Bitcoin is a cryptocurrency based on blockchain technology, invented in 2008 by a person or group of people under the pseudonym Satoshi Nakamoto. His or their true identity remains unknown to this day. It was offered on the market in 2009, when bitcoin was worth only a few dollar cents.
Like other cryptocurrencies, bitcoin is not regulated, which means that it is not monitored by any central bank, nor is it supported by any of the countries. Like other cryptocurrencies, bitcoin is used as a means of payment for goods and services, it can also be exchanged for other currencies.
Bitcoin is back. The most recognized cryptocurrency did not reach the record milestone of 20 thousand dollars or a good 15,200 euros on Tuesday, but it is not far away.
Is it again a balloon that will burst like three years ago?
Back then, bitcoin fell by a quarter of its value in a single day.
Individuals, companies and even banks stopped laughing at bitcoin and started buying it. The value of one token is just about to reach 20 thousand US dollars (about 16,700 euros), which means that the cryptocurrency not only survived the catastrophic fall years ago, but returned to the very top. And this in a flood of more than 300 thousand other currencies or tokens.
Cyber security experts, however, warn that hackers are also coming with demand.You won’t know they have access to funds, but when you do, it will be too late.
By October this year alone, at least $ 10 billion (about $ 8.36 billion) of cryptocurrencies have been stolen, and the more than 170 percent jump in bitcoin is tempting for everyone - so be careful.
In 2017, we witnessed a real bitcoin craze. At that time, on some stock exchanges, the most recognizable cryptocurrency exceeded the already mentioned magic limit of 20,000 dollars (around 16,700 euros), but then collapsed by half in one month. Back in March this year, it dropped below $ 4,000 (about $ 3,342) due to a pandemic. The Bitstamp cryptocurrency exchange has now recorded a record value, and much more activity is expected with PayPal’s October announcement that it will allow bitcoin to be purchased and stored.
From the investment point of view, bitcoin has been recognized by investment funds and companies this year, some of which have invested more than 250 million. In China, they even introduced a national cryptocurrency.
What is your opinion on whether the price of bitcoin will rise or fall?
We will soon see what will really happen with this cryptocurrency.
Photos are taken from google.com.
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I think the price of bitcoin will continue to rise, at least I hope! This would also mean the growth of other cryptocurrencies. Otherwise, many will be at a great loss.