Despite Recent Hacks, Bitcoin Remains The Superhero

The Bitcoin market is maturing. This is shown by the relative stability noticed in recent times which could be as a result of certain factors that have come into play especially within the past year.
Prior to this year, Bitcoin was subject to volatile swings in its value. While the risk is still there, it appears that only major fundamental events are triggering the same kinds of movements which were commonplace just a few years ago.
Cointelegraph asked experts what could be the reason for the relative stability being experienced within the Bitcoin market and what this implies for the cryptocurrency.
Bitcoin is maturing
Jason Cassidy of Emercoin says the prevailing pattern shows that the Bitcoin market is maturing.
Cassidy says:
‘Indeed, the Bitcoin market is maturing which over time will usher in waves of stability. I expect these to increase over time as volatility decreases.’
He continues by saying that as the cryptocurrency grows in popularity and utility it will begin to function more like a currency. People holding Bitcoin will find it more of a store of value which is part of the growing pains being experienced by Bitcoiners.

This post was published at Coin Telegraph on 2016-08-09.