NEW YORK, NEW YORK, USA, April 4, 2022 /EINPresswire.com/ — While the financial authorities of world are fighting for the right to total regulation of cryptocurrencies, the positions of virtual assets are gradually strengthening around the world. Blockchain is becoming popular not only among stockbrokers, currency speculators, large businessmen, but also ordinary people who prefer to transfer their savings into cryptocoins. Blockchain is rapidly expanding into the realms of art, games, and memes. The pandemic, which has become a major test of economic opportunity, has demonstrated the reliability of bitcoin, forcing more attention to digital currencies and innovative technologies.
What is bitcoin
The first-born, who became the progenitor of cryptocurrencies, is a kind of Adam of virtual coins. It was created as an innovative replacement for fiat. Becoming a pioneer of the crypto-industrial sector, he provoked the emergence of many other crypto-coins around the world. This trend is sure to grow rapidly. This has shaken up the traditional financial system, causing many to reconsider their attitude to cash.
The main idea of bitcoin was the desire to give free access to this financial instrument to any person, regardless of his social status or place of residence. Immediately after the appearance, one new cryptocoin cost a little more than a dollar. Those who managed to acquire virtual assets immediately after their appearance, a year later turned into wealthy people without doing any business. After 12 years, the value of the first cryptocurrency exceeded $60,000.
The history of the appearance and promotion of Bitcoin
The creation of the world’s first peer-to-peer cryptocurrency was carried out by an unknown group of programmers under the pseudonym Satoshi Nakamoto. At that time, even the concept of electronic money did not exist. Bitcoin did not have huge popularity when it appeared. Everyone was very skeptical about virtual coins. To get bitcoin, you need to pay its cost, at the rate of real money, or perform a series of mathematical operations. Mining provides excellent income. Any expenses for the purchase of special equipment for a mining farm pay off almost instantly.
Peer-to-peer Bitcoin is its main advantage, since there is no control and dependence on one system. Unlike any fiat currency, it is not controlled by banks or other financial institutions. Cryptocurrencies are characterized by a complete lack of tracking during a transaction. The main power of cryptocurrency control is mining, in which each participant receives parts of a virtual asset as a reward for generating blocks, from which chains are then made up.
The developers came up with a special protection against a decrease in the cost of the cryptocurrency received from mining. The reward is halved every four years. Halving increases the interest in mining. With the help of halving, the deficit of cryptocurrencies does not decrease, remaining at a constantly high level, guaranteeing a high level of profitability. This financial instrument is well insured against inflation, so during a crisis it is the safest haven for storing capital.
The actual birth of bitcoin was caused by the severe crisis of 2008. The developers solved the problem of creating electronic assets that could be controlled only by their owners, and not by the Central Bank or other regulators of cash flows. The pandemic, which brought down the economies of many countries in 2020, has forced many to be more careful about investing in cryptocoins. Now the market has developed so much that you can exchange your cryptocurrency for other types of money. More details can be found at this link.
What does the expert community think about the future of Bitcoin?
Predictions are constantly appearing on the network, what will be the year 2022 for cryptocurrencies. People betting on crypto assets are very interested in the opinion of leading experts on this topic.
Max Keizer, the owner of the company and financial analyst, believes that bitcoin will soon break through the $100,000 mark. He does not rule out that BTC will trade at 400 thousand in the medium short term. The expert is known for believing in the rapid rise in the price of bitcoins from the very beginning. He claims that by the end of 2022, the price of cryptocurrencies will increase significantly.
Robert Kiyosaki, a writer and author of numerous books on entrepreneurship and get rich quick, predicts that investing in cryptocurrencies will become much more profitable than gold assets. He believes that the cost of a golden ounce may soon reach $3,000, and that Bitcoin will exceed $75,000. Therefore, it is much more profitable to keep assets in cryptocurrencies.
Adam Back, who is the CEO of Blockstreem and one of the crypto developers, suggests that in the next 5 years, the value of Bitcoin could approach the milestone of 300 thousand. As financial institutions issue more and more fiat money in a rapidly growing global economic problems, people prefer virtual assets. According to the expert, a golden age is coming for cryptocurrencies. Recently, other cryptocurrencies have begun to show themselves very strongly. For example, the Monero cryptocurrency is now one of the most promising, you can exchange btc to xmr by using exchanger.
According to the forecasts of Anthony Pompliano, the owner of Morgan Greek Digital, the value of virtual currencies in 2022 will be soaring. He runs a virtual asset management company and keeps most of his capital in crypto. The expert claims that bitcoin may exceed the bar of 100 thousand before the end of 2022. Today, large investors willingly invest in various blockchain projects, which indicates a company of trust in cryptocurrencies.
The billionaire owner Mark Yusko makes a very bold long-term forecast until 2030 regarding the growth in the value of cryptocurrencies. He suggests that the likely cost of bitcoins may exceed 400 thousand. This assumption is based on mathematical calculations that take into account the increase in the price of gold and publicly available crypto coins. He predicts the gradual displacement of fiat money by virtual coins. The use of blockchain technologies guarantees more security, reliability and maximum convenience, unlike the usual financial institutions.
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