Bitcoin Has Achieved A New Milestone, Read To Find Out

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20 Jan 2023
5 min read

News Synopsis

Latest Updated on 20 January 2023

After the so-called Genesis Block was mined bitcoin was formally launched on January 3rd, 2003.

Though the bitcoin whitepaper was published on October 28, 2008, under the pseudonym Satoshi Nakamoto many believe that the cryptocurrency's mint date of January 3, 2009, marks the day it was born.

According to many reports, bitcoin enjoyed a record year in 2021 despite yet another ban from China more regulatory scrutiny, and extreme volatility. The last year has seen a number of firsts for Bitcoin including all-time highs in its price and hash rate among other things. It also saw the start of bitcoin's widespread adoption.

Through the course of 2021, institutional and Retail Investors helped to increase investor confidence in bitcoin. Bitcoin has grown to be an appropriate standard as a peer-to-peer Financial System and is now the most valuable Cryptocurrency by Market Value. Its supporters regard it as a Viable Currency, Digital Gold, and protection against inflation.

Note though that some people continue to say that bitcoin is a dangerous and speculative asset. The broad consensus among experts is to invest no more than you can afford to lose.

Here are eight significant Bitcoin events from the previous year.

Last Updated on 13 September 2021

Reports have emerged a cryptocurrency research team at Standard Chartered has predicted that Bitcoin's worth will reach an all-time high of a value of $100,000 and in the long run, might even reach $175,000. Standard Chartered has also researched Ethereum, another Crypto Asset Platform, only second to bitcoin, but it shall not be as valuable as Bitcoin. 

The future of payment and banking is cashless and digital, although Bitcoin is not the standard way of payment yet it is somehow strengthening a hold over the market and is winning the trust of users significantly. According to reports, by early 2022, Bitcoin will be valued at $100,000. Statistically speaking, on Tuesday, Bitcoin was at $46,024 in the European trading market after remaining at a four-month high of more than $52,000 on the previous Monday while Ethereum suffered losses valued at $3,366.

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