Tracking The Growth Of Bitcoins Over The Years: How Profitable Are They?

tracking growth of bitcoin price profitability btc

Within a very short time, Bitcoin has been able to gain a lot of popularity over the entire world. Bitcoin has become a popular term that pushes the limits on how people view global currencies. Bitcoin is a crypto currency that can be used in making electronic payments and it cannot be used like physical money. As this digital coin is gaining more popularity, more people are investing in bitcoins through trading systems like the bitcoin era website

When And Why Was Bitcoin Created? 

Bitcoin was the first decentralized currency that was created in the year 2009 to run on a Blockchain technology. It was first mentioned in a white paper by some stranger who used the pen name, Satoshi Nakamoto. Bitcoin was introduced with the ability to conduct transactions without any interference of any financial institution, not even the government. Bitcoins mainly relied on digital signatures and digital coins and it was not government issued fiat currencies. All the transactions with bitcoins were kept in a ledger and it could be accessed by the public ensuring transparency. 

The individuals who volunteer the computing power to the network to keep the trading with bitcoins running were known as crypto miners. The BTC miners play a big role in setting up the protocols that are adapted to the blockchain network. This allows the BTC miners to play the role of the central bank looking out for the best interest of the crypto currency as a collective. 

The decentralized as well as blockchain protocols of bitcoins require every node in order to verify a transaction. As these computers or systems are spread all across the globe and are run by various individuals, they are considered very difficult to be hacked or corrupted. This ensures that the bitcoins are secured from any kind of cyber threats and the investors’ money remains safe. 

How Bitcoins Gained So Much Popularity Over The Years 

Bitcoin is a digital currency as well as a decentralized currency that can be used for making electronic payments for purchasing goods and services. As the currency is decentralized, it is neither affected by inflation nor by deflation or reflation. It is also considered to be a secured transaction system and for that reason it has continuously been able to capture public interest since BTC's creation. 

The value of bitcoin changes every minute and so with proper tracking, an investor can be able to gain a lot from investing in bitcoins. In the year 2017, bitcoins managed to jump 740% in five months and its value reached as high as $19,807. It's 2021 price has exploded to three times that price as of now!

Growth Of Bitcoin 

After the global meltdown in the year 2008, people started losing faith in banks. Satoshi Nakamoto took this advantage and introduced this decentralized crypto currency in the year 2009. But Bitcoin started gaining popularity from the year 2011 and just because of its decentralized feature, millions of people started investing in bitcoins. Throughout all these years the value of bitcoins has gone through ups and downs, but yet it is the most popular crypto currency in the present world.

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