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Is bitcoin overly speculative?

The dramatic rise in bitcoin may seem overly speculative. Yet bitcoin has actually lagged the surges for some other cryptocurrencies. While bitcoin has soared 15% in the past week to hit a new all-time high just under $20,000, ethereum – the second-largest crypto after bitcoin – is up more than 20% in the past seven days.

Why did bitcoin's hash rate fall?

When explaining this correction, analysts cited several variables, including a sharp decline in bitcoin’s hash rate, traders’ high use of leverage and the low liquidity that typically exists during weekends. What Is Bitcoin And How Does It Work? Bitcoin Rises Above $50,000.

Is bitcoin's surge out of hand?

Yet it would be wrong to dismiss bitcoin’s surge out of hand. Eventually, an accommodation with regulators, more liquid trading and clampdowns on criminal activity—the supposed anonymity of bitcoin is overstated—could give it a wide appeal. Bitcoin was originally sold on the promise of upending the global monetary system.

Is bitcoin bigger than other cryptocurrencies?

“Part of what’s going on is simple math. Smaller coins can have bigger [percentage] moves and there are a lot of other coins that people can invest in,” said Greg King, CEO of Osprey Funds, a firm that invests in digital currencies. To that end, bitcoin is significantly larger than other cryptocurrencies, often referred to as altcoins.