What Does Bitcoin Make (Does Bitcoin Really Make Money)?
What does Bitcoin make? According to reports, the price of Bitcoin has increased
What does Bitcoin make? According to reports, the price of Bitcoin has increased by over 300% in the past two months. With the continuous expansion of Bitcoin’s market capitalization and more and more listed companies entering this market, its total value has exceeded one trillion US dollars. According to data from CoinMarketCap, the current trading price of Bitcoin is about $47,000, which is almost twice as much as the historical high in mid-November 2016, reaching $50,000. In addition, the price of BTC has been falling this year, with a decline of up to 20%.
So, what does Bitcoin make for investors? We can understand from the following aspects:
1. The profitability of investment in the cryptocurrency market is obvious: the entry of institutional funds into the cryptocurrency field has led to a continuous surge in the price of Bitcoin.
2. Ethereum’s profitability is stable: Ethereum has significantly reduced on-chain fees and reduced miner rewards, which has greatly improved its advantages.
3. Significant returns can be obtained through mining Bitcoin (generating more coins), and it can effectively solve the problem of excessive generation of certain coins.
4. The cost of Bitcoin mining is relatively low: If there is no specialized software for Bitcoin mining machines, the price of mining machines will fluctuate greatly over time, and the power consumption is relatively high, which is a good thing for the mining industry.
Does Bitcoin Really Make Money?
According to bitcoin.com, Bitcoin is currently in a “bull market” phase. Since early April this year, the price of Bitcoin has risen by over 200%. According to data from BitMEXResearch, the average transaction cost of Bitcoin from January to October 2019 was about $3. If calculated at this rate, the price of BTC may rise to over $3000 or even higher for most of 2019. Therefore, investors should be cautious when investing in this type of asset if they want to make money after holding Bitcoin for a year.
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