The cryptocurrency market collapsed before the halving, with Bitcoin collapsing by more than 12% in a matter of minutes.
The flagship digital currency has also dragged altcoins down, and now the cryptocurrency market is quite ‘bloody’, with Bitcoin trading over $ 8,600.
Halving is scheduled to take place in less than two days, and some analysts expect to see a further drop in the price of BTC after the event, as well as before the largest crypto asset enters a parabolic bullish market.
Bitcoin has a huge impact on the financial world
The co-founder of Ripple said that Bitcoin has caused a movement that will have a huge impact on the world of finance.
Chris Larsen recently spoke in a new interview about the early days of BTC. He said the aftermath of the crisis in 2008 was the perfect time to create the coin.
“I think Bitcoin was the right technology that hit the right economic moment. I really think it was a breakthrough … Bitcoin had that perfect storm of fundamentally new technology, decentralized, which was something [other projects] couldn’t or didn’t do. “
XRP , a better version of BTC?
He also referred to the early days of Ripple and XRP Ledger, arguing that XRP was designed to be a better version of BTC, with the main focus on energy efficiency.
“Before there was a company, the idea was, can you build a better Bitcoin? I think we were all fascinated by Bitcoin … But there were problems, and I think the biggest problem is that the people who were attracted to the XRP project [thought] were Bitcoin just using huge amounts of electricity. “
Larsen went on to explain that this model is not sustainable in the long run, but Bitcoin will definitely be successful in the future.
Speaking of XRP, at the time of writing, the coin is trading in red and is priced at $ 0.196653.