 |
| Bitcoin: picture Ronju130 |
Bitcoin prices have been rising since the Corona epidemic began. In 2020, the price of digital currency has increased by 300 percent. Not only Bitcoin, but other digital currencies are also rising in price. Ethereum is the second most widely used digital currency after Bitcoin. In 2020, the price of this currency has increased by 465 percent.
Bitcoin first came to light in 2013. Bitcoin peaked at a maximum of 400 dollar that year. In 2017, there was a big change in this currency; the price went up to 20 thousand dollars. However, it did not take long for that price to come down.
In December
2018, the price dropped to 3,200 dollar. Even in October 2020, the price of
this currency was 10,600 dollars. From then on, prices started rising at a
rocket speed. On January 3, the price of each currency rose to 34 thousand
dollars.
The bitcoin market has grown a lot in the last few years. New currencies like Etherium have been added to the market, Bitcoin exchange has also been launched. Bitcoin's ecosystem or market system has expanded over the last seven to eight years. As new currencies have entered the market, online bitcoin exchanges have also been launched.
Many people have become the owners of huge money by investing in it.
Its popularity is growing so much that Russell Okung, a player in the United
States National Football League, is being paid in Bitcoin by the club. Bitcoin
is now legally recognized in most countries of the world. Although not directly
banned in some countries, there are various restrictions on the use of Bitcoin.
Analysts believe that financial institutions are turning to bitcoin as an asset. Bitcoin users feel that Bitcoin is taking the place of gold as an asset. Analysts have speculated that the US dollar may depreciate in 2021, with fears that Bitcoin could rise further this year. At the onset of the Corona epidemic, investors turned to the dollar to find reassurance amid uncertainty.
This increases the
value of the dollar. But later the dollar fell due to several incentive
packages. As well as the acceptance of Bitcoin has increased as transactions or
payment gateways like PayPal have now started accepting digital currency. Paolo
Ardiono, chief technology officer at cryptocurrency exchange Bitfinex, told The
Guardian: "The digital currency market has never seen such a boom.
 |
| Bitcoin: picture Ronju130 |
It started in 2008
Satoshi Nakamoto, a talented Japanese citizen, set up a computer-based transaction system in Japan in late 2008. Which was not an alternative to the traditional currency. He wanted to create a transaction system where the transaction would not require any third party intervention, the account would be in the computer. And an indicator will be used to keep track of these transactions.
This index is
now known as Bitcoin, which has become known as a digital currency. Satoshi
Nakamoto created the digital transaction system using blockchain technology.
Later over time various branches have been added.
The main feature of Bitcoin is that it can be traded without the supervision of the central bank. Satoshi's hope was that good work could be done without the oversight of an authoritarian government. The far-reaching negative effect of the system of direct transactions between the two parties around the world is the black market.
Since the transaction is between two parties, it is difficult to catch it. Suppose you buy Bitcoin from someone, in exchange for conventional currency. Bitcoin went down in the laser of the person you bought it from. Your ledger is made, the number of bitcoins you bought is deposited there.
Those who buy Bitcoin are called cryptocurrency miners, and take a seller's seal at the time of sale. However, no recognition is required from any government agency. For this reason, the central banks of many countries have banned the use of Bitcoin for fear of increasing criminal activities.
But Bitcoin is
more volatile than gold as an investment medium. Because, as investment experts
say, Bitcoin has no fundamental basis. As a result, if a bubble is created in
its market, it will burst very easily. Many can lose capital in it. So a large
portion of analysts think it could never be a gold substitute.
Validity
Bitcoin transactions from Bangladesh Bank were declared illegal in 2014. Foreign Exchange Control Act, 1947; It is not supported by the Anti-Terrorism Act, 2009 and the Prevention of Money Laundering Act, 2012. Generally, people's emotions are very bad when it comes to business decisions.
Bitcoin bots are the most popular of the crypto trading bots. This is due to the relative size of the Altcoin market compared to the BTC market. Bitcoin is being traded in the same way as the US dollar and the pound-sterling. Recently, a number of companies, including PayPal, one of the largest digital currency transactions, have found support for online payment forms.
