After being launched in 2009, Bitcoin (BTC) has come a very long way and today, it has reigns as the top cryptocurrency in the entire world. There used to be a time when Bitcoin had only gained recognition as a new digital product. It was launched as a decentralized digital asset with the ability to change the traditional financial world forever. Initial years of Bitcoin meant that the enthusiasts could only acquire it through mining and had to believe that someday, Bitcoin would be worth something.
Initial Stages of Bitcoin
Until 2011, Bitcoin relied on the trust and belief of its enthusiasts and supporters who continued mining it since 2009. In 2011, the world was introduced to its first cryptocurrency trading platform and finally, Bitcoin had a market value. It started off with $1 price but the users who kept Bitcoin after mining it started trading the digital asset. As a result, the price of Bitcoin started experiencing an increase and Bitcoin earned its first breakthrough in 2013 when its price started growing bigger.
Bitcoin’s Tenure between 2013 and 2017
From the year 2013 to 2017, Bitcoin made moderate progress. The private sector started recognizing the true value of Bitcoin. Many could see that Bitcoin had the potential to grow into something much bigger and better. That was the time when Bitcoin started observing a surge in its price and the year 2017 was going to be the best for Bitcoin until then.
In late 2017, the price of Bitcoin surged as small amount of mainstream institutions started benefitting from its nature. They started investing heavily in Bitcoin and so did the independent investors. Bitcoin continued observing a rally and soon, its price hit an all-time high of $19k per BTC.
The Early 2018 Bitcoin Plunge
Just when the world thought that Bitcoin was going to grow and would be here for a long term, Bitcoin gave the biggest shock to the entire Bitcoin investment community. In the beginning of 2018, the price of Bitcoin suddenly experienced a plunge and BTC prices dropped from $19k all the way down to below $5k per BTC. All the trust that Bitcoin had gathered since 2009 went down the drain in an instant and investors were devastated. They wanted nothing to do with Bitcoin and other cryptocurrencies because the plunge was enough for them to decide whether they were going to continue trading or not.
Bitcoin from 2018 until Today
After Bitcoin’s sudden plunged, the analysts predicted that it was it for cryptocurrencies. However, this was just the beginning as Bitcoin had caught the attention of mainstream institutions who were going to take things to their level. In the next two years, Bitcoin gained tremendous success due to the pandemic and has grown so much that people are trying to get their hands on a single Bitcoin.
Because at present, one bitcoin is worth $33k, which is a significant growth demonstrated by Bitcoin. Surprisingly, this is not even the highest that Bitcoin has experienced because it went all the way up to $64k per BTC but then market rejected its price and it came down.
How are People Using it today?
Since 2020, people and investors have become so much determined about acquiring Bitcoin that they are going to any extent to make that happen. On the other hand, cryptocurrency exchanges/brokers are coming up with newer ways to make their platforms more attractive in terms of Bitcoin trading. The cryptocurrency brokers have introduced Bitcoin Robots that are known for performing automated trades on your behalf. These are robots running through algorithms and complex calculations to make automated trading possible. These robots are extremely useful and perform trades on your behalf. They make no mistakes or errors while performing trades. They never sleep and are available 24/7 to perform easy trades for you. They run signals and act upon them on their own to make things easier for you.
With time, the Bitcoin business has grown so much that exchanges such as eToro, City Index, and many other have started or are planning to adopt Bitcoin on a larger scale.
