The Market research capitalization of this cryptocurrency is the largest in the crypto world. It is more than $2.23 trillion. And, the crypto holds a 48% share of the market.
Bitcoin is today’s most expensive and strongest asset and it is compared with gold even. What makes Bitcoin to be the gold of the cryptocurrency market?
Bitcoin was introduced to this world as the alternative digital currency to facilitate peer-to-peer exchanges and transfers without third-party interventions. Within these 13years, bitcoin had proven its motto of existence and established itself as the most liquid currency that has worldwide acceptance and can buy or sell assets, products, or services. The google searches for Bitcoin were the highest. This shows the popularity of Bitcoins all over the world.
VOLATILE BUT HIGH-POTENTIAL FOR HEAVY RETURNS
The cryptocurrency world is unpredictable. Within hours or days, the prices of particular cryptocurrencies can rise or directly fall on their face. Bitcoin is also a highly volatile asset, which means it has the potential to touch the sky, and of course, price fluctuations are major.
The price of Bitcoin in March 2020 was $5000, and by the end of March 2021, the price value of Bitcoin was raised to $30,000. In the fall of this year, it was touching the mark of $64,000. Bitcoin is the most trending buzzword in the investor’s world. Due to its high volatility, it is capable of reaping high potential returns.
Bitcoins are the most popular digital currency in the world of investments. At the same time, even laymen have Bitcoin in their normal vocabulary of investments. Today’s investment is incomplete without thinking at least once about bitcoin. The current trading volume of Bitcoin is 31.11 billion USD, and the Bitcoin Network transaction per day is 264,360. The market capitalization of Bitcoin is $391,607,362,744 currently. The approximate transaction of Bitcoin per hour is 10,987. The daily statistics of Bitcoin show why Bitcoin is the largest and trending cryptocurrency.
Due to the limited supply of 21 million, Bitcoin is a finite cryptocurrency. From twenty-one million, 19.9 million bitcoins are already in circulation. The constant demand for Bitcoin among investors will lead to a continuous price rise. As the price is expected to increase, bitcoin is believed to protect people from financial inflation.
However, the prices of Bitcoins are thoroughly affected by the macroeconomic environment. With the highest price value of $64,000 in November 2022, the price of Bitcoin has significantly fallen to $21,000 in July 2022. The main reasons for the steep decline in the pierce value of the World’s largest cryptocurrency were the macroeconomic environment of wars and global crisis. Market Conditions and economic and political growth are also the other factors that determine the value of Bitcoin and other cryptocurrencies.
The moto of bitcoin’s creator was to make an alternative payment network without a central control point. And after years, it has established itself as the first currency used for normal transactions and exchanges to buy goods and avail services. Multinational companies such as Tesla, Nike, Pay pal, etc., have started using Bitcoins as their transaction currency. The most astonishing fun fact regarding Bitcoin is the first ever Bitcoin transaction was made for pizzas in 2016.
Bitcoin ATMs are the latest addition in the crypto world that connects cryptos with fiat. ATMs are used to avail cash in fiat currencies. Now we have Bitcoin ATMs all across the globe. These ATMs have made it easier to sell and purchase Bitcoins. There are a total of 14,915 Bitcoins ATMs worldwide. The United States has 11,386 Bitcoin ATMs. The global share of North America alone is 89.4%. Click here.
The Bottom Line
Bitcoins are always the first choice of Investors due to their humongous glory. There are future assumptions of Bitcoin facing tough competition from the second largest cryptocurrency, Ethereum. But, as per most experts, bitcoin, known to be the gold of cryptocurrency is considered to be the most beneficial long time investment. To start investing in Bitcoin.