Jacques “Dinero” Doby
Bitcoin, the biggest digital currency, is trading around $9,700 – 10,000, and has posted more than phenomenal gains since 2010 when it was trading around only 10 cents. Price Chart
In 2017, Bitcoin managed to pump above $1,000. By the second quarter of that year, it had done more than just double, Euphoria was unleashed. By quarter four, it was sitting around $14,000 after falling from a high $19,000. But as quickly as it pumped up, it fell even quicker. Before the hype, in the beginning, it blossomed after the result of a financial crisis, Bitcoin arises to bypass the governments and banks. It was slow to catch on, slandered by a number of scandals. It started out being used highly for fraud and scams which turned a way a lot of people and caused regulatory scrutiny. Once the (Scams & Arrests) mainstream audience gained awareness of its true value, it proved to be the best-performing asset of the past decade.
A lot of the people who were able to get in early stayed faithful, as they watched it make its way through multiple bull and bear cycles unmatched by anything else over the last 10 years.
During an interview with Donnita Jackson, an employee for the DC fire and ems department, she said “I wish I would have invested in it earlier, I might be rich today.”
In 2018, Bitcoin could barely hold up over $3,000. It wouldn’t be until the summer of 2019 when we would see the asset rally back and recover a price of up to $14,000.
Bitcoins’ performance in the past decade, even with its huge pump and crash back down, leaves all others in its trail. It’s been a massive turn of events for those who held the asset through its ups and downs, even as it continues to provide hope for getting rich quick tactics. For some that are holding the asset, the fantasy of continually hitting a big payday still helps to keep Bitcoin’s momentum moving.
Projections for the next decade are in. The decade we’re starting this year will be one where mass adoption is sure to blossom (Price Predicitions). Companies like Starbucks are an example of bitcoin being adopted with their plans to release projects allowing customers to purchase their products using cryptocurrency.
During an interview with Ricky Barnes, a student at Delaware State University, he said, “I may have missed the last few years of investing because I was younger and did not understand how to, but I’ll definitely be parking my cash somewhere starting this year.” A new report, found by Yahoo Finance, shows that millennials prefer Grayscale’s Bitcoin trust than Netflix stock. One interesting finding is that millennials have more of their money in Grayscale’s Bitcoin trust than they do in stocks such as Microsoft, Walt Disney, Alibaba Group and Netflix.
In another interview with Thomas Felder, a former students at Delaware State University, he stated that “Blockchain technology is not just an investment, it’s the change necessary for our economy to flourish”.
The Blockchain, first brought to our attention by bitcoin, was created to be a decentralized peer-to-peer money transfer system. Today, Governments across the globe are realizing the benefits of the technology behind Bitcoin. From China to Dubai, many countries are looking for ways to integrate blockchain into their infrastructures.