The slow return of the Bitcoin cryptocurrency is keeping us all on our toes.
Bitcoin isn’t done yet. While many of us assumed that the 2020 crash would kill it off, once and for all, this is far from the truth. Instead, the world’s leading cryptocurrency has been slowly returning to former strengths to the point where, at the time of writing, it was worth some £33,520 per token.
Bitcoin mining aficionados PEGA Mining believe that the slow growth of Bitcoin will inevitably prompt a leap in value, sometime in the coming months. If the Coronavirus doesn’t get any worse, we could be seeing a steady build-up to something wonderful.
Let’s talk about Bitcoin and how it is getting back on its proverbial feet.
Outlining the Competition
What does this mean for the other contenders? Ethereum seems to be doing well, holding its own at £2,534.22 per token. This is a significant improvement over the previous few years and it is a lot more stable than Bitcoin has been in the past.
A third contender for the title of most popular cryptocurrency is Litecoin. This one is worth even less now, making an opportunity for those that want to trade. One Litecoin is currently worth £132.47, but we expect it to keep growing, albeit one penny at a time.
To the outsider, the cryptocurrency everyone thought was a joke, and we can now talk about Dogecoin. Arguably the most millennial of any coin, this meager token is only worth a little over 26 cents per coin. Compared to about three months ago, this is growth that is in the thousands of percentiles. If it carries on at that rate, it will be the next big thing.
Why Are Companies So Devoted to Bitcoin?
Many firms are loyalists to the Bitcoin movement and are convinced that the game’s not up yet. When the bottom fell out of the market in 2020, prices plummeted in two days. A lot of people lost a lot of money… and it didn’t get better overnight, either. Those that suddenly found themselves in rags have shuffled out of the cryptocurrency game, but companies are swiftly pulling in new blood.
How Bitcoin Hosting Works?
If you have an interest in Bitcoin mining, then Bitcoin hosting firms could have a neat package just for you. They can offer clients three options. You can choose to host on your computer, thereby earning coins over time. You can choose to buy miners so that they will work on your behalf, or you can buy the power needed to run your operation.
This way, firms offer a solution for bitcoin mining across every skill level and price point. They also use only renewable energy sources, which puts them ahead of the market curve and firmly in the good favour of the environmentalists.
Keep an eye on Bitcoin if you do get involved at this stage of the game. Frankly, nobody knows what it is going to do next.