Market

The Epical Rise Of Blockchain, Bitcoin And Cryptocurrency! for BITSTAMP:BTCUSD by VincePrince

Hello,

Welcome to this analysis about Blockchain, Bitcoin , And Cryptocurrency. In the past decades Blockchain, Bitcoin and Cryptocurrency established a paradigm and rise to the top in a faster, higher, and more accelerated manner since it was never seen before in human money history. In fact, as I already mentioned in a previous article Bitcoin is the most innovative and technologically advanced money form in history, it is due to the fact that it is scarce and can not be increased by will like it is the case with fiat money in its form we see today, even gold is not completely scarce because it is unknown how much of it can still be mined, for Bitcoin it is clear only 21 million can be mined. These developments come not from nowhere, in fact, the origins of Bitcoin and other cryptocurrencies as we know seem today have their roots back years before the first Bitcoin transaction was made by the famous Satoshi Nakamoto, all this came from smart people who made thoughts on how a decentralized, scalable and scarce money can be created to the astonishing developments we have seen till today, even whole countries adopting the technology as a legal tender. Therefore I looked at all the important developments for Blockchain, Bitcoin , and Cryptocurrency that were recorded till today and categorized them into three main periods.

THE TECHNOLOGICAL-INITIATION-DEVELOPMENT-PERIOD:
When looking into the history of Blockchain, Bitcoin , and Cryptocurrency it becomes clear that the first footsteps of this innovational technology were spotted in the 20th century, to be clear it was in 1979 the year in which Ralph Merkle published the Merkle-Tree in its P.h. D. thesis, it was the very first model of a blockchain which already provided an approach to public-key distribution and digital signatures, an epical moment that should lie grounds for the further developments following in past years. In the years following this event many important technological events and inventions took place such as hashcash which was the very first digital form of a proof-of-work conceptual technology, proof-of-work is the central process behind mining Bitcoin . In 2004 then Hal Finney came to the surface whom some describe as the secret hidden Satoshi Nakamoto and in fact this can be possible as Hal Finney already created a Non-Exchangeable Non-Fungible Token Exchange Dynamic with the proof-of-work concept implemented. Then just some years later in 2008 a mysterious Satoshi Nakamoto who can be a group, a person or a company, it is still unkown till today published the Bitcoin white paper. Only one year later the theory became reality and Bitcoin launched with the first transactions taking place, the framework of later exponential developments in Blockchain, Bitcoin , and Cryptocurrency.

INCREASED-PUBLIC-ATTENTION-PERIOD:
Since Bitcoin has firstly seen daylight in 2009 till some years later in 2011 Bitcoin was mainly used by computer nerds and early adopters who found the technology great. Even though many years in the fore have passed with the first technological developments it was still very early for Bitcoin and no public attention caught on however this should change in the coming years with the infamous Mt. Gox cryptocurrency exchange emerging and Bitcoin shooting from some dollars to over 1000 Usd in some months, such a rise in price action was extremely new and in this time Bitcoin was initially spotted by the public, many called it a bubble however following years should prove that this should be not the case. This time was also the period in which other cryptocurrencies besides Bitcoin launched into the space such as Ethereum emerging with its white paper published in 2013 and with the frontier network launching just two years later in 2015, from then on Ethereum moved to the top becoming second-largest cryptocurrency by market-cap besides Bitcoin . This was also the beginning of Cryptocurrency’s great astonishing bull-market that protracted till 2017, in which many Cryptocurrency projects launched and IPOs got unbelievable hype. Even to this point many institutions and the public still kept skeptical about the asset which later changed opinion and entered the market and as seen now the skepticism was not approved because Bitcoin formed several higher all-time-highs after it even recovering from the corona crash.

MAINSTREAM-ACCELERATION-PERIOD:

This is the period that began around the ending of the 2017 historical bull-market and is still holding on till now, even it can be said that Blockchain, Bitcoin and Cryptocurrency development is still early and that users coming in just cathing the starting mainstream adoption. Sure Bitcoin showed a heavy bearish crash after the 2017 bull-market however the technological developments still gone on in this phase even when many well-established tech-companies such as Google or Facebook banned Bitcoin , this did not changed the fact that the inherent value still increased and that Bitcoin managed to recover just in this phase, even the corona crash was not able to keep Bitcoin down on the long term and also the well-established tech-companies like Google or Facebook reversed and lifted the bans again to even implement new features such as Twitter implementing the Bitcoin Lightning Tipping feature. All these events drove the demand and realtime-price-action to the upside with Bitcoin reversing and recovering from the heavy corona crashes and making new highs. A new hype around NFTs created and institutional investors from classical payment providers like banks to car companies like Tesla moving into Bitcoin . Even the first country adopted Bitcoin and all these events are due to the fact that we are now in the mainstream-acceleration-phase which is likely to continue for the next time as Bitcoin and Cryptocurrency just began to catch mainstream attention.

In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, all the best!
“Great developments are the seed of fate deeds grow into destiny.”


Information provided is only educational and should not be used to take action in the markets.

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button