Just in the last few weeks, Bitcoin has risen significantly. But Tone Vays tells Silver Doctors Bitcoin has to rise above $12,000 in order to end the downtrend. But in the long term, he is bullish on Bitcoin and believes Bitcoin is the only cryptocurrency that will survive.
Vays says there is room for only one cryptocurrency in the future. If there were more than one then the energy usage would be split across the multiple blockchains and each blockchain would be less secure.
Will Bitcoin be money in the future? Vays is hopeful Bitcoin will serve as money that increases in value along with technological advancement.
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