- BTC is trading with 81 million wallets now in existence.
- BTC was indeed a key representative of cryptocurrencies for 14 years.
Bitcoin, the first cryptocurrency in the world was established in 2008. At the time, the majority of people were unaware of it, took it for a joke, and things have changed significantly since then.
And the price of Bitcoin has been oscillating significantly since the beginning, rising to over $70,000 in November 2021. It has succeeded in fulfilling the promises to be adopted globally as a usable, legal cryptocurrency, with 81 million wallets now in existence.
Life Cycle of Bitcoin (BTC)
Early BTC followers believed the currency would bring them liberty, security, and most crucially financial independence. However, they soon realized that this was not a guarantee and that their transactions could be easily tracked. And it is now the best strategy to protect against inflation.
Bitcoin has experienced ups and downs throughout its 14-year history, but its yearly growth has gotten stronger.
The cryptocurrency market has grown stronger, and when a bear is encountered, participants reconstruct the coins using the excitement from prior bull runs. Instead of attempting to bring a new inflated token into the oversaturated market, the focus should be on figuring out how to offer the benefits that Bitcoin and blockchain were designed to provide.
This includes encouraging financial independence by safeguarding privacy, enforcing fair taxation, and providing balanced regulatory protection. No significant token or cryptocurrency today, including Bitcoin, genuinely provides this.
For these 14 years, Bitcoin has been a key player in the cryptocurrency industry as a representation of whole market. And each change in the BTC market has a significant impact on other coin markets.
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