Bitcoin is a digital currency created in January 2009 following the housing market crash. It follows the ideas set out in a whitepaper by the mysterious and pseudonymous Satoshi Nakamoto.1 The identity of the person or persons who created the technology is still a mystery. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.
As you can see, cryptocurrencies have great potential to dominate the financial market. Bitcoin made its debut on the Mt. Gox on August 17, 2010 with a price tag of $ 0.063. Until October, the price remained virtually unchanged, and soon began to rise and stabilized at USD 1 in April, after which the increase became even more dynamic, so that on June 8, 2011 the price reached USD 31.91 per BTC.
There have been a lot of such peaks and declines, but in the long term the price always rises – limited supply, the deflation function means that today the price for 1 whole Bitcoin is around $ 10 800 – as of 09/17/2020, and it is only 50% of its the highest price it has reached
Other cryptocurrencies – “Altcoins”
Bitcoin is not the only cryptocurrency. There are hundreds of cryptocurrencies, but only a little has value and potential.