BitInfoCharts.com’s statistics shows that around every 226th person on the earth possesses about $1 in Bitcoin, however some people have millions of dollars worth of the cryptocurrency in their possession. Roughly 4% of the global population may claim some familiarity with Bitcoin and the cryptocurrency industry.
If these numbers hold, it means that Bitcoin and other cryptocurrencies are gaining popularity; more and more individuals are interested in them; and more and more companies are working to make crypto payments a legitimate part of their operations.
Usage of Bitcoin Is Growing.
Supporters of Bitcoin are motivated to increase the cryptocurrency’s already legendary adoption rate due to the premise of cryptocurrencies, which are decentralized entities with no oversight by the centralized world. Adoption by the general public is the ultimate goal, and Bitcoin’s supporters won’t let anything destroy their hope for Bitcoin to become the default medium of exchange.
Bitcoin’s adoption drive is successful, but the asset itself is not; as a result, the price of Bitcoin is tanking, and there doesn’t appear to be any bullish run for the cryptocurrency to accompany it.
Currently, market corrections and a bearish market are pounding it, sending the price down to $20K and below. Many investors are already abandoning ship, and the least the cryptocurrency market can do is ensure that they don’t all perish at sea if nothing more stable appears on the horizon soon.
But despite the crypto market’s elation, it has no sway over the cryptocurrency’ volatility, or the rate at which their value might fluctuate at any given time without regard to the data or graphs that are meant to indicate how the market will likely behave in the future.