The cryptocurrency industry has been around for more than decade, which compared to other online trades or instruments is not that much. Still, the cryptocurrency industry has managed to gain so much success and progress that it is currently all over the news and headlines. If you wish to know about cryptocurrencies and more importantly, Bitcoin (BTC), then you do not have to go to the cryptocurrency news section.
Instead, you just need to access the homepage of any online news forum or a prominent news channel such as Fox News or CNBC and there, you will find Bitcoin (BTC) on the front page. This is because Bitcoin (BTC) has managed to gain a huge amount of adoption and recognition on the mainstream platform in the past couple of years.
Beginning of Bitcoin (BTC)
Bitcoin (BTC) is the digital-asset that gave birth to the cryptocurrency industry. So when we talk about the initial struggles of Bitcoin (BTC), we are indirectly talking about the cryptocurrency industry. Back in 2009, when Bitcoin (BTC) was launched, it was launched with the ideology of providing people with a medium that was decentralized.
A platform where people did not have to share their personal information that they were always skeptical about revealing to banks or financial institutions. But they still had to do it because they had no alternative for it. When Bitcoin (BTC) launched for the first time, it did not even have a worth of a single penny and the only way to acquire it was to mine.
The 2017 Bitcoin (BTC) Rally
Although the cryptocurrency was greatly opposed by the financial institutions and major investment bodies, yet it managed to survive through all the hard times and negative feedbacks. It was not until 2017 when the digital asset started gathering a lot of attention from the investment community that saw no involvement from the financial institutions end.
The investors from all over the internet started rallying towards the digital asset and towards the end of 2017, Bitcoin (BTC) hit its all-time high of 2017 that was around $19k per BTC. Just when the crypto-community start dreaming higher with the Bitcoin’s promising performance, its price took the worst plunge of the entire crypto-history. At that time, the price of Bitcoin (BTC) saw itself dropping from $19k mark to all the way down to below $5k per BTC mark.
The Year 2020 & 2021 for Bitcoin (BTC)
When the Bitcoin (BTC) prices plunged to the very bottom in 2017, the entire online cryptocurrency universe pronounced it “Dead”. This was not the only time when the Bitcoin (BTC) was pronounced dead by the crypto-verse. Since 2010, Bitcoin (BTC) has been pronounced dead 390 times but still it has managed to gain so much success.
Although Bitcoin (BTC) managed to disappoint majority of the Bitcoin (BTC) community, yet it managed to gain the attention of financial institutions. In the year 2020, when the entire world found itself facing the worst time of the century due to the pandemic, crypto-industry was the platform that kept things under control for the global economy. This was the time when the entire world realized the importance of the cryptocurrencies and Bitcoin (BTC) in the global economy.
Towards the end of the year 2020, Bitcoin (BTC) gained enormous mainstream adoption and hit all-time highs of almost $24k per BTC. Bitcoin (BTC) has managed to achieve the same in the running year as it managed to hit its all-time high of $41k in 2021.
Future of Bitcoin (BTC)
It was just last week when BTC had hit its all-time high of $41k per BTC and then its price took a dip all the way down to $30k per BTC before rebounding to $34k per BTC and becoming stable.
According to the recent crypto price analysis report, Bitcoin (BTC) now has mixed reviews from the crypto-investors. Half the cryptocurrency investors believe that the current behavior of BTC was expected as the asset’s price correct was due. Then BTC will again start showing a bullish growth towards its price.
On the other hand, half of the investors believe that BTC will remain bearish and its prices will go all the way down to $20k per BTC by the end of this month.