Home Cryptocurrency News As Bitcoin turns 14, the cryptocurrency awaits new ‘milestone’ moments | Mint – Mint

As Bitcoin turns 14, the cryptocurrency awaits new ‘milestone’ moments | Mint – Mint

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Bitcoin, the world’s largest and hottest cryptocurrency is celebrating its 14th birthday in the present day. On January 3, 2009, the primary block of the Bitcoin blockchain, generally known as the Genesis block, was mined by the pseudonymous developer(s) generally known as Satoshi Nakamoto. Cryptocurrencies are by-products of the blockchain expertise.

“Regardless of challenges, Bitcoin has continued to thrive and has grow to be an alternative choice to the centralised monetary world. As Bitcoin turns 14 years previous, it’s value reflecting on the unbelievable journey that it has been on to date and the various improvements that it has impressed. This is to hoping that the following 14 years are simply as thrilling for Bitcoin and the broader cryptocurrency world,” mentioned Rajagopal Menon, Vice President, WazirX.

Cryptocurrencies had a harsh 2022 after reaching document highs late final yr, buffeted by all the pieces from the Fed’s coverage tightening to the implosions of the Terra/Luna ecosystem, hedge funds Three Arrows Capital and alternate FTX. 

“Bitcoin turns 14 years previous in the present day. Being the entrance runner on this fast-maturing asset class, Bitcoin had a curler coaster experience. From being exchanged for a few pizzas to giving individuals bold hopes of shopping for Lamborghinis with their holdings to extra rational adoptions, comparable to funding merchandise by monetary establishments, Bitcoin has come a good distance. We’re witnessing a contemporary monetary revolution led by Bitcoin. With nations drafting authorized frameworks across the utilization of cryptocurrencies, the approaching occasions are going to be milestone moments for Bitcoin and the cryptocurrency ecosystem,” mentioned CEO and Co-founder, Edul Patel, Mudrex.

Bitcoin, which is presently buying and selling over $16,500 degree, is down by three-quarters from its document excessive of $69,000 that it had hit in November 2021.

“We’ll see plenty of rules in 2023 and the years to return and the markets will mature and grow to be steady. All these strikes will penetrate Bitcoin increasingly within the world economies. The decentralized nature of Bitcoin will show it to be probably the most trusted on the sooner or later as in comparison with different crypto currencies that are very a lot centralized,” mentioned Amanjot Malhotra, Nation Head – India, Bitay.

“Wanting on the historic development of Bitcoin, we discover that it has thrived victoriously via a number of bull and bear market cycles. In response to information from Glassnodes, near 60% of circulating Bitcoin hasn’t moved in a yr. This reveals that the belief within the asset stays rock stable. We’re assured that Bitcoin will proceed to emerge victorious and see larger heights in future,” mentioned Raj Karkara, COO, ZebPay.

 

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