November 2018 will hopefully be the lowest point for the king of cryptos – Bitcoin. Crypto world enthusiasts are hoping that the BTC will fall no further. As we write this report the price of Bitcoin has dropped below $4,000, no reason to believe that it will not fall further.
This has been a major shock for crypto space followers, BTC was supposed to be the perpetual bull, breaking one record after another. Without getting into the why, when and how about this BTC drop, let us ask ourselves a simple question. Can the crypto world survive with a small Bitcoin or even, with no Bitcoin.
The crypto movement has grown in leaps and bounds, mining operations, crypto exchanges, marketing outfits, events and shows and the list is never ending. The point is that, more than 70% of this activity is driven by Bitcoin fever.
No one really knows for sure who started Bitcoin but, millions across the world believe that trading in BTC is the only way to become a millionaire or if lucky, a billionaire. It was roughly in the 10 to 12 month period of 2017 that the BTC went up from $1,000 to nearly $20,000. All this activity was driven by speculation, no project, no crypto exchange controls, no worry about any laws.
Time flows like a river and we come to November 2018, Bitcoin has been struggling to get a foothold, it keeps slipping and seems to be pulling down the overall crypto mood and market with it. The rumor mills are working overtime, investors in Bitcoin keep churning out fairy tales of about how, this crypto would kiss $100,000 or more by the end of 2020.
It is time that the crypto community got over its rendezvous with Bitcoin. Nothing wrong in having heated debates and writing stories about how the BTC would bounce back, but it is important to keep in touch with reality.
The big question is whether, the crypto world can continue to exist, perform, develop and flourish with a tiny Bitcoin or no Bitcoin at all.
Crypto space enthusiasts have stayed away from many promising blockchain projects, all because of a weakening Bitcoin. It is important for this niche community to encourage and motivate projects with potential.
The world will not see another Bitcoin and that is a good thing, we don’t need another either. Cryptocurrencies need to align themselves with the real world economy. Wild speculation might deliver a handful of millionaires but, for the finance community as a whole, it is something that is highly undesirable.
Glitzkoin And DiaEx: One of the very few projects to be actively supported by the crypto community, the Glitzkoin diamond blockchain project successfully completed its ICO in June 2018. The Glitzkoin GTN token price was fixed at $0.20 during the ICO. It was the powerful project behind Glitzkoin that, impressed seasoned crypto lovers. DiaEx the Diamond Exchange is at the heart of the Glitzkoin project. The GTN token was listed on Stellar exchanges and traded at around $0.18 to $0.23 until October 2018. An extremely good performance if you consider the fact that, most cryptos launched during the same time, lost upto 70% of their ICO value in the first few weeks of being traded.
The DiaEx application is due to be launched in the last quarter of 2018. Strong support from the crypto world continues. The fact that the GTN token would be the mode of payment on the DiaEx, bodes well for the price of the token. With the DiaEx set to be launched by the end of 2018, trading activity has picked up – this has resulted in a price surge. The Glitzkoin GTN token hit the $0.30 level in November 2018. A handsome 50% gain over the ICO value of $0.20.
Review the performance of the GTN token and trade it on the StellarX exchange at https://bit.ly/2Re6sCX