Bitcoins Statistics and Future Prediction
Cryptocurrency
Cryptocurrency, in simple words, can be called digital money that is not backed by any government. It is secured
by cryptography- the technique of coding and decoding data based on mathematical and computational
algorithms. This makes cryptocurrencies extremely secure. Visit at: meta-profit.app
There are more than ten thousand active cryptocurrencies. Here are the top ten cryptocurrencies in descending
order of their market cap- Bitcoin, Ethereum, Tether, BNB, USD coin, XRP, Terra, Solana, Cardano, and TerraUSD.
Bitcoin
Bitcoin was the world’s first cryptocurrency, debuting in 2009. It is decentralized digital money, which implies
that no single authority controls it.
Who invented bitcoin is still a mystery, and the fictional name given to the person or the group of people is
Satoshi Nakamoto.
The bitcoin network is a distributed ledger based on a Blockchain technology called the bitcoin blockchain. It
was started on 3 January 2009, and it records bitcoin transactions.
Bitcoin was initially meant to be an electronic medium of exchange and act as a cash system where people
exchange digital money. However, things turned and changed drastically. Now, bitcoin has become an
investment that attracts and intrigues so many investors.
Features
The most interesting feature of bitcoin is it is not controlled by any organization or government; anyone can join
the network if they wish to with no external restrictions. And, bitcoin transactions are direct user to user.
Bitcoin is an extremely volatile cryptocurrency; the price of bitcoin fluctuates very frequently and drastically.
This is because bitcoin is influenced by various external factors that include investor and user sentiment, supply
and demand, media, government, and more. Bitcoin is limited. By current trends, it is estimated that it will run out by 2040. The limit of bitcoin is 21 million coins, and when it is reached, no new bitcoin will be released. This makes bitcoin much more valuable.
Stats of price history from 2013
Since the initial stages itself, bitcoin has been volatile, which means it has seen some drastic changes. One day
it might skyrocket, and the other fall down to the ground. This makes it a non-safe investment; however, it yields
a big amount of profits to the investors when the prices are gone up.
Bitcoin started at the price of zero when it was first introduced in 2009. The price took a sudden rise from 0 to
$.09 on July 17, 2010. Many people started accepting and using bitcoin which results in a drastic rise from a
dollar on April 13, 2011, to $29.60 on June 7, 2011.
The price of bitcoin declined to $2.05 in November 2011 and again rose from $4.85 on May 9 to $13.50 on 15
August 2012.
Bitcoin saw a great improvement in price in 2013. It scaled from $13.28 to $230 in April 2013. After a few ups
and downs, the price reached $1,237.55 in December 2013, from $123.00 in October 2013. However, it saw a
decline within 3 days to $687.02.
Until the starting of 2017, the prices had gradually risen to $900. It moved upward from $1,000 to $2,000 in
May. The price saw a drastic upscale of $19,345.49 in mid-December.
The prices fluctuated here and there till 2019, and then, in 2020, Covid-19 came, and the price of bitcoin reached
$29,000 in December 2020, following from $19,157.16 in November 2020, and was $6,965.72 at the beginning
of the year.
The price of bitcoin once again rose from $40,000 in January 2021 and skyrocketed to over $61,000 in October
2021. The prices went down once again in July to $29,795.55.
It reached $68,990.90 on November 10, 2021, and fell yet again to $49,243.39 in December 2021.
Future trends
Investors say that bitcoin is going to cater benefit everyone in the coming future, and the price is bound to rise.
Despite its volatile character, bitcoin is likely to expand in value in the future. However, no one can make sure
predictions. Some big companies such as PayPal, Starbucks, Microsoft, twitch, and more accept bitcoin payments now. Many people are doing bitcoin investments. One can use any crypto trading platform, such as the Bitcoin Era, to make
bitcoin transactions. All these factors along with the supply-demand ratio of bitcoin are influencing bitcoins price.
Conclusion
Bitcoin and other cryptocurrencies are becoming more and more famous as the media and investors are very
intrigued by their progress and fluctuating nature. If you’re looking for a safe investment, bitcoin isn’t for you.
However, it can be a good investment. Bitcoin trends are also an indicator of the trends of the entire crypto
market as it is the largest cryptocurrency, and all of them are affected by almost the same factors.
