Bitcoin And ETH Worth Or Value – What Is It?

To put it very simply Bitcoin and ETH are cryptocurrencies that, have their price determined by demand and supply. The price could be referred to as a true value or worth if, it maintains itself over a period of time. Talking specifically about cryptocurrency, we would not take the price to be the true wort of the crypto if – the equation between demand and supply is deliberately tampered with. This is generally done when there is an intention to manipulate or pump, the price of the crypto.

Our report will refer to both BTC and ETH, so we might not repeat both names in every reference. We need to review Bitcoin as it stood about 2 to 3 years ago and Bitcoin, as it stands today. There was a time not so long ago when investing in crypto meant, buying Bitcoin and possibly ETH – you could hardly imagine building a crypto portfolio without including BTC. Even as Altcoins started to appear, the general belief was that Bitcoin, was the ‘real thing’.

Price manipulation or pumping as it is commonly referred to, happens with many cryptocurrencies – but since we are on the topic of Bitcoin, we limit our reference to BTC. That BTC prices were being manipulated is no secret, it has been going on for years. The interesting thing is that, the BTC pumping game actually worked. It involved active roles by big BTC investors, ‘reputed’ crypto media portals and ‘respected’ crypto analysts.

So why did Bitcoin price pumping work? With few other crypto options in the earlier days, crypto enthusiasts continued to speculate on BTC. Crypto trade participants consisted of a small group of, crypto savvy investors. Interestingly deep knowledge about crypto trade and price manipulation, were understood by just a few investors. Paid and biased crypto media reporting, easily mislead investors. All that big Bitcoin players had to do to increase the price of Bitcoin, was to make a purchase of calculated volume and run paid media campaigns.

The above scenario pushed up the price of Bitcoin, the next step was a sell off – the same cycle would continue. With this strategy it became possible to develop a rosy picture of BTC. We then saw ‘reputed’ analysts making exaggerated Bitcoin price predictions. Crypto enthusiasts will remember BTC predictions like $100,000 and up to $1,250,000 – investors kept planning medium to long term BTC investors, hoping to see that massive appreciation.

Now moving into the currency crypto scenario – many #Altcoins with potential, more knowledgeable crypto investors, a wider investor base and investors coming from all professions and backgrounds. Investors have multiple crypto opportunities, this is something that is steadily reducing, the dominance of cryptocurrencies like Bitcoin and ETH.

Another fallout from the current scenario is that, BTC price pumping has started to lose the wide support that it once drew. The crypto commands lower price levels, investor response to price pumping is increasingly sluggish. Going by the Bitcoin value and worth statement, that we made at the start of this report – BTC value and worth are distinctly lower than, they were a couple of years ago. More investors are willing to pay, lower prices for Bitcoin.

In a broad sense the fact that, we have more actively trading cryptocurrencies is good for crypto markets. This is something that will reduce market domination by, a handful of cryptocurrencies. In the long term, this is something that will bring better stability to crypto markets.

Track Glitzkoin GTN on CoinMarketCap

 

 

 

 

GLITZKOIN: A quick recap of the Glitzkoin project and the GTN crypto token.  The project was launched to improve the demand for natural diamonds and to enhance, the efficiency and productivity of the multibillion dollar industry.

The DiaEx diamond trading platform was developed using Stellar blockchain resources. The GTN token was launched as part of the project and is designated, as the mode of payment on DiaEx. Promoted by second generation diamond veteran Navneet Goenka, Glitzkoin assigned a multifaceted role to the GTN token. 

The trading platform was completed in 2019 and was put through rigorous testing in early 2020. A team of diamond dealers subsequently did a pilot run on DiaEx with, actual transactions made on the platform.  This process was largely successful and revealed a few areas for improvement. The Glitzkoin tech team was handling the minor adjustment when, the pandemic and subsequent lockdowns slowed down the process. The management will reschedule the full launch of DiaEx once the health crisis eases.

Talking about the multifaceted nature of the GTN token, the project is also focused on further increasing usage for the crypto – this aside from crypto exchange trade and the payment usage on the DiaEx platform. The concept is to have operators of various businesses, accept the GTN token as a mode of payment in their operations. Moving this idea forward Glitzkoin has confirmed a partnership with online ticketing giant Myticket.asia, wherein clients of the ticketing portal could use the GTN token as a mode of payment. Technical requirements for the integration of systems on both sides is at an advanced stage, nearing completion. Reviewing the challenges that the entertainment industry has been going through during the COVID pandemic, both managements have decided to set a launch schedule when the situation starts to normalize. The arrangement setup between Glitzkoin and Myticket.asia will form the blueprint, for similar deals to be negotiated with other business operators.

 

                                                                                      CLICK TO JOIN US ON TWITTER

Related Resources: [Project Updates] [Buy Glitzkoin GTN] [Glitzkoin YouTube]