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Bitcoin history and expected future

Bitcoin is described as the first decentralized digital currency. Virtual currencies first appeared in 2008 and were registered under the unknown name of a person named Satoshi Nakamoto.


Bitcoin currency history
Bitcoin history and expected future

Bitcoin creator identity

The true identity of the creator of the Bitcoin currency is still mysterious until today, although there have been several attempts to reveal his identity, they were unsuccessful. Bitcoin has around five million users around the world who own cryptocurrency wallets, most of them are Bitcoin users.


Bitcoin Evolution

In January of 2009, Bitcoin 0.1 was launched, and the first Bitcoin was mined by Nakamoto, and at this time the idea was spread only among those who believed in the idea of ​​decentralized currencies and the open-source economy, although its value was weak at that time And in 2010 AD, Bitcoin was used for the first time to complete the purchase of some pizza worth 10,000 Bitcoin, and their value at the time was approximately $25.

 

The year 2011 witnessed a great step forward in the field of using Bitcoin, as an online stripper was established for the first time that accepts Bitcoin payments, and this opened new horizons for the Bitcoin currency that did not exist before, and in February 2011 the price of Bitcoin reached only $, and in In 2013, things changed a lot.


The first bitcoin boom in 2013

At the beginning of 2018, the bitcoin currency witnessed a huge boom in its price, reaching about 200 dollars per bitcoin, then its price suddenly fell and went up again, reaching about 1242 dollars in November of the same year, but the price was not stable at this time. The limit for a long time, and soon fell to the price of 900 dollars in 2014.


Obstacles on the way up

After the bitcoin price stabilized at $900 in 2014, the big shock occurred when one of the bitcoin exchanges announced Mt. Gox bankruptcy, as its system was hacked, and it lost about 750,000 coins for clients, and one hundred thousand coins from the same platform and the size of the loss that occurred was estimated at about 500 million US dollars, and in 2015 the price fell to about 300 dollars This made Bitcoin one of the worst-performing currencies this year.


The second Bitcoin boom of 2017

The year 2016 witnessed a great boom and a qualitative leap for the bitcoin currency and for almost all cryptocurrencies, and the bitcoin currency began to recover from the shock of the decline at the beginning of 2017 when it reached in January 2017 the price of $ 1000 and not only that, but the price of the currency jumped a big leap In the middle of 2017 when the price of one bitcoin reached 3000 US dollars, and with the beginning of July, the price of the bitcoin fell by about 36%, and the price of one bitcoin reached 1869 dollars.


At the beginning of September 2017, the price of bitcoin jumped to $5000 per bitcoin, then it fell in the middle of the month and rose again, and by the end of October 2017, the price of bitcoin had reached $6300 per bitcoin, and today, as we approach the end of 2017, the price of Bitcoin today 16/12/2017 to about 19 thousand dollars per bitcoin, and we find from this that in 2017 alone the price of bitcoin rose from a thousand dollars to about 19 thousand dollars approximately.



The future of bitcoin

Although the price of Bitcoin has witnessed several crises and has moved between ups and downs a lot, it is mostly now that the currency is constantly on the rise, but we must also take into account that the previous history of the currency and its price fluctuation may give us a glimpse of what will happen in the future, as it should note also that cryptocurrencies are not recognized among the governments of the world, and many laws that govern their dealings within some countries may appear, and this causes many speculations about the future of the Bitcoin currency, and frauds, scams and hacking raise many doubts. About its impact on the price of Bitcoin, which is expected to cause its price to fall.


On the other hand, we find that the number of people looking for a unified international currency is increasing, thus making this cryptocurrency unique in this field, and there may be rules that control the price to ensure the stability and stability of the price of Bitcoin and the rest of the cryptocurrencies.

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