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RE: Bitcoin's in a Bear Market, but I am more BULLISH than ever!

in #bitcoin6 years ago

What might be good push for Bitcoin is that some coins that started as CryptoNote coins are going to switch this year to Bitcoin Core with some modifications to make it more anonymous. Some projects lost faith in ASIC resistance on CryptoNight algorithms due to too complex changes proposed for Variant 2 late last year.

Generally CryptoNight coins have had lower exchange rate than coins based on other technologies and switching away from CryptoNight gives more volatility to Bitcoin.

Also, for last few months, hardly no new CryptoNight coins have been added to popular exchanges that usually accept new projects, for example TradeOgre has added only one coin recently since they added Ethereum (which they initially didn't want to add due to maintenance costs).

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The barriers to entry getting coins listed on major exchanges seems to have increased dramatically.