All news: Bitcoin (BTC)

Bitcoin is the first cryptocurrency that appeared in 2009 and subsequently became a revolution in the world of technology. BTC (short for Bitcoin) has already won the hearts of many people and has become the choice of many institutional investors and large traders. In addition, in El Salvador, bitcoin has been adopted as the state currency.

The history of the main cryptocurrency began in 2008. Then in August, the domain name bitcoin.org was registered, and later a person with the pseudonym Satoshi Nakamoto published a document called “Bitcoin: an electronic peer-to-peer payment system”, where he talked about how the technology for exchanging cryptocurrencies would work.

On January 3, 2009, the first bitcoin appeared and in the same year BTC mining began, however, due to the fact that it was impossible to sell it anywhere, the cost of the cryptocurrency was $0, and even a year later bitcoin failed to reach $1. In 2010, the price of BTC began to rise and this year among crypto enthusiasts is known for an interesting case when Laszlo Hanech bought two pizzas for 10,000 BTC. At that time, the cost of one bitcoin was a measly $0.0025. Thus, the hero of the story has been preserved in the memory of cryptocurrency lovers as a person who could sell 10,000 BTC for $690,000,000+ in November 2021, but gave away his savings for 2 pizzas in 2010.

A year later, BTC began to grow actively, and 2011 is known to bitcoin lovers as the year of the debut bullrun. Then BTC rose to the coveted mark of $1. At the same time, the main cryptocurrency, due to the appearance of an article in Slashdot and Hacker News, added a decent number of followers. Later, similar material appeared in the well-known TIME publication, which decided to devote an entire article with the title “Bitcoin online money can challenge governments and banks.” Such a move allowed BTC to quickly multiply many times over and overcome the $32 mark. However, at the same time, bitcoin fell to $10, and WikiLeaks began accepting donations in BTC. Later, Bitcoin fell to $0.01 due to the Mt.Gox hack, which affected more than 60,000 users in the amount of $8,700,000+.

Two years later, BTC reached its first thousand and the cost of one coin was estimated at $1,000+. For the next 4 years, the mark of the main cryptocurrency dangled below $1,000 and was able to repeat and improve the record in 2017. In a year, the flagship cryptocurrency went from $1,000 to $19,483 and the market capitalization of BTC exceeded $330,000,000,000.

In 2020, BTC has become a breath of fresh air in the world of crisis due to the coronavirus pandemic. When all markets fell and the economy was under attack, investors invested in bitcoin and made a profit. 2020 started for BTC at $7,200 and ended at $19,000, but that doesn’t compare to what happened next in 2021. In October of this year, the very first adoption of BTC as a national currency in El Salvador took place. This news had a negative impact on the bitcoin exchange rate, however, in November, BTC was able to reach its record high and at the moment reach the $69,000 mark and remained at a high level for some time.

2022 became a year of a downtrend for the flagship cryptocurrency, and by the end of the year, Bitcoin was already able to update its two-year low and reach $15,600, which few people could have thought of a year ago.

Bitcoin differs from many altcoins in its stability and low volatility. Against the backdrop of projects such as Terra (LUNA) or the American exchange FTX, bitcoin is getting higher and higher trust, since many people call the main cryptocurrency digital gold, and BTC itself has already gathered an army of followers around itself. In addition, storing bitcoin is quite practical, which cannot be said about gold. If, for example, $5,600,000 in gold equivalent weighs about 100 kilograms and it takes some effort to transport it, then in the case of cryptocurrencies, it is enough to transfer BTC to a cold device or even send it via the blockchain. Various projects are fighting for practicality in transactions and commission reductions, since bitcoin can make transactions for hours, but the main cryptocurrency is still the main choice of investors.

In general, summing up, we can conclude that bitcoin is the future in the field of finance, which will be able to bring the concept of “decentralized finance” into the usual vocabulary of people. The interesting, though not perfect, technology of the main cryptocurrency can change people's lives and make the process of transferring funds much easier, and the concept of “investing in bitcoin” is already seriously competing with the phrase “investing in gold”.