Permainan judi slot online terbaik

slot hoki terpercaya

  • About
  • Contact
  • Privacy Policy
  • bitcoinBitcoin$19,165.82-4.32%
  • ethereumEthereum$1,035.61-5.87%
  • xrpXRP$0.315782-2.84%
  • bitcoin cashBitcoin Cash$100.33-4.49%
Cryptovibes.com - Daily Cryptocurrency and FX News
  • Home
  • News
  • Analysis
  • Crypto
  • Autotrading
    • Bitcoin Robot Guide
    • Bitcoin Future
    • Bitcoin Millionaire Pro
    • Bitcoin Pro
    • Bitcoin Loophole
    • Bitcoin Up
    • Bitcoin Storm
    • Bitcoin SuperSplit
    • Bitcoin Supreme
    • Bitcoin System
    • Bitcoin Fortress
    • Immediate Edge
    • Bitcoin Profit
    • Bitcoin Trader
    • Bitcoin Bank
    • Bitcoin Union
    • BitQT
    • Bitcoin Prime
    • Profit Compass
    • Bitcoin Champion
    • Bitcoin Optimizer
    • PBN Invest
    • Quantum AI
    • Celebrities
      • Teeka Tiwari Investment plan
      • Kate Winslet Bitcoin
      • Holly Willoughby Bitcoin
      • Ant McPartlin Bitcoin
      • Nicole Kidman Bitcoin
      • James McAvoy Bitcoin
      • Jim Davidson Bitcoin
      • Peter Lim Bitcoin
      • Jonathan Ross Bitcoin
      • Bear Grylls Bitcoin
      • Phillip Schofield Bitcoin
      • Mike Hosking Bitcoin
      • Ryan Reynolds Bitcoin
      • Dick Smith Bitcoin
    • Broker Reviews
      • Herdos Review
      • FXTB Review
  • Disclaimer
  • PR
No Result
View All Result
Cryptovibes.com - Daily Cryptocurrency and FX News
No Result
View All Result

Bitcoin Is A Gateway To Altcoins, Coinbase Report Says

John Wanguba by John Wanguba
May 15, 2021
in Analysis, Blockchain, Crypto news
Reading Time: 4min read
Bitcoin acts as gateway to the altcoin world

Bitcoin (BTC), being the flagship cryptocurrency, seems to have become a significant determinant of different crypto market trends. If it drops, most of the crypto markets drop and vice versa. In that context, a Coinbase report suggests that BTC acts like a gateway down the altcoin world.

The Coinbase research discovered that while 60% of users buy BTC as their first crypto purchase, just 24% of investors maintain the Bitcoin faith.

Investors now seem more willing to consider the altcoins during bull runs. That was proven when Bitcoin’s market dominance dropped rapidly to below 30% on Coinbase during the Initial Coin Offering (ICO) craze and Ethereum (ETH) run in 2017.

For just a short time, Ethereum became the dominant asset traded on the platform; with almost 50% of the trading volume.

One commentator from Coinbase Corporate Development, Justin Martin, explained in Around The Block the sentiment that caused this behaviour:

“This could be for a variety of reasons, but one is largely psychological. As people feel good about their initial crypto investments (into Bitcoin), they branch out to find other possible categorical winners (as evident in the 2017 bull run).”

A Drug That Gives Constantly

Other analysts and commentators have noted that Bitcoin sometimes acted as a type of ‘gateway drug’ to other cryptos in the past. Nick Colas, a Bitcoin analyst, said in an interview with CNBC that the elevated enthusiasm during the 2017 bull run:

“has now morphed into a general craze… I think of Bitcoin as a kind of a gateway drug”.

While speaking on Bloomberg Markets in June 2019, Messari Inc co-founder and CEO Ryan Selkis said that Facebook’s Libra project could also act as a ‘gateway drug’ for the cryptocurrency investors and it might probably lead them to Bitcoin.

Bitcoin Still Dreams To Become Digital Gold

As the bear market takes a toll on the economy amid times of fear; investors turn to Bitcoin as the ‘blue-chip asset of crypto.’

The report alleges that Bitcoin is moving towards its vision of becoming digital gold since altcoins are prized for their other services:

“To the extent, we believe that alternative assets and networks will provide differentiated services; (beyond the store of value and digital gold as Bitcoin is targeting). It will be important for the industry to build support for these other assets as well.”

Like what you're reading? Subscribe to our top stories
Tags: altcoin marketsAltcoinsBitcoinBTCBusinessCoinbasecryptocryptocurrencyETHEtherEthereumgateway drugmarket updateMessari

Related Posts

US Government Suspends Enforcement Of Crypto Broker Reporting Laws
Crypto news

US Government Suspends Enforcement Of Crypto Broker Reporting Laws

June 29, 2022
U.S. Power Companies Compromised By Supply-Chain Crisis This Summer
Analysis

U.S. Power Companies Compromised By Supply-Chain Crisis This Summer

June 29, 2022
NYDIG Study Analyzes Global Regulation Value In BTC Price Gains
Analysis

NYDIG Study Analyzes Global Regulation Value In BTC Price Gains

June 29, 2022
Facebook Twitter Instagram Telegram RSS Youtube

Newsletter

Like what you're reading? Subscribe to our top stories
situs qq online terpercaya
probola
Menyajikan live score bola terkini
www.jamberrynails.net
adtoken.com
Agen bola
judi online slot
daftar judi slot terbaru
situs BandarQQ Online
Situs judi online Terpercaya
poker online
judi bola
slot pragmatic
situs judi bola
situs judi bola
pragmatic play
judi bola
Situs Slot TOS885

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

No Result
View All Result
  • Home
  • Crypto news
  • Analysis
  • Editors’ Choice
  • Entertainment
  • Press Releases
  • ICO
  • Wisdom
  • Coins List
  • Advertising
  • About FXTimes
    • Privacy Policy
    • Terms of Use
    • Donate

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

Situs sbobet resmi terpercaya. Daftar situs slot online gacor resmi terbaik. Agen situs judi bola resmi terpercaya. Situs idn poker online resmi. Agen situs idn poker online resmi terpercaya. Situs idn poker terpercaya.

situs idn poker terbesar di Indonesia.

List website idn poker terbaik.
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.