In the year 2022, it is obvious for every one of us to be curious about the biography of bitcoin. Knowing the fact that it was launched in 2009, and has made people rich is not enough for us. With an anonymous inventor, unpredictable market value, and rising cases of allegations, Bitcoin sustains to be the most wanted cryptocurrency.
Though people did not recognize Bitcoin as a worth investment option a few years ago, today it is owned by almost 90 percent of people involved in the cryptocurrency market. Internet is the best pal to help people explore it and make them confident about their investment decisions. So, if you are still confused, keep on reading to know all about the past, present, and future of Bitcoin.
Past of Bitcoin
Bitcoin was introduced to everyone in 2009 with a starting value of $0. As “Bitcoin” was the first cryptocurrency, people had no idea what it was. It took time of about a year to analyze the whole cryptocurrency market. In the past, people thought it to be a scam as it has no recognition by any government.
During this long 12 years journey, Bitcoin gained a lot of attention especially when the prices were rising. The graph of its valuation was going up along with the number of investors of the market. It took 8 years for bitcoin to cross $500 and 10 years to reach $1000.
No sooner did people start making a huge profit, a few governments started making bitcoin legal in the respective countries. After recognition, it got a new value as it started flashing in newspapers, social media, and other channels of communication.
Present of Bitcoin
As of now, bitcoin is legal in many countries and is accepted as a certified mode of payment. It is now used for travel, shopping, space travel, and much more. Although its price is declined at present, the value of Bitcoin is much higher.
Since all bitcoin transactions are open source, no complications are involved with it these are much easy to trace. Transactions are done cleanly and clearly and there are apps like digital currencies where people can trade from their comfort zone which is beneficial for everyone; the bank, the government, and the common people. If you are planning to invest your money, bitcoin is the best option as till date no other cryptocurrency or investment has given such huge returns.
Today, the risk of investing in bitcoin is high due to the volatility of the crypto market. Similarly, mining bitcoin is much difficult and expensive than it used to be earlier. The best part of bitcoin today is that it cannot be hacked due to its complex encryptions.
Future of Bitcoin
Is there a future for bitcoin? This is one of the frequently asked question today.
As per the journey behind, the future of bitcoin tends to be bright bringing lots of millionaires in limelight. The price of bitcoin is supposed to reach $2,00,000 and more by 2025 as the experts predict. In the long-term, as there exist people who believe investments with risk are rewarding, bitcoin is going to be the best option to go for in the future.
The experts suggest that in the future, all payments will be made through cryptocurrencies. Be it a small or a huge amount; all transactions will be made at a higher speed with the cryptocurrencies exchange.
Bitcoin can be proven to be good global finance. It can be traded all around the world and can be used in multiple ways. As the price of bitcoin is predicted to be $5,00,000 by 2030, its future has a lot of theories by different people like investors, billionaires, experts, and daily traders. It can be proved as a digital asset for multinational companies.
It took bitcoin 12 years to reach where it is today and has changed the perspective of the entrepreneur as a sense of capital for their business. Will cryptocurrency replace cash or cards? It’s a big question to answer though in the coming years, it is not possible because if the liquidity is over, the prices of bitcoin can crash to zero. It’s a possibility suggested by the experts. Looking at the past, bitcoin has come a long way and today in the present it holds a strong position. Therefore, the future predictions are also very optimistic.
