Bitcoin – 10-years in the Making

On this day 10-years ago, as the global financial markets licked their wounds from a financial crisis that gripped most, if not all, in what was yet another example of the world’s leading financial institutions delivering a time bomb to investors the world over, Satoshi Nakamoto delivered Bitcoin and with it blockchain technology that has since been touted, by some, as the greatest invention since the world wide web.

Unlike the market collapse of 2008 and even the dot.com bubble a number of years earlier, attempts to bring the Bitcoin house down have largely failed, with Bitcoin and the broader market having seen quite substantial growth from the early days.

While the 2008 market crash was a cautionary tale, for investors who had bet their shirt on that period of super growth to continue forever into the future, in stark contrast, Bitcoin’s story has been more of a case of ‘IF ONLY!!!’. Delivering more than a jackpot lottery to many, who have made sufficient wealth by just sitting on a small investment in Bitcoin and that’s before considering the Bitcoin whales, making billions of Dollars, and investors across the other cryptos who have seen more than 1,000% returns.

Granted, Bitcoin sits well below its all-time high of $19,387.6 and granted, some may have even entered the market at the dizzying heights on expectation that that late 2017 rally would never end and granted, falling 67% from its 2017 high is not too different from a bubble burst, though with one exception, there has been no market consolidation, just continued expansion.

CEO’s of leading financial institutions did their best to nip the cryptomarket and blockchain technology in the bud, as had governments and just about anyone else able to garner the attention of the media, but in the end, even the likes of George Soros began to consider the reality that Bitcoin and the broader market is here to say and, more importantly, that blockchain technology in some shape or form is the future.

Thanks to Satoshi Nakamoto, there are a whopping 2,086 cryptocurrencies in existence today, with the total market cap currently sitting at $202.87bn, well below the $817.82bn hit last December, but still a hefty size when considering the youthfulness of the cryptomarket.

As the cryptomarket makers and even Satoshi Nakamoto, look back over the last 10-years, the road ahead may well be an even more fascinating one. We’ve yet to see the market cryptos truly decouple, with the vast majority of cryptocurrencies tracking one another despite materially different product offerings and levels of success.

A regulatory overall, an inflow of institutional money and a broader acceptance by both governments and regulators that Bitcoin and cryptocurrencies are here to stay and are not just here to finance the underworld, would be a first step. This would certainly lead to a wider acceptance of the mass array of services and products on offer that would take the market into a new era, where companies such as Kodak may ultimately complete their transitions away from the old to the new.

While few are expecting fireworks today, with only the regulators able to rain on Bitcoin’s parade, there will also only be a few who can deny Bitcoin and the underlying blockchain technology’s impact on the world stage…

Get Into Cryptocurrency Trading Today