Bitcoin's birthday began when the coin reached its all-time high of $ 34,800. This new all-time high is the result of a one-year Bitcoin struggle after grappling with the impact of COVID-19.
The year 2020 was full of difficulties for cryptocurrencies, emerging stronger than negativity and paving the way for a parallel financial world. Bitcoin was the flag carrier of cryptos and as the global market struggled after the March 2020 crash, Bitcoin soared along with the monetary metal - gold.
In 55 days, it managed to increase from 3.8 thousand dollars to 10 thousand dollars. Meanwhile, the market set for the planned third halving in May was expecting a big bullish outcome from the event, but the largest crypto continued to consolidate until the end of July.
It made a jump in its value by August, but by September, the market witnessed a correction and the price once again dropped below $ 10,000. The cryptocurrency has recovered and consolidated above $ 10K, which is seen as the newly created support for BTC. All this while attracting the attention of institutions adding assets to their portfolio.
Thus, bull running has started since October 2020. Since then, the value has gained 212%, from $ 11,000 in early October to $ 34,000 in January 2021. At this point, BTC managed to surpass giants like Visa.
It became the 16th largest currency in the world, according to DocumentBitcoin, and reversed the Mexican peso and came close to overtaking the Russian ruble.
In value, this ATH was acquired on the 12th birthday of Bitcoins, a celebration throughout the crypto community. Square Inc., which actively invests in BTC. and Twitter CEO Jack Dorsey tweeted:
GOOD BORN #BITCOIN - jack (@jack) January 3, 2021
Ryan Watkins of Messari stated that with BTC, the creator of Bitcoin, reaching $ 33,000, Satoshi Nakamoto is the 40th richest person in the world. The researcher also:
"HOW LONG DOES SATOSHI TAKE TO BECOME THE WORLD'S RICHEST PEOPLE?"
Changpeng Zhao, other leading members in the field, such as Binance CEO, wished the Bitcoin community to highlight ATH and said:
"The Times January 3, 2009 Chancellor is on the brink of the second bailout for banks."
HAPPY BIRTHDAY # BITCOIN!
- CZ Binance (@cz_binance)
New ATH for Bitcoin has been acquired, but this would not be possible without Bitcoin's efficient network. The Bitcoin network has been operational for 99.98% of the time since its inception on January 3, 2009 at 02:54:25 GMT. This can be seen as an important milestone and success for the decentralized system and has highlighted its robust structure.
Bitcoin (BTC) price is currently at $ 32,925.96.