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From humble beginnings in 2008 to its 2021 peak bitcoin has taken investors and the world for quite the ride. In just over a decade, bitcoin has faced so many ups and down sometimes cryptocurrency was off but sometimes it was on but always investors keeps their eyes on bitcoin. Although the bitcoin always fluctuates and it is its habit but nothing can stop bitcoin from its first position.
Bitcoin is decentralised peer-to-peer electronic exchange and it gives us opportunity to send other money directly to other people and with bitcoin we are so much convenient that we don't have to go to bank for any type of transaction on bitcoin everything is controlled by Blockchain technology and transactions are completely verified.
Bitcoin is the world most popular crypto currency and some people say that Vandi bitcoin will replace physical 💵 cash.
Bitcoin was created in 2008 for the first time by statoshi nakamoto . If we compare Bitcoin with the traditional cash then we will see both aspects like the drawbacks and advantages of both sides.
In the traditional system transactions can be reversed by the third-party but it is unique in bitcoin because in bitcoin you cannot reverse your transaction but yes there is complete data record.
On jan 3, 2009 the first block which was called as genesis block was mined and in this way blockchain was launched. After a week first transaction was happened . So it was a new start for a new thing. When bitcoin was launched people start assuming new things about it and some people were believing that there will be no future if bitcoin and they were not showing any interest in bitcoin but with passage of time we got to know the importance of bitcoin and now people are repenting that why they did not mined bitcoin when the price of bitcoin was nothing.
Bitcoin was the first which provided the base to other cryptocurrency and all the cryptocurrencies which are now present today are only due to introduction of bitcoin. In 2011 miners and coders started to build other networks like ethereum and litecoin and began to improve the code behind bitcoin blockchain adapting it for different uses.
Bitcoin is so much famous and one strong reason behind it is price of bitcoin which is the highest among all other cryptocurrencies.
it was February 2011 when bitcoin touched the value of $1 . Just imagine if you heard about bitcoin back in 2009 then now you would be a millionaire . In the same year and in the month of june bitcoin touched $31 which was huge back in that time.
Almost two years later bitcoin touched $200 and after it bitcoin never looked back. It covers long distances and the phase of covid was a surprise phase for bitcoin investors because ut reached the highest price that year which was $68990.