Bitcoin, from the moment it was created, caused tremendous uncertainty among the financial community because it is an asset that works without the regulation or supervision of a financial institution; that is thebitcoincode.io is entirely decentralized, whose emission is generated thanks to complex mathematical calculations that the miners do, managing to keep the chain of blocks updated.
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Many peculiar characteristics have demonstrated and allowed the current positioning of cryptocurrencies, even being considered the ideal financial tool to combat the inflation that attacks the world’s economies.
While banking entities use the increase in interest rates to combat inflation, cryptocurrencies are subject to the judgment established by the market.
It may not be the best crypto scenario. Still, it has shown strength after not falling to values even close to its initial value.
Bitcoin price history
Analyzing the performance of Bitcoin since its inception, we will be able to assess how the market over time has strengthened in market capitalization, price, and confidence, this and more relevant data.
Bitcoin began to be marketed in 2010 when its price was established by a web portal known as Liberty Standard and was the equivalent of 0.008 dollars.
Notably, Bitcoin’s growth since its creation has positioned it as the #8 ranked asset based on market capitalization.
The chronology of the price of Bitcoin is usually more interesting to evaluate from the perspective in which the halving has occurred, this term being the halving of the remuneration miners receive for the creation of a bitcoin.
To date, Bitcoin has gone through four stages of reduction. First, its prices would go from 1 dollar to its last historical maximum of 60,000 dollars. It is currently going through a bearish phase, taking it to 19,000 dollars.
- The first price stage was from 0 to USD 30 during the years 2009 and 2011
- The second price stage was from $30 to $250 from mid-2011 to April 2013.
- The third price stage fluctuated from 250 to USD 1.1100 values during 2013.
- The fourth price stage was from 1,100 to USD 19,600 in 2014, closing in December 2017.
- The fifth price stage is from 19,600 to USD 43,000 from the beginning of 2018 until January 2022.
Prices have varied significantly, but we can tell that it is constantly developing a better closing value than the last one before halving.
We could be close to touching perhaps $17,000 as a meager value and could start to develop an uptrend.
Analogies that increase confidence in Bitcoin
Cryptographic history has shown that many factors are involved in building an alternative financial market but are mainly driven by user trust.
When Bitcoin was created, a series of comparisons of the asset emerged that today are very interesting and capture the attention of many when searching for what Bitcoin represents to start investing.
One of the comparisons is that Bitcoin is like cash. However, for Bitcoiners, it could be much more effective since it is digital. Its transactions can be carried out quickly and effectively without knowing the counterparty.
Bitcoin is the new gold, but, digitally, this similarity arises because the pioneer of digital currencies cannot be counterfeited. Therefore, even if it is divided into small parts, it will continue to be Bitcoin but Satoshi in its most minimal representation.
On the other hand, it is usually considered a personal bank since the users and owners of Bitcoin maintain their records and operations personalized, decentralized and independent.
Will bitcoin go up again?
As we have observed the chronological development of Bitcoin, we can realize that this bearish stage is not the first in its history; we can be sure that it has been the longest due to the current social and economic situation.
The crypto winter may be near its end, and it is the ideal time to invest and avoid losses that could be used for other investments.
Conclusion
We are facing drastic financial and economic changes that are giving way to new financial stages and unique concepts that will promote decentralized negotiations and financial operations that can generate exciting rates of return regardless of the type of investor.
