Bitcoin has been the market-leader for cryptocurrency since its inception back in January of 2009. It has taken the world by storm, with millions of people in countries far and wide all opting to invest in Bitcoin over rival competitors like Ethereum and LiteCoin. Not only that but Bitcoin is set to have another record-breaking year come the end of December 2021. Could it be because it’s currently at the forefront of government discussions across the globe, with many deciding if cryptocurrency is the new way forward for valid payment methods like that of Japan. With its blockchain technology, cryptocurrency is widely considered one of the safest and most secure currencies the world has ever seen. So is this the secret to Bitcoin’s success?
Why Bitcoin is so Popular?
It’s safe to say that financial experts back in 2009 didn’t see Bitcoin becoming anywhere near as popular as it has been, especially since it was completely new and had little to fall back on should it crash. Forecasters were predicting Bitcoin to have a mild level of interest and slowly faze out after 2-3 years, after the initial interest had piqued and died down. However, over the last decade, Bitcoin has managed to go from strength to strength, driving more and more users and in turn, it’s value to record-breaking highs. As of May 2021, Bitcoin is valued at over 58,000 dollars per coin.
Bitcoin Value Over the Years
Much like all currencies, Bitcoin’s value has fluctuated depending on the cryptocurrency market over the years. It has, however, remained more popular than its rival cryptocurrencies like Ethereum, even after its two crashes of 2018 and 2021.
Bitcoin has seen so much growth year on year that it reached peak levels back in 2017 when it soared over 900% of its value, causing an inevitable crash of the cryptocurrency bubble in 2018. This crash was, unfortunately for Bitcoin, a big one with 80% of its overall value being lost in just seven days. Many considered this to be the end for Bitcoin, after all, it hadn’t had to deal with such a huge loss since its inception back in 2009. So when Bitcoin managed to overcome the crash, and successfully too, with its value back to normal back in early 2010, financial experts were baffled. During this time, thousands of people across the world had taken the opportunity to invest in Bitcoin whilst its value was low, believing it would pick up and boom once more. A theory that was proven correct and made a lot of people a lot of money.
Bitcoin’s consistency in bouncing back so successfully from crashes is one of the reasons to invest but the fact that so many popular, world-recognised companies are openly investing in Bitcoin has also spurred more people to invest. The domino effect of investing, spurred on further by the media storm it attracts, has seen over 100 million adults worldwide own Bitcoin and over 14% of the entire population of the United States of America. With the likes of Tesla, and the O’Leary Fund both investing in Bitcoin and seeing huge success by doing so, there’s arguably no better time to invest if you’re a company or a single user.
In April of 2021, Bitcoin again hit a hurdle after massive growth in 2020, having a mini-crash that saw them lose a fifth of their value. It wasn’t just Bitcoin that was hit hard by this April crash however, all of their competitors also lost high percentages off of their value and the cryptocurrency market itself saw a whopping 300 billion dollars lost. Again, however, Bitcoin bounced back and today is now worth over 58,000 dollars per Bitcoin and is estimated to break even more records before the end of 2021.
Public Companies and Bitcoin
If that doesn’t convince the average person then the fact that pension companies are now turning to Bitcoin, alongside governmental bodies across the globe, it’s almost a sure thing that Bitcoin is here to stay and therefore, worth investing in.
Future Predictions of Bitcoin
The future of Bitcoin has been speculated about many times over, with financial forecasters predicting that Bitcoin will exceed all of its records by early 2022. Put that alongside the fact that more people and companies are accepting cryptocurrency as a form of payment, like Snoop Dogg did for his new album, then you can see why its value is set to soar exponentially. Most interestingly, a significant development for Bitcoin and the cryptocurrency market was Japan recently announcing that they will now accept it as a valid payment method in the country. It’s speculated that there are five other countries that are also set to announce this before the end of 2021 but nothing is yet confirmed.
If you want to jump ahead of the surge, then now is the time to invest in Bitcoin. If you’re a new investor or don’t have a lot of time to spend on your investment portfolio, the third party cryptocurrency auto-trading platforms are hugely popular. They all use some form of automation alongside an intelligent algorithm that identifies key trends in the crypto-market and the best deals at the best times for you. Trading is open to all crypto lovers on the automated trading platforms like bitcoin prime roboter. It’s been reported that millions of people have used these platforms and have in turn, made ten times their original investment of Bitcoin. There’s no greater time to invest in Bitcoin than when it becomes a globally-used payment method for all things. Currency is changing; it’s time to be part of the change!