Taking A Look At Some of Bitcoin’s Most Memorable Moments
When Bitcoin was created, no one thought that it would reach the peak of today. During its inception years, it was mainly used on black markets such as Silk Road, but as time passed by, millions of people and companies figured that it has a lot of potential and that Bitcoin is superior to other payment methods.
So, people started investing in it and used it to make money or to buy products/services online, while many of the world’s most reputable brands integrated it into their system and started accepting Bitcoin payments.
With that being said, we wanted to take a look at some of the most memorable moments of this cryptocurrency. Let’s check them out.
Its Creation
Obviously, the first memorable Bitcoin moment is its creation. Bitcoin was created back in 2008 by none other than Satoshi Nakamoto, the most mysterious individual or a group of people in the world. After its creation, Satoshi made the first Bitcoin transfer to a cypherpunk Hal Finney, but the first official transaction was made in 2010 after a man in Jacksonville, Florida purchased pizza at Papa John’s.
2014 Peak and Raids
In early 2014, thousands of people started recognizing Bitcoin’s potential and the increased number of users allowed this cryptocurrency to rise in value. In January 2014, Bitcoin reached its highest value ever after it peaked at $713.
Shortly after that, several FBI raids in the USA caused a big portion of this cryptocurrency to be confiscated and that is why it plunged in value.
2017 Record-Breaking Value
While many people thought that the raids meant the end of Bitcoin, they were completely wrong. With the rise of reputable trading sites such as the Bitcoin Revolution official website. which are used by thousands of traders from all around the world. Bitcoin was able to get back on its feet and finally reach a stable state at the beginning of 2017.
But, that was not the end. After recording massive growth in interest, Bitcoin spiked in value and reached a then-record-breaking value of over $19,000 on December 27th 2017. But, since the market was overflown, it plunged and dropped 80% in its value in the next year.
2020 – A New Record
2020 was the year in which several indicators suggested that Bitcoin has the potential to rise again, which it did. In mid-December 2020, Bitcoin finally topped the 2017 record and reached a value of over $20,000.
Since this was uncharted territory, many experts thought that this would be its end, but they were wrong.
2021 – New Heights
There were quite a few memorable moments in 2021. The first one is the fact that Bitcoin managed to maintain its stability throughout the first month of January, but February was the month in which Bitcoin had one of its most mesmerizing moments. During the first week of February, Tesla announced that they invested $1.5 billion in Bitcoin.
Not only did many companies followed their steps, but the Tesla investment caused Bitcoin to break through $50,000 for the first time in its history.
The last memorable moment was the highest value that Bitcoin has reached so far. That happened on April 13th, when this cryptocurrency crossed $63,000 in value. The most interesting part is that experts think that Bitcoin can go as high as $100,000 by December 2021
Bitcoin’s Future
Now that we’ve covered some of its most memorable moments, it is worth taking a quick look at Bitcoin’s future. The fact of the matter is that its future is very shady and it is impossible to predict. That is due to the fact that while its acceptance rate by the public rises, many governments from all around the world still oppose Bitcoin.