Founder of “HEX” platform: Bitcoin has matured… and Ethereum has technical advantages

HEX platform founder Richard Hart has commented on the sharp decline in the digital currency market, stressing that he does not believe that Bitcoin is the best currency on the market and believes that other projects will likely surpass it, the most famous of which is Ethereum, founded by Vitalik Buterin.

Hart relies on the concept of the S-curve, which shows the adoption stages of technology and products over time, claiming that Bitcoin reached the top of the curve, or maturity stage, several years ago.

In his view, this means that Bitcoin already has widespread support and most people who need it already have access to it, making user growth and new adoption much slower and therefore opportunities for expansion limited.

Based on this, Hart believes that it has become more difficult to achieve significant gains through Bitcoin, and other currencies may be better suited for this.

He specifically mentioned that Ethereum has greater technological potential.

He also added that the actual quality or interest of a currency does not guarantee its popularity or high price, given that prices are more influenced by marketing and traders’ buying and selling behavior.

Returning to the market trend level, Bitcoin price rose by about 5.26% in the past day, returning to the $66,500 level, but not before falling sharply on the weekly basis of 30.55%.

Bitcoin price started declining after breaking above the $90,000 level on January 28, before the price reached the $63,000 range.

As for this wave of decline, there are many reasons, including gold and silver falling about 30% on January 30 after hitting all-time highs. In addition, weak performance of artificial intelligence companies has intensified investors’ concerns about the artificial intelligence bubble, and “Donald Trump”, who is known for his strict monetary policy, was nominated as the chairman of the Federal Reserve.

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