Bitcoin has been in existence for centuries and its long-term existence is what has made it stand the ups and downs associated with the world of cryptocurrency. When someone says that bitcoin is more popular than other cryptocurrencies, he/she must have reasons why they think so. In that case, it is important to consider finding out why bitcoin has been popular and has been able to withstand the turbulence that comes with unprecedented dark hours. On that other hand, it is important for you to ask yourself what the dark hours mean. Dark hours are simply those instances or period when bitcoin popularity is not doing well.
Bitcoin and its darkest hours
Just like any other thing bitcoin has its challenges and these challenges are actually its darkest hours. With that, there are a number of instances when Bitcoin has plunged into its darkest hour. The first darkest hour that bitcoin encountered was when most of the state in the world banned the use and even anything to do with the transaction using bitcoins. This was alleged to be misleading the citizens and that the government lost revenue given the fact that most cryptocurrencies are transacted through independent block chains that are not directly linked to financial institutions.
The other darkest hour is that instance when the value of crypto becomes affected by the current world economic changes. In some cases, the bitcoin value has run into its lowest market value and this meant that some people could sell at a loss. This made it unpopular and in fact, some of the lovers of bitcoin crypto were forced to seek refuge in another crypto that was faring well in the market as at that moment. This was another darkest moment for bitcoin.
The popularity of bitcoin is unshakable
Even with bitcoin having to go through a number of darkest hours, it has all the years maintained its spot in that crypto market share. This, therefore, means that bitcoin has remained one among the popular cryptocurrencies in the market. What could be the reason for this popularity? The first reason, of course, is the fact that some of the users are loyal only to bitcoin and they rather stick to bitcoin over other cryptocurrencies. Secondly, bitcoin has a tendency to recover faster from its miseries and darkest hours than any other cryptocurrency. This has guaranteed it of its popularity.