Bitcoin is a hot topic that is hyped all over the internet.

Even after the ban on cryptocurrency ads, there is no sign that the popularity of bitcoin will dwindle this year. For starters, bitcoin refers to a decentralised digital currency that is not regulated by a centralised authority such as a bank or government. In case you did not know, Bitcoin was started back in 2008 by a pseudonymous guy called Satoshi Nakamoto. Up to this data we don’t know if Nakamoto is a real person or just a name that refers to many developers.

However, it was on 3rd January 2009 that Bitcoin was officially born when its original owner became the first person to mine 50 units. With that said, it is fair to note that Bitcoin did not have much value when it was starting. There was a user going by the name °SmokeTooMuch° who auctioned 10 BTC for only 50$. Believe it or not he was not able to find a buyer.

If a buyer knew the value of Bitcoin would rise exponentially to its current price and bought the units, he would have been a multi-millionaire by now Hal Finney was the first person to download the Bitcoin software when it first came out and got 10 bitcoins from Satoshi Nakamoto. This was back in 12th January 2009. Other people who came out to support Bitcoin when it was still new include Wei Dai and Nick Szabo.

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Overtime, the popularity of Bitcoin started to rise and the first real transaction happened on 22nd May 2010 when 10 BTC were used to purchase two pizzas from Papa John’s. By the time Bitcoin finished 2 years of existence, it was at the same level of value as the green buck. Two years down the line and Bitcoin was a thousand times more valuable than the green buck. Bitcoin has clocked over 9.5 years and has gained a lot of fans in recent years albeit with some controversy surrounding its existence.

Bitcoin facts

  • It has never been confirmed what is the real identity of Bitcoin creator. But whoever the owner is, he or she is a very rich person as it is estimated Nakamoto mined one million Bitcoins during its early days.
  • Laszlo Hanyecz was the first person to make a transaction using bitcoins as he bought pizza with 10000 bitcoins. Bitcoins is still used to buy commodities up to this data

Check This: 10 Interesting Facts About Bitcoin That You Must Know

Bitcoin present

To this date, 2017 remains the best year yet for Bitcoin.

Bitcoin started the third month of 2017 by surpassing the $1000 mark. The last time Bitcoin achieved this was back in 2013. Bitcoin investors were delighted as more and more people started to take serious note. As the year went by, Bitcoin value rose from $3000 in May to $4400 come September 2017.

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By November 2017, Bitcoin value reached a new high of $11000 before breaking that record again with an all time high of $19700 in December 2017. If you began 2017 by investing in Bitcoins come December 2017 you would have been smiling all the way to the bank. Bitcoin current value sits above $8000 and there is optimism for the future.

Bitcoin prediction 2018

It is never too late to invest in bitcoin. Bitcoin prediction shows that 2018 could be the year that this cryptocurrency reaches a new high in case transaction volumes increase. Although the price of Bitcoin had been falling rapidly since the start of the year, it experienced a 16 percent increase in the past week after Bitcoin value rose from $6900 to $8000.

Check ThisBitcoin Hits $16K What’s Next Prediction?

This was attributed to massive increase in buy volumes in leading cryptocurrency exchanges. So what do experts think about Bitcoin prediction 2018 Tom Lee who is a renowned Wall Street analyst predicts that Bitcoin will achieve an all time new high of $250,000 come the end of the year 2018.

Bitcoin prediction 2022

Last week, billionaire venture capitalist Tim Draper predicted that the price of Bitcoin would reach $250,000 come 2022. That explains why many investors did not cash out in December 2017 when the value of Bitcoin was at $20,000. Investors are in it for the long term. If Tim Draper prediction was to be achieved, it means the total market valuation of bitcoin would reach $ 5 trillion.

Let us know your thoughts in the comment section below on bitcoin’s future.

 

Arpit is such a techno fanatic since his childhood. He has always been into the field of technology using his curiosity as the tool to research deeper into this area which may grow as vast as the universe. FossBeta has been his first love as it has been a medium for him to portray himself, his passion and the enthusiasm about technology, as a whole. Not only a fanatic, he is a change-maker when it comes to this vast sphere.