There is no way anyone has not heard about bitcoin, which is the first of all the cryptocurrencies. When it was incepted, people predicted that it would not last long. However, bitcoin did not take long to prove otherwise. Starting from zero, it certainly came a really long way. Suppose you are searching for a top-notch platform to trade your crypto assets, go to https://bitcoin-sprint.com/.
These days, many people are becoming really interested in it. However, there are many enthusiasts who want to know all about it. So, if you are one of those trying to be aware of the entire timeline of bitcoin, you have to know about its past, present, and future.
Have you heard the name of the creator? It is Satoshi Nakamoto. Satoshi launched bitcoin on January 3rd, 2009. It was created to combat the challenges posed by the recession of 2007-08. There is great confusion around the man of creation. There are sayings that he is not one man but a group of people instead. Believing it is a group, people say the name is an assembly of all of the person’s names. However, no matter whether he is a person or a group of people, the world has not heard from him for a really long time. Satoshi Nakamoto disappeared from the internet in 2010, along with a lot of cryptos which makes him the richest man on the planet.
One of the unique features of crypto transactions is that it executes on a decentralized platform. There is no governing body. Rather, it is dependent on a system called blockchain system. Therefore, no government regulation is applied to bitcoin. This is the reason behind people getting attracted to it and starting investing in bitcoin. The highest market cap bitcoin reached was USD 352 billion. No doubt, it is one of the most economy-shifting incidents that ever happened in the world.
When initiated, there were different sayings around bitcoin. Many believed it to be just an economic bubble, and many believed that because of bitcoin, fiat currency would take a backseat shortly. Although none of it happened to be true yet, bitcoin certainly holds a great position. In this regard, it has worth mentioning that bitcoin reached its highest price last year (2021), which was 65,000 USD.
The Present Status of Bitcoin in the Present Context
Currently, the price of bitcoin is going on the lower side. The price fell even more in the past few months but could not make it any less popular. People are still investing in it. In fact, keeping the growing population in mind, many governments are trying to use bitcoin for their country’s convenience. One example of such a country is El Salvador.
In terms of transactions, bitcoin payments are becoming very much preferred because of their anonymity; bitcoin is becoming famous in almost all sectors nowadays. Many big companies are adding it as one of the payment options. Thus, they are making huge investments in bitcoin.
It is possible for anyone to invest in bitcoin just like they invest in fiat currencies. Just like the stock markets or stock exchanges, there are bitcoin exchanges as well, using which one can start trading or investing in it. However, people need to be careful about their exchange selections because there are various fraudulent platforms as well.
The current state of bitcoin makes it hard to predict the future. Nothing can really be said about the future. In fact, the industry veterans are also not predicting anything concrete. However, most of them think that bitcoin will rise again soon. The current fall in the price will not be able to hold it for a long time. At the start of this year, the prediction for the first cryptocurrency was to reach 100,000 USD which clearly did not happen by the end of the year. So, the hope is to see something magnificent in its growth in 2023.
These are the past, present, and future of bitcoin in a nutshell. Knowing all these is very important to make any kind of investment. Talking about the investments, make sure to invest in a small amount and in genuine platforms only.