Bitcoin: Tracking The Journey Of The World’s Largest Cryptocurrency During Pandemic Years
Bitcoin: Tracking The Journey Of The World’s Largest Cryptocurrency During Pandemic Years
Bitcoin, which was born out of the 2008 financial crisis, benefited during the next big financial shock the world faced in the form of the pandemic.
A decade after Bitcoin was launched by a pseudonymous person or group of persons, named Satoshi Nakamoto, it has become the world’s largest and most valuable cryptocurrency. For long, Bitcoin remained in the shadows but in 2017, it began gaining prominence when its price rallied from $777.76 to $19,497.40 during the year. But then the gains were lost. By March 2020, Bitcoin was again back to trading at $5,000. However, that year Bitcoin’s value rose nearly 300 percent, outperforming gold by a factor of 10. By the end of December 2020, the cryptocurrency was trading at record highs of close to $30,000.
That performance by Bitcoin led some analysts to say that the cryptocurrency was in the midst of a third great price rally in its 11-year history until then. Around this time, the perception of Bitcoin began changing, investors started seeing it as a “digital gold” and a store of value. New investors saw in it an opportunity to grow wealth at a rate unmatched by any other investment instrument. Despite its highly volatile and speculative nature, the cryptocurrency began to take hold, finding its feet among the masses as a cash alternative.
Also, its rise coincided with the pandemic and lockdowns imposed around the world. With economies struggling to remain afloat, funds began to move out of stock markets rapidly and pouring into gold and cryptocurrency. Bitcoin, which was born out of the 2008 financial crisis, benefited from the next big financial shock the world got.
This year, Bitcoin’s journey began on a hyperactive note. Towards the end of February, Bitcoin had risen over $55,000. The price rise was backed by Tesla’s announcement that month that it had acquired $1.5 billion worth of the digital coin. After a brief lull in March, it reached its lifetime high of nearly $65,000 in April this year. Then again, the cryptocurrency market crashed in May as China tightened crypto mining within its territory. Bitcoin’s price was reduced to less than half of its peak, below $30,000. The price has stabilised since and Bitcoin is now trading above $42,000.
Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on kemmannu.com to provide the IP address and other details of senders of such comments, to the authority concerned upon request. Hence, sending offensive comments using kemmannu.com will be purely at your own risk, and in no way will Kemmannu.com be held responsible.
Similarly, Kemmannu.com reserves the right to edit / block / delete the messages without notice any content received from readers.
Rozaricho Gaanch April, 2024 - Ester issue
Final Journey Of Theresa D’Souza (79 years) | LIVE From Kemmannu | Udupi |
Invest Smart and Earn Big!
Creating a World of Peaceful Stay!
For the Future Perfect Life that you Deserve! Contact : Rohan Corporation, Mangalore.
Final Journey Of Joe Victor Lewis (46 years) | LIVE From Kemmannu | Organ Donor | Udupi |
Milagres Cathedral, Kallianpur, Udupi - Parish Bulletin - Feb 2024 Issue
Easter Vigil 2024 | Holy Saturday | St. Theresa’s Church, Kemmannu, Udupi | LIVE
Way Of Cross on Good Friday 2024 | Live From | St. Theresa’s Church, Kemmannu, Udupi | LIVE
Good Friday 2024 | St. Theresa’s Church, Kemmannu | LIVE | Udupi
2 BHK Flat for sale on the 6th floor of Eden Heritage, Santhekatte, Kallianpur, Udupi
Maundy Thursday 2024 | LIVE From St. Theresa’s Church, Kemmannu | Udupi |
Kemmennu for sale 1 BHK 628 sqft, Air Conditioned flat
Symphony98 Releases Soul-Stirring Rendition of Lenten Hymn "Khursa Thain"
Palm Sunday 2024 at St. Theresa’s Church, Kemmannu | LIVE
Final Journey of Patrick Oliveira (83 years) || LIVE From Kemmannu
Carmel School Science Exhibition Day || Kmmannu Channel
Final Journey of Prakash Crasta | LIVE From Kemmannu || Kemmannu Channel
ಪ್ರಗತಿ ಮಹಿಳಾ ಮಹಾ ಸಂಘ | ಸ್ತ್ರೀಯಾಂಚ್ಯಾ ದಿಸಾಚೊ ಸಂಭ್ರಮ್ 2024 || ಸಾಸ್ತಾನ್ ಘಟಕ್
Valentine’s Day Special❤️||Multi-lingual Covers || Symphony98 From Kemmannu
Rozaricho Gaanch December 2023 issue, Mount Rosary Church Santhekatte Kallianpur, Udupi
An Ernest Appeal From Milagres Cathedral, Kallianpur, Diocese of Udupi
Diocese of Udupi - Uzvd Decennial Special Issue
Final Journey Of Canute Pinto (52 years) | LIVE From Mount Rosary Church | Kallianpura | Udupi
Earth Angels Anniversary | Comedy Show 2024 | Live From St. Theresa’s Church | Kemmannu | Udupi
Confraternity Sunday | St. Theresa’s Church, Kemmannu
Kemmannu Cricket Match 2024 | LIVE from Kemmannu
Naturya - Taste of Namma Udupi - Order NOW
New Management takes over Bannur Mutton, Santhekatte, Kallianpur. Visit us and feel the difference.
Focus Studio, Near Hotel Kidiyoor, Udupi
Earth Angels - Kemmannu Since 2023
Kemmannu Channel - Ktv Live Stream - To Book - Contact Here
Click here for Kemmannu Knn Facebook Link