Will Bitcoin Close Age in 2019?

Will Bitcoin Close Age in 2019?

Bitcoin will die - So far, throughout 2018 it has been dominated by bearish markets, and it seems that this will not change quickly before we enter 2019.

Because of the current situation, many take a different attitude when it comes to crypto's future, and its main assets are like Bitcoin (BTC).

Although there are many people who believe that the bearish market is only a temporary problem, and the king of crypto investors like John McAfee strongly agrees, there are also people who claim that the cryptocurrency is heading towards its deathbed. Some even ask whether Bitcoin will close in 2019?

Crypto Mining Conditions

One of the biggest problems that crypto believes at this point revolves around the mining process. As is well known, mining is the process of using expensive computers to solve complex mathematical equations that lead to validating transactions made on the blockchain.

By doing this, the miners get a certain number of prizes from the blockchain cryptocurrency they serve. This comes as a type of gift to validate transactions, and at present they are very many.

The process itself is made in a way that makes it more complicated because more coins are circulating. While the resources needed for mining - such as computing and electricity - continue to increase, Bitcoin rewards continue to decline.

This can still work if the price of Bitcoin continues to increase, which is currently not happening. As a result, many miners chose to close their activities, and even mining facilities were being auctioned.

The entire network is hit by this, because transactions will take longer to be validated, which will cause people to finally stop using it.

Many have asked why Bitcoin has become so large so far, given the fact that the process of running the network is still less than the next generation of coins.

One answer given by analysts, Bitcoin is the most popular coin, because it is the first crypto to appear in this world.

However, while this analyst claims that Bitcoin might eventually fail, it is very possible for another cryptocurrency, which has the best technology at the moment, to replace it and lead the crypto space in the future.

This situation can be compared to internet search engines. While the whole world has heard about Google, not many people remember the first other search engine that ever appeared, AltaVista.

The Bitcoin network has a myriad of problems

Even though mining is a big part of the potential fallout of Bitcoin, of course this is not the only problem with this coin.

Another big disadvantage is the inability of Bitcoin to scale. The network can only process about three or four transactions at a time.

Visa payment networks, for example, can work through thousands of transactions per second. And, while there have been many attempts to make the BTC network artificially more scalable, the results have not achieved much like today.

Other major problems include a lack of anonymity, with BTC being a pseudonym, at best. Because of this problem, there are currently more than 2,000 different crypto projects on the market, trying to offer a better solution.

While none of them threatens the dominance of Bitcoin now, some are starting to get closer to really jeopardizing their position.

However, the situation may not be that bad, because it will likely take years before Bitcoin really falls if it ever happened.

With this in mind, Bitcoin is very unlikely to close its age in 2019, although there are reasonable concerns about its future further. While investors are advised to expect the best, they must also be prepared for the worst.

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