Bitcoin is the first cryptocurrency in the world. It is a system of transactions and peer to peer currency created by Satoshi Nakamoto and based on a decentralised public book. This was based on the consensus called blockchain that registers all the transactions. The cryptocurrency was used for the first time in 2009.
In July 2010, the bitcoin price was only 8 cents. Within a year, the new alternative currency had risen to $1 and was becoming an exciting prospect for the future. Mining was relatively easy, and people were making good money exchanges and even paying with it in some cases. Within six months, the currency had doubled again to $2. In December 2012 a healthy increase of $13 was recorded, but soon, the price was going to explode. Within four months until April 2013, the rate had increased to a whopping $266.
2013 was the decisive year for the currency. Large companies began to favour the acceptance of bitcoin and blockchain publicly became a favourite topic for Computer Science programs. Many people thought that Bitcoin had fulfilled its purpose and would now settle. But, the currency became even more popular, with the creation of bitcoin ATMs around the world. Other competitors began to flex their muscles at different angles of the market. The magic figure of $1000 was broken for the first time in January 2017, and since then it has increased four times until September. It’s really a remarkable achievement for a coin that was only worth 8 cents when it started. The future is exceptionally bright for Bitcoin, and it is never too late to invest in it, both short and long term.
The safest long term cryptocurrency investment is to HODL (keep your coins long term for a massive increase), but then there are the blockchain start ups that needs Angel Investors.
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