01 Jan

Bitcoin- The Last Strong Flickers Of A Dying Flame?

There are three parts that define the career phase of any person: Struggle, success and downfall. The entire mankind is bound by the shackles of the above three periods and they have become an indispensable part of their life.

It’s a known fact that it is a lot harder to sustain the top position than it is to get to it and nobody, be it human or a new product, is exempt from it. The period of struggle is long, hard and enduring with success waiting for those who sail through.

Finally, after a certain period, there is a downfall due to change of times with new replacing the old. Every new year becomes old and gives way for the new as this is the law of nature.

An excellent example regarding the same is the new digital currency revolution of the 21st century. The most popular part of this currency is the bitcoin, which quickly rose to prominence and became a top leader in the digital currency world, leaving its counterparts far behind and changed many lives for the better.

However, its downfall was as sudden and far more steep than its rise due to several reasons. It came to be viewed as a ponzi scheme along with the glaring loopholes in the security measures, making it vulnerable to external penetration.

Today, it is in ventilator mode, on autopilot with destiny doing the navigation. The bitcoin evolution today has a very bleak future to its name as the recent reports such as Bloomberg has seen fluctuating price swings in the past month.

Crypto-currency market is now fighting a losing battle with digital projects being leveled with accusations of cheat and fraud with the only respite being a change in landscape in the next 5 years.

So, it can be said that while bitcoin is down it is not out completely and putting up a good fight but with little chances of survival.