{"id":16671,"date":"2017-03-17T00:00:00","date_gmt":"2017-03-16T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2017\/03\/17\/why-dash-ethereum-monero-will-continue-to-strengthen-bitcoin-price\/"},"modified":"2021-09-18T11:40:01","modified_gmt":"2021-09-18T11:40:01","slug":"whydash-3","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/whydash-3\/","title":{"rendered":"Why Dash, Ethereum, Monero Will Continue To Strengthen Bitcoin Price"},"content":{"rendered":"

There is hardly a way the Bitcoin price won\u2019t maintain its current spot or continue on a rising trend with the prices of several alternative digital currencies<\/a> starting to reflect their respective networks\u2019 gains as they establish in chosen areas of usefulness.<\/p>\n

A quick look at how Dash, Ethereum, Monero<\/a> and maybe Augur, have performed with their prices in the last few days show that despite the attention that has shifted to these altcoins, Bitcoin\u2019s standing does not seem to be affected at all. Rather, it maintains a strong grasp of the market and continues with its back and forth movement over or around the $1200 price range<\/a>.<\/p>\n

The altcoins\u2019 rising prices<\/a> could not go unnoticed by serious-minded investors who may be exhibiting a practical foresight into what the future could hold for the financial sector \u2013 or how cryptocurrencies could help simplify the sector\u2019s coordination in time.<\/p>\n

A new economy
\nThe influence Bitcoin wields over other alternative currencies \u2013 probably for its early adoption advantage or other technical reasons that I am not qualified or able to explain now \u2013 is enough to sustain its backbone role into the distant future even as its supply gets thinner while the awareness of its use spreads wider. From the Philippines to, let\u2019s say, India and back to Russia and Mexico, the struggle to lay hands on a fraction of Bitcoin continues.<\/p>\n

However, the intensifying scramble for bits of Bitcoin considering the rising price of acquiring a full coin is, in a sense, a major factor pushing many to look into the new economy<\/a> that the totality of cryptocurrencies is creating.<\/p>\n

Many are now inching towards altcoins instead of a full Bitcoin to be a part of the new economy that is devoid of any form of restrictions and dependence on the status quo but rather afloat in a new world that has little to do with the financial arrangements we\u2019ve known for years.<\/p>\n

Future outlook
\nStill looking away from traditional markets like the US, Europe and China which are still the largest in my view but just that the others have started squeezing out their share, a Nigerian asked me recently if I think the most populous black nation is ready for the \u2018Bitcoin craze\u2019. I replied that it isn\u2019t yet. I still stand on that view.<\/p>\n

With a population of about 200 mln people, about a tenth of Nigerians \u2013 or even less \u2013 can claim all the Bitcoins in existence from a practical view.<\/p>\n

However, it isn\u2019t about the money or the lack of a risk appetite to invest a huge amount into the digital currency because the country could boast of some of the most shrewd business owners the continent of Africa has ever produced. It also has a huge young population that is willing and ready to take on the world at several levels. Rather, what has been stopping them is the information gap or a lack of the good understanding of what Bitcoin is doing or could do.<\/p>\n

The same applies to people in Ghana, Kenya, South Africa or even Rwanda where tech-savvy individuals are being developed at a faster pace in Africa. Put another way, a fraction of people in one or a combination of two or three of these countries have what it takes to achieve what is being suggested of Nigerians in terms of Bitcoin acquisition but for a similar hindering factor.<\/p>\n

What to expect
\nAddressing this key factor will see the Bitcoin adoption level jump drastically among the Internet penetrated populace especially in developing countries like those in Africa. It could also lead to postulating that Bitcoin may not necessarily depend on the soon-to-be launched new use cases to be stronger or pricier.<\/p>\n

As its high price and risk level have made it grow out of the league of favorite currencies<\/a> for day traders, no new use case for Bitcoin by tomorrow does not translate that the most popular digital currency as at this writing is ever going to be irrelevant.<\/p>\n

All it needs is the resolution of core issues such as its scalability to be sorted out once and for all.<\/p>\n

https:\/\/cointelegraph.com\/news\/why-dash-ethereum-monero-will-continue-to-strengthen-bitcoin-price<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There is hardly a way the Bitcoin price won\u2019t maintain its current spot or continue on a rising trend with the prices of several alternative digital currencies<\/a> starting to reflect their respective networks\u2019 gains as they establish in chosen areas of usefulness.<\/p>\r\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[216],"tags":[],"acf":[],"yoast_head":"\nWhy Dash, Ethereum, Monero Will Continue To Strengthen Bitcoin Price - Dash<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dash.org\/news\/whydash-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Dash, Ethereum, Monero Will Continue To Strengthen Bitcoin Price - 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