Successes and failures of bitcoin: an overview of the cryptocurrency market

Bitcoin broke its own record for the number of addresses on the network: 28.39 million instead of 28.38 million in January 2018. However, the real number of users differs, because some can store savings on several wallets, while others hold coins on exchanges and funds of a group of users can be on one wallet.

In China, Bitcoin entered the top 10 cryptocurrencies for the first time, moving from 11th to 9th. The title of the best cryptocurrency in China continues to hold the EOS coin. Ethereum overtook Tron and climbed to 2nd place thanks to the recent Istanbul hard fork. 

Despite all the success, billionaire Mark Cuban believes that bitcoin has no chance of becoming a reliable currency and explains why:

«Because it is too difficult to use, too easy to hack, too easy to lose, too difficult to understand, too difficult to evaluate».

In his opinion, the first cryptocurrency is suitable for use only as a reserve currency, like, for example, gold. It should be noted that Cuban's NBA Dallas Mavericks basketball club accepts payment in bitcoins.

It looks like someone is lying.

Anthony Pompliano remains optimistic and predicts Bitcoin growth even after the halving. The upcoming event could multiply the price of BTC, up to $100,000 by the end of 2021. Growth has already begun in a new two-year phase, but volatility remains up to 30%.

It will not be superfluous to recall the trajectory of Bitcoin in 2018. A Twitter analyst named James said that it strongly resembles his movement today. In the late spring of last year, Bitcoin entered a bearish phase, which led to a significant drop in the coin to $3,000. James fears that such a scenario may repeat itself, because the bottom has not yet been passed and the bearish trend may progress.