But why is Bitcoin so Popular?
One of the most obvious findings of this investigation was that of Bitcoin’s popularity, and the population’s growing interest in this form of Cryptocurrency.
But why are so many more people interested in Bitcoin compared to other types of currency?
To find out, we consulted Bobby Ong, the co-founder of the cryptocurrency evaluation site CoinGecko and curator of the Cryptocurrency newsletter, Altcoin weekly.
“It [Bitcoin] is the first decentralized cryptocurrency and has the largest network effect”, says Bobby.
“The first altcoin, Ripple (XRP), was only launched two years after Bitcoin was created which is one of the many reasons why all other Cryptocurrencies are not as popular or valuable when compared to Bitcoin.
Bitcoin is also pretty much the de facto reserve currency for all Cryptocurrencies, thus boosting its value even further.”