What Bitcoin’s New Price Trend Means for the Ecosystem

Journalist:
May 25, 2017

As Bill Gates indicated some time ago, Bitcoin is indeed unstoppable! The trailblazer of digital currencies has hit yet another all-time high price. At 16:00 GMT+2 on Wednesday, CoinMarketCap listed it for $2667. Its Market Cap is  $43 Billion at the time of filing this report on Thursday morning.

It appears Satoshi Nakamoto’s brainchild is not yet done and will continue to thread uncharted paths. This is good news for the global family and CryptoCoinNews is cocksure there are celebrations going on around the world.

However, what does the new frontier we have found ourselves means? CryptoCoinsNews decided to find out from experts and community members what the new price threshold means for the Ecosystem.

What Is In It

Abhishek Bhandari of Asia Digital Coin thinks it was supposed to happen but he is still sceptical about the scalability issue. He indicates:

“The scalability issue is making people turn to Altcoins. I am sensing a collapse too, the bitcoin community will split into two. There would be Hard Fork at some point for sure.”

James M. Ray, a Crypto enthusiast is convinced Bitcoin can survive high fees since some fee is needed, but it can’t survive the delays. “The delays are a millstone that can deter many people from using Bitcoin” he firmly stated.

For Greg Matthews of Goldcoin, it is an exciting time as he owns several Bitcoin. He agreed it is going to help bitcoin into the new cycle which brings more exposure to all things cryptocurrency related.

“I think we could see a pull back, and make a big one,” Greg said. “But over the long term, we should move higher, maybe a big one.”

On the part of the Editor of Dash Force News/Head of Business adoption, Joel Valenzuela, Interest in the industry is reaching the mainstream. He steers out that It’s not Bitcoin, but actually, the blockchain.

Joel also concurs it is good for the Crypto space and eventually, though, users will get tired of the experience. “Bitcoin is the “gateway drug” to better coins,” he declared.

At the moment, it is all merrymaking for the global family of Cryptocurrencies.

Sunrise image from Shutterstock.