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Bitcoins are a popular name in this age today. As you might already be aware, it is the cryptocurrency with the largest market cap in the crypto market. But what makes Pattern Trader as popular and successful as it is? Have you ever wondered?
If you are about to start your investment journey or are simply fond of learning about things, this article is for you. Here, we are about to discuss everything about Bitcoins. Its past- how Bitcoin came into being and how it got to where it is, present- what its present-day scenario is like, and future- what to expect from Bitcoins in the day to come and how things are likely to turn for the digital currency as well as its investors.
Past of Bitcoins- How Did It All Start?
The most successful digital currency was launched back in 2009. As expected of a digital currency, Bitcoin was launched virtually by an anonymous user and developer. The person named himself or herself Satoshi Nakamoto. The day was January 3rd, 2009, when the first piece of Bitcoin was known to be mined in the history of Bitcoin mining.
Later, in the same year, the first exchange using Bitcoins was made on October 5th, 2009, which was valued at US $1=1,309.03 BTC. Soon after that, the next year to come, in 2010, on May 22nd, Bitcoin made its first actual transaction in the real world.
A programmer named Laszlo Haneycz made a transaction worth $3.8 Billion using the newly launched cryptocurrency. He paid 10,000 BTC, which was valued at about $25 back then. He used it to pay for pizza. Since then, Bitcoin has been in use, and several people have used it and continue to do so till now.
Present Scenario of Bitcoins- How Is It Performing?
Bitcoin was off to a great start ever since its launch. There may have been a few bumps, highs, and lows down the road, but the journey has nonetheless been exciting and worth watching. Today, most people use Bitcoin as a popular payment method and a worthy investment option. But what is the status of Bitcoin today? Has it gained acceptance all over the world?
Do people recognize it? Well, in the present day, 54 countries in the world recognize the existence and use of Bitcoins. Their countries have proper laws, policies, and government regulations regarding purchasing, selling and using Bitcoins. Asian countries like India, Thailand, Jordon, Mexico, Kazakhstan, China, and Russia are known to use Bitcoins as an accepted payment gateway system.
They either do not recognize its existence and do not accept is as legal tender or under peer pressure of the world trends have formulated laws and regulations, but they are too strict and restrictive, or both. On the other hand, countries like Vietnam and Iceland have imposed complete bans on the use of Bitcoins.
Future of Bitcoins- Are There Any Growth Scopes?
The future of Bitcoin cannot be predicted. In general, Bitcoin and the crypto market have seen their fair share of ups and downs and are likely to do so in the future as well. People in general and specialists who exclusively track the activities of Bitcoin can make predictions, but there is no guarantee of that being right.
Given the high market risk and volatility of Bitcoins, people already consider it a risky investment option. People are also apprehensive because blockchain technology and other such tech terms related to cryptocurrencies are fairly new to people, and they are still learning and adapting.
As the cryptocurrency investment market is growing rapidly, more and more people countries have started recognizing it and formulating policies around them as well.
Based on the aforementioned factors, it is safe to say that Bitcoin is about to gain more recognition and acceptance around the world over the coming few years. As more and more people join the bandwagon, the exchange rates of Bitcoins should also stabilize at least a little.
Therefore, Bitcoins will continue to be a great opportunity for investors in the times to come. If you wish to start investing in crypto and Bitcoin, then always opt for reliable crypto trading platforms.