Could Bitcoin be the New Revolutionary Technology
Cryptocurrency Broker – Luke
It was a four-year period of return: Bitcoin (BTC) was developed in 2009 and hit its first high in 2013 ($1,165), followed by a $20k milestone in 2017. Four years later and the original cryptocurrency has crossed $58k at its strongest point to date. Even so, Bitcoin trading is not characterised by its valuation, nor is it described by the alleged bubble generated.
What Bitcoin signifies is both an invention and a shift in how we feel about money personally, and the potential introduction of new technical software in the field of finance in general.
The idea that Bitcoin is "just a bubble" could be seen as an incorrect interpretation as this would be the networks’ ‘Forth’. Bitcoin, at heart, is simply data. It has a limited supply of 21 million, which is divisible to its sub-units of Satoshi’s (0.00000001). Due to the protocol, the supply is reduced by half on average every four years. One day, its stock will be exhausted, causing shortages. As demonstrated in the four-year pattern, the criteria by which Bitcoin tries to adjust its "value" are mostly influenced by inputs outside its protocol.
At one point, the nature of its price fluctuations is expected to slow and reduce, therefore rise gradually by default due to the changes in supply. Interest in the market has brought buying Bitcoin to prominence over the last four years, but the extent in which its consumers and businesses embrace its use-value continue to push it forward. Met with legal and regulatory hurdles, Bitcoin and cryptoassets have developed a whole new ecosystem.
Throughout its ups and downs, the Bitcoin Network has largely stayed dedicated to a transparent future. While the true effect of recent trends in the systemic acceptance of crypto remains to be seen, it can be said that the acceleration of new advances in blockchain and cryptocurrencies are both directed at the same thing, opening the market to everyone.