ended and allow a drop to $9,000.
- Moving average (MA) studies and key indicators like the relative strength and the Chaikin money flow indices on the daily chart continue to call a bearish move.
- A high-volume break above $10,000 could yield a move to $10,400, but a 4-hour close above $11,080 is needed to invalidate the short-term bearish setup.
Bitcoin’s recovery from one-month lows looks to have stalled near $10,000 and the cryptocurrency may end up charting a bearish lower high around the psychological resistance level.
The top cryptocurrency by market value slipped to $9,049 in the European trading hours yesterday, the lowest level since June 19, according to Bitstamp data. That drop came after the bullish higher-lows pattern was invalidated with a move below $9,614 on Tuesday.
The drop was short-lived, as expected, though. Prices bounced up in the U.S. trading hours, keeping the former resistance-turned-support of the $9,097 May 30 high intact.
The recovery, however, looks to have run out of steam, and BTC has spent a better part of the last 13 hours struggling to settle above $10,000.
A persistent failure to convincingly beat $10,000 means the market is no longer viewing sub-$10,000 levels as an opportunity to get involved in the bull market the way it did on July 2, when prices charted a V-shaped recovery from $9,614 to $11,000.
Further, technical charts indicate the bounce seen in the last 24 hours lacks volume support. So, the odds appear stacked in favor of the creation of a bearish lower high at $10,000 and a fall back to $9,000 in the next day or two.
As of writing, BTC is changing hands at $9,850 on Bitstamp, representing 3.5 percent gains on the day.
Buying volumes (green bars) on the hourly chart have been very low throughout the price bounce from $9,049 to today’s high of $10,027.
A low-volume recovery often ends up as a “dead cat bounce” – a short-lived recovery after a notable price drop – meaning BTC will likely fall back to $9,000.
Sell volumes (red bars) have been consistently higher than buying volumes ever since BTC topped out at $13,200 on July 10 – a sign of change in market sentiment.
4-hour and daily chart
Multiple candles with long upper wicks (above left) near $10,000 indicate BTC’s recovery has run out of steam near $10,000. A break below $9,580 – the low of the doji candle created in the Asian trading hours – would confirm a bearish lower high at $10,000 and allow a drop to $9,000.
The bearish view would be invalidated only if prices invalidate the lower-highs pattern with a high-volume move above $11,080.
That, however, looks unlikely as the daily chart is biased bearish. The 5- and 10-day moving averages are trending south, indicating a bearish setup. The 5- and 50-day MAs are teasing a bearish crossover.
The Chaikin money flow index is now barely holding in positive territory compared to highs above 0.35 seen at the end of June. That indicates a significant weakening of buying pressure.
Further, the relative strength index is reporting bearish conditions with a below-50 print.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
5 Best Reasons to Invest in Bitcoin Today
The digital media has taken giant leaps in the delivery of information, communication, and technology in the past few years. This has also made way for the digital currencies to take the center-stage amid the rise of e-commerce and digital banking/financing products.
There are more than 2,300 cryptocurrencies in the global market, but Bitcoin has already become the industry leader. Almost a decade ago, Bitcoin was created by a person(s) named Satoshi Nakamoto (pseudonym).
Bitcoin is the hottest cryptocurrency in the world and is the most lucrative product in the finance and investments sectors. However, one can’t disassociate the element of unpredictability from the cryptocurrencies market. It can make a sudden spike in a minute but can nosedive the very next minute. This unpredictability has left many to think why not or why invest in Bitcoin?
- Consistent Rise in Acceptance of Bitcoin
There are several cryptocurrencies in the market but Bitcoin is the first and the most successful of them. The Bitcoin blockchain technology has been growing consistently which has helped its global adaptation rate remarkably. Due to this reason, Bitcoin has managed to build its credibility in the market.
- Better Regulations
The anomalous rise in the demand of cryptocurrencies gave birth to the introduction of proper regulations. Defined regulations reduced the element of uncertainty and provided a significant boost to the coin investment and its prices. Similarly, Bitcoin regulations helped tackle various associated scams, which, in return, added to the investors’ confidence.
- Wall Street to Launch Crypto
Wall Street announced last year to launch cryptocurrency trading offerings for investors in 2019. This would be more efficient for many businesses because the number of crypto hedge funds had reportedly increased in 2018.
The custody and Bitcoin trading platform will be finally introduced in 2019 and it will be known as Bakkt. The Commodity Futures Trading Commission (CFTC) has said that Bakkt is still in its preview stage. Once Bakkt is introduced, Bitcoin will be at a different height altogether which will give other cryptocurrencies a good run for their money.
- Developers Enhancing Bitcoin Scalability
Due to its volatile nature, Bitcoin has made developers to boost its security and develop a more enhanced network. In the past, many other cryptocurrencies faced reliability issues. The introduction of the lightning network and Bitcoin Cash (BCH) was one of the major breakthroughs, and it facilitated better transactional and reliability features.
- Bitcoin Always Ready to Scale New Highs
In 2017, Bitcoin reached its historic peak of approximately $19,500. Eventually, it led to the inevitable price correction. In the past two years, the Bitcoin price has dropped appreciably but it is always estimated to achieve new highs in the coming times.
It is a good time to invest in Bitcoin now especially when the sentiments are negative and the chips are down. In the words of leading capital markets investor Warren Buffett, who stated that as an investor, it is wise to be “Fearful when others are greedy and greedy when others are fearful.”