Do you know about Blockchains?

• No

Do you know Cryptocurrencies?

• No

Ok. Have you heard of Bitcoin?

• Yes! I have heard of Bitcoin.

Most of us were introduced to the wild world of cryptocurrencies through Bitcoin. It does not come as a surprise that it has a major influence on the overall crypto market. Today, Bitcoin's Dominance in the whole crypto market stands at around 44.5%.

If Bitcoin price increases by 5% the whole market shoot up close to 9–10%. If Bitcoin prices decrease by 5% the whole market plunges by 9–10%. The price of Bitcoin defines the whole cryptocurrency market.

These are some solid reasons behind this trend.

Bitcoin Whitepaper was published in 2008 and the project came live one year later in 2009. Bitcoin was not just the first project in this space, it laid the foundation for most of the crypto projects that we know today. It brought in the revolution of decentralized digital currency.

A lot of the crypto community has built amazing cryptos and applications. Bitcoin became the inspiration for a lot of early projects created. People who were convinced that Central Banks do not have the best interest of their customers and have enormous control over our hard-earned money. Where Central Banks kept printing unlimited paper money, Bitcoin became a savior with a fixed transparent supply of currencies.

Bitcoin has been around for over 13 years now and it still functions efficiently. Many projects that came after bitcoin didn't survive for long. As Public Blockchains are transparent, any person can access the network. Thus, these networks come under a series of attacks every day. Bitcoin has shown resilience to these attacks for the past 13 years and has proven the effectiveness of the Proof of Work[PoW] consensus mechanism to achieve consensus in distributed networks. This shows its strong security mechanisms and efficiency in keeping the network running at all times.

Bitcoin has been dubbed “Digital Gold”, whose price is only going to appreciate over a long period of time. Many Investors, Large Financial Institutions, and Tech Companies are holding large reserves of Bitcoin. As USD is the reserve currency in the global stock market, Bitcoin is the reserve currency in the crypto market.

Bitcoin Cash, Litecoin, Dogecoin, Bitcoin SV, Bitcoin Gold, and Bitcoin Diamond are only a few in the large list of cryptos whose origin can be traced back to Bitcoin. Prices of these currencies have a direct correlation with the performance of Bitcoin.

Bitcoin is the pioneer that brought about the birth of the crypto industry. With its strong ethos and mission, it has built a robust and resilient system of decentralized digital currency. It has a proven track record of being the most reliable cryptocurrency in the world.

It is important to understand that Bitcoin has gained its dominance with its merits and it has major say in the market sentiment.

Do you know about Blockchains?

• No

Do you know Cryptocurrencies?

• No

Ok. Have you heard of Bitcoin?

• Yes! I have heard of Bitcoin.

Most of us were introduced to the wild world of cryptocurrencies through Bitcoin. It does not come as a surprise that it has a major influence on the overall crypto market. Today, Bitcoin's Dominance in the whole crypto market stands at around 44.5%.

If Bitcoin price increases by 5% the whole market shoot up close to 9–10%. If Bitcoin prices decrease by 5% the whole market plunges by 9–10%. The price of Bitcoin defines the whole cryptocurrency market.

These are some solid reasons behind this trend.

Bitcoin Whitepaper was published in 2008 and the project came live one year later in 2009. Bitcoin was not just the first project in this space, it laid the foundation for most of the crypto projects that we know today. It brought in the revolution of decentralized digital currency.

A lot of the crypto community has built amazing cryptos and applications. Bitcoin became the inspiration for a lot of early projects created. People who were convinced that Central Banks do not have the best interest of their customers and have enormous control over our hard-earned money. Where Central Banks kept printing unlimited paper money, Bitcoin became a savior with a fixed transparent supply of currencies.

Bitcoin has been around for over 13 years now and it still functions efficiently. Many projects that came after bitcoin didn't survive for long. As Public Blockchains are transparent, any person can access the network. Thus, these networks come under a series of attacks every day. Bitcoin has shown resilience to these attacks for the past 13 years and has proven the effectiveness of the Proof of Work[PoW] consensus mechanism to achieve consensus in distributed networks. This shows its strong security mechanisms and efficiency in keeping the network running at all times.

Bitcoin has been dubbed “Digital Gold”, whose price is only going to appreciate over a long period of time. Many Investors, Large Financial Institutions, and Tech Companies are holding large reserves of Bitcoin. As USD is the reserve currency in the global stock market, Bitcoin is the reserve currency in the crypto market.

Bitcoin Cash, Litecoin, Dogecoin, Bitcoin SV, Bitcoin Gold, and Bitcoin Diamond are only a few in the large list of cryptos whose origin can be traced back to Bitcoin. Prices of these currencies have a direct correlation with the performance of Bitcoin.

Bitcoin is the pioneer that brought about the birth of the crypto industry. With its strong ethos and mission, it has built a robust and resilient system of decentralized digital currency. It has a proven track record of being the most reliable cryptocurrency in the world.

It is important to understand that Bitcoin has gained its dominance with its merits and it has major say in the market sentiment.