How Has Bitcoin Evolved in the Last 13 Years?

With this platform bitqt crypto is now selling like hot pancakes in the market. The recent years have witnessed a massive increment in this market, and it keeps moving on the higher side with every passing day. One crypto is Bitcoin, which shines high with many more approaches in life. You can find much more widely traded crypto that seemed to have made a massive buzz in the market. Bitcoin came in 2009, and so far, it has been 13 years to see the coin rule the crypto world. The last 13 years had witnessed too much rise and fall of the coin before it embarked on the market to be the most expensive one. This article will check how Bitcoin has evolved in the last 13 years.

The beginning and initial years 

Bitcoin is quickly sent to and from users via its network, and Blockchain validates it to complete the transaction. We can find investors of Bitcoin becoming a big mystery after one year of the currency. A farewell message came from Satoshi Nakamoto, who happens to be a mystery man. However, we still do not know about Satoshi’s disappearance from the market. The team led to many more chapters in the market. These developed an exciting tale for the currency in the market. 

The digital coin was called Genesis Block, which comprises 50 Bitcoins in the market. Also, many more coins got early contributions in 2010. It gained an excellent commercial transaction that helped many more programmers to commence the transaction using crypto in the market, coming along with the right purchase of two pizzas using 10K coins in LA. Today, the same coins could have given the young man around 300 M USD. Instead, he wasted his money procuring two pizzas worth 41 USD. Today, we have seen Bitcoin used for millions of transactions for massive amounts of money, and we can find crypto winning races in the market. The initial two years have gone trivial for Bitcoin. 

The middle years 

In December 2013, we saw the banks and financial institutions ban Bitcoin calling it a fraud. The top bosses of banks like JP Morgan called Bitcoin a big fraud, and they lived with this tag for around four years. In 2017, we saw these groups announce a complete ban on Bitcoin till people started exploring the potential of the cryptos, particularly Bitcoin. In 2021, we saw China cracking down on the Bitcoin miners despite getting the number from the halving process. The top groups, le Circle, Tala, and SDF (Stellar Development Foundation), came forward to network with other groups like Visa to announce the news about El Salvator. The country soon announced a law in their capital city to announce that Bitcoin is a legal tender in their nation. It shook the world and made them grow with fantastic space. Now, let us check what comes to our mind and find out things in this regard. 

The last two years 

Looking at the past two years, we have seen a good rise in Bitcoin in the market. It all started in December 2019 when the currency started picking up, and by 2020, Bitcoin had gained a decent surge in demand, entering the forties. From 20K USD to 40K USD in March 2020, the market witnessed a decent surge in the currency. It remained steady the said year, and many institutional investors were able to come forward to invest in the said currency. One such man was Elon Musk, the CEO of the electric cars known as Tesla. It started on a good note, and Bitcoin managed to gain fall by the end of May, going just half of its value. The same currency was in its sixties in the early times; however, by the end of May and June, it reached somewhere close to 30, making many people suffer. 

Wrapping up 

However, back in July and August, we saw the currency getting a decent surge, and many more people seemed to be coming along at a good pace. The money reached 70K USD in November 2021 after its constant rise in the past few months. However, the year 2022 did not impress the audience in a big way. It failed to come on the lower side, with the currency reaching the lowest of the low. By the end of June and July, the money was seen going 20K USD, which was the ever timeless value of the coin.