One of the most prominent members of the cryptocurrency community has faith in Bitcoin saying that it hasn’t bottomed out in value.
The real estate investor and developer, Ann Kristin Iversen has said that believes that the currencies real-world use cases let it be better at holding back the volatility of the changing market speculation.
In just 12 months Bitcoin’s value has gone from $9,500 to under $4,000 after it touched $20,000 in January.
Last year Bitcoin Cash split from Bitcoin but now the battle over the future of Bitcoin Cash has seen the market being hit hard in the recent weeks. The fourth biggest digital currency in the space basically separated into two different currencies when two software development teams failed to agree on the most appropriate way to update its code.
“I think Bitcoin is in trouble – and I don’t think we have seen the bottom yet. Seeing how the egos of a few men can practically tank the market is frightening! In my opinion, BTC’s claim to complete decentralisation is a myth… and the [environmental] cost of its POW on the environment and the large mining pools located in China is troublesome.”
If we take a look at XRP, the token was worth 24 cents 12 months ago and during this month it reached highs of 50 cents and above which means it’s doubled in value in 12 months. That being said, the markets are in red at the time of writing leaving XRP to be priced at 34 cents.
In January, XRP reached an all-time high of three and a half dollars before it retreated back as the crypto bubble burst.
Speaking on the matter, Iversen said:
“XRP is faster and cheaper than other mainstream cryptos – and it has real-world use-cases. As the current market is showing us, pure speculation is not enough. “One of the key elements of Ripple’s success is the fact that they are focused on one main use-case: cross-border payments for financial institutions and banks. That has allowed them to build a product that is a vast improvement on the current system.”
Iversen continued to say.
“Where other cryptos are shunning banks, these are the customer base for Ripple. RippleNet is now connecting major banks around the world and they are signing up new partners every week. When it comes to crypto, adoption is what gives value. It will take time – but due to great timing, they are already way ahead of the others.”
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