The history of Bitcoins has recently started moving to towards zenith as its value has touched $10,363 and if we take a glance of the transactions of the last 24 hours we would find that there is a rapid increase with about 295,440 transactions a day and about 12,310 transactions per hour. But again the question arises whether it can be relied upon?
It is not a superficial chapter but a profound concept, let’s try to move in by taking DEMONETISATION into consideration. We appreciated how the black money was seized and confiscated but do any of us know how many 2000 and 500 notes with new features were released? But when we speak about cryptocurrency, particularly bitcoins, we know that that about 2 cores 10 thousand bitcoins will be distributed out of which 1 crore and 66 lakhs are already being circulated in the market and the rest will keep evolving for at least a one hundred years. So this is the level of transparency that bitcoin offers, here government can’t influence its price, amount, value, time of transactions and their numbers. Every transaction ever processed is very well governed by the blockchain which records all the data without manipulation.
Bitcoin, today, has become a synonym for gold which works on the same price worldwide and needless to say that more than the currency it has become an asset. But it cannot be denied that its price totally depends on consumers as the game revolves between the demand and supply chain. Bitcoins saw its zenith in December 2017 when its worth went tremendously high, peaking at $19,783.So this rapid increase in the price was its heavy demand and low supply in the market.
The most interesting fact is that about 48% of the users of bitcoin are between the ages of 25-34. So the dynamic sector across the globe is already fascinated by bitcoins and this fascination would surely add to its value in the coming years. Statistics reveal that there are about 6 million active users of bitcoin and another historic day for bitcoins was 4 Jan 2018 when it saw the highest transactions performed in one single day which was about 425,000.
The enthusiasm on the global platform is pushing bitcoins towards a pinnacle of glory which is likely to add massive worth to bitcoins. The Blockchain technology is also growing every day as it is witnessing huge participation. There are about 29 million Blockchain wallet users worldwide. Around 47% of blockchain merchants are in the US, 37% in Europe and about 2% in Latin America. Thus, there is already huge participation on the international platform where people are forging ahead and taking RISKS for they know THAT IT ENDS AT A TREASURE TROVE.