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Bitcoin, the world’s most popular cryptocurrency, has seen many bad phases since the beginning of the year 2022 and its downward trend is still continuing. On Saturday, the price of bitcoin has decreased by 2.23 percent or Rs 55,855 and with this the price of this cryptocurrency has come down to Rs 24,44,827. At this price, the market capitalization of bitcoin has also come down to Rs 43.8 trillion. Significantly, after reaching its all-time high in November 2021 last year, its price has come down by more than 50 percent so far.
50% broken since November 2021
Significantly, the price of bitcoin, the most popular cryptocurrency, reached its all-time high of $ 69,000 (Rs 51.28 lakh) in November 2021. But since then its price has come down by about Rs 29 lakh or more than 50%. On 7 January alone, the price of bitcoin had fallen by 4.9 percent to reach $ 41,008 (Rs 30.48 lakh). There was a lot of investment in cryptocurrencies in the year 2021 and the crypto market is expected to remain vibrant in the new year as well. But at the end of the year 2021 and the beginning of the year 2022, there was a big earthquake in the crypto market and investors have suffered huge losses.
Strong jump expected this year
Analysts had earlier predicted that bitcoin could again hit the all-time high of Rs 48,00,000 by the end of 2021, which was surpassed by the favorite cryptocurrency. With this, analysts have predicted it to touch the level of $ 98000 (Rs 73,50,000) in the coming time. For 2022, crypto experts say that it will again break the record to reach one lakh dollars i.e. about 75 lakh rupees. At the same time, its price is expected to reach $ 1,35,000 (Rs 1,01,25,000) by the end of the year.
Bitcoin is the most valuable of cryptocurrencies
Cryptocurrency is a virtual currency i.e. you cannot see it. Simply put, you can call it Digital Rupee. No bank issues cryptocurrencies. Only those who issue it control it. It is used only in the digital world. Currently, there are many types of virtual currencies in the world along with bitcoin. But among these, bitcoin has the highest value. For some time now, the attraction of investors towards bitcoin has increased rapidly. Bitcoin has also given strong returns to investors.
When was bitcoin started?
The credit for introducing this digital currency goes to a person named Satoshi Nakamoto. People believe that in the year 2009, a group named Satoshi Nakamoto introduced bitcoin to the world for the first time. However, the question of who they are and where they are remains a mystery even today. It started in 2009 and has gained a lot of popularity now. Please note that there is no government control over this currency. It is used only in the digital world. It is not controlled by any bank or government.
The risk in crypto business is also not low
This cryptocurrency is highly volatile and therefore its trading is also very risky. For example, the value of bitcoin rose to $42,000 in January 2021 and then fell to $30,000. Within a week it had risen again to $40,000. For bitcoin, you have an app through which you do transactions. Let’s say that your file has been deleted from the server or the password is wrong, then your money is lost forever. Recently there were reports that some people lost bitcoins worth lakhs because they did not have the password and forgot it.
