Bitcoin vs. Steem: Understanding the Disparity in Growth

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Bitcoin has been has been going though some good increase in value while Steem, which is a blockchain platform, which have been very slow in its growth. In my writing I will give some reasons which can explain what is going on between the two cryptocurrencies.

Bitcoin has been able to get acceptance and recognition as a value and a digital currency. At the same time used around the world for investment and transactions, it’s also moving to a surge in demand and at the same time increase in price.

For Steem, it hasn’t been able to get that same level of adoption and recognition, as that of the Bitcoin, and with that it has reduced its growth potential.

Bitcoin it also have a small distribution of 21 million coins, it open up scarcity and increase in it value. scarcity factor; it has been able to add to the increase in demand in Bitcoin, at the same time leading in raising of price.

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For Steem, it doesn’t have that particular fixed supply cap, and it has lead in inflationary pressures and a lower value.

BTC for the past recent years have been bringing in investors and a high corporations, the people brought in are really showing interest in investing in the cryptocurrency. The support which are going on has been able to give strong ground for the Bitcoin prices.

Steem hasn’t been able to gained that same level of institutional support as the Bitcoin, and which has really reduced the growth prospects.

Bitcoin has been gaining support from the institutional adoption and also the regulatory clarity, which has helped grow the investor Confidence. Regulatory has also brought in a level of legitimacy and credibility to Bitcoin and more investors keep coming in and the price keep growing.

For Steem it has pass though so many challenges, which has really affected its growth potential.

Bitcoin network; it’s a good network with miners and nodes that secure the blockchain and the transactions taking place, at the same time making sure the stability and reliability of the cryptocurrency are stable. It robust infrastructure has taken part in growing the Bitcoin success and the growth

Steem are going though big challenges in trying to develop strong and a secure network, it has given it that ability to compete with other cryptocurrencies.

BTC recently has been enjoying from the increasing adoption and it acceptance, retailers and the merchants are in support, and the are ready to accept the cryptocurrency as a form of payment.

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Steem doesn’t have that capability to get the same level of merchant adoption, which has stopped its value proposition and growth.

Lastly, Bitcoin recently were able to enjoy the market trends and it macroeconomic factors, which it includes economic uncertainty, inflation, and the currency devaluation, it has moved the investors towards alternative assets like the cryptocurrencies.

steem there aren’t able to work on these market trends perfectly, and with that it has affected its performance and growth.

In conclusion,the performance of Bitcoin and Steem, it can be an attributed to the mixture of factors, which include, mainstream acceptance, scarcity, institutional adoption, regulatory clarity, the network security, merchant acceptance, community involvement, it media coverage, and more. Meanwhile as the both cryptocurrencies keep growing and competing, it will be so interesting to see how the encounter these challenges and keep growing for the future.