Cryptocurrency is the future money and investment option because it allows users to transfer money without the use of intermediary institutions such as banks. Cryptocurrency is also known as virtual money. The technology that regulates the circulation of cryptocurrency is Blockchain. Cryptocurrency, also known as digital money, has no central monetary authority and operates autonomously.
The decentralized network of cryptocurrencies has attracted investors across the world to put their money in and reap great profits. There has been so much revolution in cryptocurrency over time. Investors from all over the world are using platforms like Bitcoin Revolution to ensure their money stays in safely for a chosen time duration. Anyone can invest in Bitcoin or any other cryptocurrency using the platform and build good profit. Still, as a new user before investing in Bitcoin, it is vital to learn a little more about the Bitcoin revolution, cryptocurrency, the benefits of investing in it, and how to invest.
Bitcoin Revolution:
One of the cutting-edge platforms that allow people to invest in digital money safely, easily, and securely. Bitcoin Revolution ensures that its users make more profit with every investment. Users can easily track their investments and get notifications of any change to cover the risk. Users can invest in cryptocurrencies such as Zcash, Bitcoin, and Ethereum on this platform.
Anyone who is interested in investment can use this platform. It does not require any kind of expertise or pre-learning. In fact, Bitcoin Revolution can be programmed to take over to do the transaction on behalf of its users. This programming can be done by automating the settings, which allows the software to take all the major decisions on behalf of the user and earn a good profit by anticipating the market trend.
Bitcoin, the world’s first and largest digital currency, is also referred to as a cryptocurrency. This digital currency, which was created in 2009 by an unknown person using the alias Satoshi Nakamoto, reached the $1 mark for the first time on February 9, 2011.
Bitcoin rocketed from its humble beginnings to an all-time high of $48,226.25 on 9 February this year, delivering a mind-boggling return of 48,22,525 percent in the process. This means that a ten-year investment of 45.53 rupees (value of Re 1 against a dollar on 9 February 2011) in bitcoin would have grown to 35.13 lakh rupees today (value of rupee taken as 72.86 on 9 February 2021).
The Sensex rose 191.76 percent in absolute terms during the same period, from 17,592.77 to 51,329.08, according to BSE data. Goldprice.org data shows that spot gold prices in international markets have returned 35% after rising from $1,364 to $1,841. In fact, Bitcoin was the best performing asset class over the last decade.
Bitcoin broke through the $1,000 barrier for the first time in November 2013 but had fallen to below $350 by April 2014. It took bitcoin 4 years to surpass the $5,000 mark in September 2017, and it will surpass the $20,000 mark in December 2020.
The bitcoin market and investors appear to be maturing, according to a recent report by the US-based ARK Investment Management LLC. In its report titled ‘Big Ideas 2021,’ the fund house stated that as bitcoin gains trust, some companies are considering it as cash on their balance sheets. “ARK estimates that the price of bitcoin would increase by approximately $40,000 if all S & P 500 companies allocated 1% of their cash to bitcoin,” it added. The report was released at a time when bitcoin prices were hovering around $30,000 per coin.
Revolution In Bitcoin
The cryptocurrency market capitalization has recently surpassed $1 trillion, owing to the rise of Bitcoin. Bitcoin, in particular, has been on a tear for quite some time and accounts for roughly 69 percent of total market value.
Six months ago, the price of one Bitcoin was ~₹6,00,000, and today it is worth ~₹25,00,000, representing a 400% increase in price. Ether, the second-largest cryptocurrency by market capitalization, has reached a new high of over 100,000 and has increased in value by over 1,000% in a year.
Here are five reasons why Bitcoin prices are rising:
- Institutional Adoption:
Cryptocurrency is becoming increasingly popular among private companies.
- PayPal & Cryptocurrencies
PayPal launched a crypto buy/sell feature, further to allow crypto transactions.
- Acceptance from the Centre
Global governments are working towards creating their own digital currency.
- Bitcoin Halving Driven Scarcity
The halving of Bitcoin and the scarcity of the currency in circulation has resulted in high demand.
- Public Access is Simple
Crypto platforms like CoinSwitch Kuber, Bitcoin Revolution, Bitcoin Circuit, and others are making crypto investing more accessible.
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