The very first cryptocurrency was launched in 2009 and that was bitcoin. Nobody knew that it will be the new trendsetter in the future. People have always been under the threads of trends and these trends kept on changing with time. But do you think that the latest trend of bitcoin would ever change?
People have always been followers of the trend. By trend here I mean the hip or something popular that everyone then follows. A trend can be anything. It can be anything related to politics, entertainment, or social media. There was a time when there was a trend of the internet and that made people fanatical. It created attraction, confusion, and hostility. The email trend shifted to the social media gates and everyone has stuck to it. Then this trend shifted and today each one of you wants to master the technology.
Why did the trend shift to bitcoin?
It was not easy for people to understand the benefits of bitcoins when they came to know that it can be life-changing. The founder of bitcoin launched it with the vision to make the world digitalized. The trend of digitalization with time caused it to be invented. The Crypto world is more than holding coins or trading them. Rather, a single coin can hold a huge amount and that is what makes people crazy about it.
At the time when it was launched, people never took it seriously and bitcoin was just used to reward. There were no concepts of trading until 2010 the very first transaction was made. Bitcoin drew from the three major communities that include the community of original investors, the blockchain technology aficionados, and the speculators. With time things and features were enhanced and bitcoin was the large diverse community that it is today.
The status of bitcoin during a pandemic
The usefulness came when the pandemic strikes this year. Though before the pandemic world was digitalized but the real status came out when there was no other means and bitcoin was the only rescue at that time. The people who never used this virtual currency were also into it. This was major because of the transactions carried out. People were grounded at homes with no other means to buy things and make transactions. Therefore, the real use of bitcoin in these 12 years came out during the COVID-19 pandemic.
Bitcoin vs other assets
This world is now gathering to the digitalization trend and that is why the hype today is all about bitcoin. It has encapsulated the world and most people are into it. The crypto world has been so diversified that today bitcoin can even replace gold. This means it has become so worthwhile as compared to other assets. It can never have hyperinflation unlike that of the fiat currency. It has millions of bitcoins to mine and plenty of them are in existence. The allure of investing in bitcoin is further explained by the large companies accepting it as means to payment method.
Is it worth it?
The question now comes whether it is worthy to invest in the crypto world. The trend has shifted and especially after the pandemic more people are into it. The pandemic somehow became a means to add up more people into the crypto world. It has become so important that today it is considered the liquid gold of the world. It has gained a class of legitimate assets because of the world-wide acceptance it has.
Bitcoin has taken up the world because it is now widely traded on various platforms such as the bitcoin circuit. These bots assist people in trading efficiently and earning loads of amounts. It has become a daily thread to search for bitcoin prices so that a good trade is developed. Other than trading people buy and hold bitcoins as well. It is the latest lean and the world is excited about it!