The crypto currency recorded a decline during the first quarter of 2018. This condition contrasts with the year 2017 when the digital currency recorded a fantastic rally.
The movement of the crypto currency is very volatile, driven by the flow of news and rapid changes related to investor sentiment. In 2017, the Bitcoin trend for example, has pushed the price up 1.375%. This year on the contrary, the price is swooping.
The positive news for crypto currency, especially bitcoin comes from a company called Lightning Labs, which released Lightning Network, a program that allows users to establish dedicated payment channels that operate in parallel with the main bitcoin network. This product is seen as one possible way to help increase the capacity of bitcoin transactions, which remains a major constraint to its growth.
In addition, in March, Jack Dorsey, CEO of Inc. and Square Inc. Inc., told the Times of London he expects bitcoin to be the global single currency in 10 years.
Despite the sharp decline this year, investors who have had bitcoin since early 2016 have enjoyed a nearly 650% increase.
The decline of the cryptos mostly the top 10 ones has allowed new investors to begin their investing without any worries about losses that could occur when the crypto market was at its peak. Although this news might be negative for those who bought Bitcoin at $18000 or above, but its an amazing opportunity for those who are just entering the market.
Yeah, the Lightning Network is an amazing extension to the current situation of the Bitcoin as it can really impact the way people see Bitcoin. Although, its not confirmed that when this will be implemented into the current wallets, but it will be really an awesome thing. However, I am sure that it will be implemented into the wallets very soon.