Since the beginning of the year 2009, the cryptocurrency industry has been acquiring gradual growth and adoption. However, all of the success gained by the industry dwarves against the amount of success and adoption that the industry has experienced in the year 2020.
During the year 2020, the entire cryptocurrency industry has gained an enormous amount of adoption. The adoption came not only from the individual investors but also from the retailers and financial institutions.
Although the industry had gained a lot of adoption, the only thing that the cryptocurrency industry needed was mainstream adoption. Once mainstream adoption came to the industry, the cryptocurrency industry became unstoppable.
Since then the industry has been experiencing all-time highs. The adoption rate and surge in prices came not only to the major cryptocurrencies but to small-time cryptocurrencies as well. There are several cryptocurrencies that were introduced in 2020 and even their prices are soaring until now.
One of the most prominent cryptocurrencies throughout the year was none other than Bitcoin (BTC). The cryptocurrency went onto proving every person opposing its potential wrong. After the downfall that Bitcoin (BTC) experienced back in 2017, the majority of the investors were skeptical and worried about facing the same fall.
However, Bitcoin (BTC) prevailed and reached its all-time high for the year 2020 by crossing the $20k per BTC barrier. Since then, Bitcoin had only shown a parabolic trend with respect to its price and market capitalization.
However, on the 10th day of the New Year, Bitcoin (BTC) ended up losing its bullish trend and is now fighting to survive through the bearish nature. After hitting an all-time high of $41k per BTC on January 9, 2021, Bitcoin (BTC) plunged all the way down to $30k and is currently hovering between $32.5k and $33.5k.
While Bitcoin (BTC) is busy trying to retain its prices and market capitalization, Ethereum (ETH) is constantly breaking all barriers. Ethereum (ETH) continues to experience all-time highs since the beginning of the month.
Now, the majority of the investors and analysts have their eyes and investments in Ethereum. One of the major factors that have kept the platform growing is its ability to allow developers in developing blockchain-based platforms.
It allows developers to develop and launch their own cryptocurrencies as well as launch their own DApps. With the help of the platform offered by Ethereum (ETH), several networks have developed and launched NFTs through the Ethereum (ETH) platform.
Bitcoin (BTC) on the other hand, has only restricted itself to only providing mining or trading services. This is the main reason why Bitcoin (BTC) is struggling with its prices while Ethereum (ETH) is constantly on the rise.
The very nature of Ethereum (ETH) and its adoption rate makes it a reliable asset to invest in.