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Thursday, 1 February 2018

History Of Bitcoin and Price Progression- part 2


Bitcoin expected to worth $25000 in 2018
In 2009, Bitcoin was launched at $0.0 cost. It was completely a new concept to humanity, just like it is today to billions of people the world over and probably its new to you too. In 2010, Bitcoin started gaining some value around $0.10, up to $ 0.31 in 2011.

But amazingly in 2012, there was an exponential growth in value to $1200. During this period, bitcoin is said to have created a billionaire and over 200 millionaires. A few people at this time began to realise real power and essence of digital cash and started using it, making it more demanded and more valuable.

People like Bill Gates and Richard Brandon and other powerful entrepreneurs, business muguls began to see the future in digital currency, and took deep interest in it. The value has fluctuated over the years but it has increased over time.

Today, bitcoin sells around over $10000 per coin in a short few years all the way from $0.10 in 2010, and this after it has taken some corrections in value from $19000 in December, 2017. January 2017, bitcoin traded at $1000. Imagine a huge jump today.
If you had invested $100 in bitcoin in 2010, you would have got around 1000 bitcoins. Today, your 1000 bitcoin would be worth $10.9M =N3.9 in Nigeria and 5.5 billion francs CFA. Inspite of price volatility, bitcoin continue to be the most valuable and sought after asset in the world with experts predicting a value of $25 k in 2018.

It is not difficult to see that this is achievable. This is a strong wake call for everyone still sitting on the fence. More and more people are realizing the transformational power of digital currency and are trading their fiat currency for it. I have talked more on bitcoin which is just an application of blockchain. A blockchain, originally is a continuously growing list of records, called blocks, which are linked and secured using cryptographs. Before now blockchain was meant to for digital currency only, but right now there are other applications of this technology.

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Coming up is DasCoin.

1 comment:

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