The journey of Bitcoin: The bull run to $5800 and up!
bitcoin·@rahulbasu·
0.000 HBDThe journey of Bitcoin: The bull run to $5800 and up!
 Since the inception of bitcoin, we have seen it's immense success, right from the day where it was available for only a few dollars in 2010, all the way up to $5800! During the 2008 financial crisis, a mysterious man by the name Satoshi Nakamoto, had a vision to free the world fro the grasp of the central banks and liberate the entire world from them and give financial power back to the common man through the use of blockchain and distributed ledger technology. In 2008, a domain named bitcoin.org was registered, and that laid the first bricks to the multi billion dollar Bitcoin foundation, and sparked the first ever Blockchain revolution which is now on fire nowadays, with many large MNCs like Microsoft, Google, IBM, SAP, Accenture, Goldman Sachs, and so many more, trying to revolutionize the world with the help of blockchain. Satoshi was not only the founder of Bitcoin, he was the first person to show the world what the power of blockchain meant. only a handful of people, (estimated to be about 60-70) knew about blockchain that time! He released the whitepaper titled "Bitcoin: A peer to peer electronic cash system" which is an 8 page whitepaper with a robust vision which was easy to understand by the people, yet difficult to believe. __________________ Bitcoin was developed with something different in mind, it was never supposed to be used as a currency, but as an asset, just like people use gold to store value. Just see how its similar with gold: 1) Initially people had to mine gold; Bitcoin also needs to be mined 2) There is a fixed amount of gold in the world, same with bitcoin, 21 million Bitcoins 3) value of gold is increasing, bitcoin is also increasing -------------------- *So welcome to the era of Digital gold!* -------------- If we look at the history of gold, we can see even poor people had gold, who didn't realize the value of gold, and used it to purchase other commodities. In this era, even those who will not adopt bitcoins may see the same in future! **Let us look at the last 2 year 1week chart. where each candlestick represents a tie spread of 1 week.**  We can see that the value increased almost by 5 times and shows no signs of dropping!! But this journey was not always smooth, since both positive and negative news which affects the price by a massive level, and there comes the factors of novice investors, panic selling and panic buying as well. ----------------------- I dont know if its correct or not, and I am not a professional analyst as well, but looking at the chart, I feel that 50% of the people dont even know the basics of bitcoin, and how it works, and have blindly invested and day trading by looking at the charts and performance. Several high level financial people already gave verdict that Bitcoin is the best and the most high performing asset in the financial year '17. An estimated of 0.5% of the entire people in the world are aware of bitcoin, and very few people actually understood it and invested it. I would recommend investing in it after you know the true potential, so study about bitcoin a bit before investing. And since many people without the knowledge of how bitcoin works invested in it, we can see the prices of bitcoin fluctuating with news. *A positive news comes, the price goes up!* *A negative news comes, we see a crash* --------------------- **Bitcoin was already killed more than 100 times since it ever came into existence with various negative news of being banned, being declared as illegal, being used only in the dark web for illegal activities, for terrorist funding and so on.** **every time Bitcoin was killed, it crashed, then reached new All time highs!!** For reference, look at the recent example of "China ban" and Jp Morgan chase Ceo calling Bitcoin a Scam. It fell drastically to reach all time lows in few months, but just look how fast it recovered again. That defines the success of bitcoin, That defines what Bitcoin is capable of in future! If you hold bitcoin, feel proud to be an early adopter, and you will never regret in future...! 8)