Bitcoin the ups and downs of the famous cryptocurrency – how to catch a profitable course

Bitcoin the ups and downs of the famous cryptocurrency – how to catch a profitable course

Any popular thing in the human world experienced peaks of fame and relevance and descended into oblivion. A vivid example of this is the currency. Some historians are of the opinion that their hesitation is a reflection of the life of our civilization.

Subject to growth and decline, modern forms of money called cryptocurrencies. One of the – Bitcoin – is used in many countries as a common means of payment. She appeared recently, but in her so far short but amazing story, she managed to appear in all the world media thanks to her unprecedented ups and the same sharp drops.

First success

Immediately after its creation, a person named Satoshi Nakamoto bitcoins was very cheap: about 1500 units for one dollar. In calculating their cost, the price per kilowatt/hour of electricity in the USA consumed by the processor of the creator of the system was used at all.

However, in May 2010, the long-awaited surge came. It was then that one of the visitors of the famous Bitcointalk forum under the nickname Laszlo posted a message saying that he would buy 2 pizzas for 10,000 bitcoins. It would seem an innocent joke, but the results exceeded all expectations if any. In early August, 10 thousand BTC traded at a cost of 600 dollars.

Laszlo himself did not expect this and soon withdrew his offer, since he was not so financially secure to maintain it.

Along with Washington

In February 2011, the whole world spread around the news, which inspired all fans of cryptocurrency. On the MtGox exchange, specially created for virtual trading, Bitcoin began to trade on a par with the dollar. This, as well as a quick message that one of the users is ready to sell his car for virtual currency, has increased the popularity of the resource and Internet money in general.

First fall and rebirth

While bitcoin was in its infancy, advanced users played with it, major problems avoided it. However, in 2012, as they entered the “adult” world, ever greater leaps began to arise. For example, on June 9, the cost of one BTC decreased from $ 29 to $ 17: the Internet currency is not financially supported, its value is not supported by anything, therefore such changes are understandable.

But the real horror Internet users experienced on June 19. On this day, the largest hacker attack on MtGox was carried out. Attackers entered the resource under the guise of one of the administrators and put up for sale thousands of bitcoins at very low prices. As a result of such “dumping”, the price of one BTC fell to a cent.

At the end of 2012, the currency spent in achieving old positions and ensuring user interest. By February 2013, everything had leveled off – Bitcoin was worth $ 31, and on April 1 reached unprecedented heights – a cost of $ 100. A day later, a record was set – $ 266 for one virtual coin. However, bitcoiners did not celebrate the victory for long and rejoiced in their own savings: a week later, the rate fell 4 times to $ 65 per unit.

It would seem that the Internet currency will reach its former positions for a very long time: many users believed in it, supported by analytical articles in authoritative publications. However, by November, BTC was already worth 3 hundred “evergreens”. This was aided by a couple of scandals related to fraudulent fraud of the owners of online stores that used bitcoins. Such fame provided user interest and pushed the currency to grow. After a couple of weeks, the course reached unprecedented heights – 1100 cu for BTC.

Such successes forced the power structures that had been silent before that to speak. This did not bring any benefit to the virtual system: the Chinese authorities strongly “recommended” their companies to abandon this type of electronic currency, as a result of which the cost of bitcoin sharply decreased almost twice. The European Union decided to scare the joyful Internet users: the local financial institutions warned that the cryptocurrency rate could suddenly drop to zero, investors would lose funds that no one would restore. After that, the price of BTC fell to $ 400 per unit.

However, by mid-2014, the situation began to change again. Threats from the powerful have subsided, which has increased user interest in online money. By the summer of 2014, one bitcoin was trading at a cost of 650 “evergreens.” After that, there were still many roller coasters, and already from the end of the 15th year the rate began to grow continuously and today is $ 1800 for one Internet coin.

What is the reason for the popularity and such interest? The fact is that many bitcoin projects have been launched, which receive funding not from amateurs, but from professional venture funds where experienced financial analysts work. They verify each of their actions to the smallest detail, therefore, stockbrokers have become more confident in their actions on currency exchanges. In addition, the virtual system has received new levels of protection against hacker attacks. Now it’s much harder for attackers to steal account passwords and get rich.

Further developments will show history. And no one doubts that she will have this virtual money.

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