Bitcoin price reached its highest of $41,000 i.e. Rs35,03,153.32 yesterday. Although today it’s a little bit low again. But this year, the bitcoin price graph is going upward constantly.
When was Bitcoin started?
The credit for bringing forward this digital currency goes to a person named Satoshi Nakamoto. People believe that in the year 2009, a group named Satoshi Nakamoto introduced Bitcoin to the world for the first time. However, the question of who they are and where they are is a mystery. It started in 2009 and has gained immense popularity within no time. Moreover, there is no government or bank control over this currency. It is used only in the digital world.
Bitcoin is the most valuable among cryptocurrencies
Cryptocurrency is a virtual currency, meaning you cannot see it. In simple words, you can call it a digital rupee. No bank issues cryptocurrency. Only those who issue it control it. It is used only in the digital world. At present, there are many types of virtual currencies present in the world along with Bitcoin. But among these, Bitcoin has the highest value. For some time now, the attraction of investors towards Bitcoin has increased rapidly. Bitcoin has also given strong returns to investors.
History of Bitcoin Price
The world’s most popular cryptocurrency Bitcoin has seen many bad times since the beginning of 2022. Notably, the price of the most popular cryptocurrency Bitcoin reached its all-time high of $ 69,000 (Rs 51.28 lakh) in November 2021. But since then its price has fallen by about Rs 29 lakh till January 2023. There was huge investment in cryptocurrencies in the year 2021 and the crypto market is expected to remain bright in the new year also. But at the end of the year 2021 and the beginning of the year 2022, there was a big earthquake in the crypto market and investors suffered huge losses. Again in this year 2023, it’s showing a rise with a few ups and downs.
Expect a big jump in the coming year 2024
Along with the rise of Bitcoin price, analysts have predicted it to touch the level of $98000 (Rs 73,50,000) in the coming time. For 2024, crypto experts say that it will again break the record and reach one lakh dollars i.e. about Rs 84 lakh. Its price is expected to reach $1,35,000 (Rs 1,01,25,000) by the end of the year 2024. Although it was also been expected in the year 2022.
High risk in the crypto business
This cryptocurrency is highly volatile and hence trading it is also very risky. For example, Bitcoin price rose to $42,000 in January 2021 and then fell to $30,000. Within a week it had increased again to $41,000.
For Bitcoin, you have an app through which you make transactions. Suppose your file gets deleted from the server or your password becomes wrong, then your money is lost forever. Recently there were reports that some people lost bitcoins worth lakhs because they did not have the password and forgot it.