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Bitcoin's Achievements In Its 10 Years Of Existence

The introduction of Bitcoin, which is the first cryptocurrency the world will ever know into the financial market ten years ago, opened a whole new industry, which has gradually become a multi-billion dollars enterprise and a storm that has shaken the very root of the world’s financial market.
Although some of the major stakeholders on Wall Street have not been supportive of the new industry, Bitcoin and the new cryptocurrency market have in the past ten years established themselves as a major force in the economy of not only the United States but most developed nations and also some of the underdeveloped ones too.
The fortunes of Bitcoin, like other major markets, have experienced both its sweet and not so sweet moments. The coin peaked late last year when it moved well above $19,000, a situation that attracted quite a lot of investors, many of whom were interested in only the profit and not in the market itself.
The fortune of Bitcoin took a nosedive this year, traders and operators were helpless as they watch the value of Bitcoin drop by almost 70%, other major franchise like Ethereum and the likes also dropped by nearly 80%, causing panic and uncertainties, as most traders lost confidence in the market, while others count their losses.
The not so good experience of investors during this period opened their eyes to the realization that the market is volatile and needs proper education before embarking on any major investment. But the situation is gradually changing, investors confidence are building progressively, and the market is gradually picking up, especially during the closing period of the year.
Bitcoin and the other major coins also benefited a great deal from the economy war going on right now in the world. The sanctions imposed by the Trump administration on countries like Turkey and Iran which nearly crippled their economy and turn their currencies into a worthless piece of paper, made most citizens of the countries turn towards Bitcoin and other coins for survival. Some of the citizens were even urging the government to legalize the use of Bitcoin, to bypass the domineering nature of the USD and remain relevant in the world economy.
Like every other institution, Bitcoin and the Cryptocurrency market cannot be said to be perfect, but one thing that is certain is that the industry is getting bigger and better by the day and is ready to stay and fight for its rightful place in the world economy.
 

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