What is the most important thing in the world? What is it that anyone, whether it is rich or poor, wants to have more than anything in life?
The answer is that everyone wants to lead a healthy and peaceful life where the rich and elite want to succeed in their private endeavors while the less privileged do the same with a well paid job by slogging it out in office day and night in order to provide a better lifestyle for their family.
Fortunately, things started to change in the late 2000s when the cryptocurrency phenomenon hit the digital spectrum like a thunderbolt and provided the perfect platform for job deprived youngsters, who were tired of giving job interviews with little success and reduced to doing menial jobs with meager income.
Digital Currency Watershed
The most popular among various types of crypto money was Bitcoin, which quickly became a roaring success by changing the fortune of one and all right from unemployed youth to reputed businessmen and investors.
The watershed cannot be described in words as nearly half the nations of the world took to it like fish to water and there was a time when there was news articles published with many stories of rags to riches that only went from strength to strength with the passage of time.
Bitcoin was first launched way back in 2009 and proved to be the perfect platform for beginners who wanted to try out this spectacle with all the help they could get from the experienced lot.
In 2010, within a year of its launch, the cost of one Bitcoin was nearly $13.69, which was seen as better given the aspects and quickly went up within a few months as the number of users increased.
Cryptocurrency, by definition, is defined as decentralized or unauthorized currency that does not have a central bank to regulate it and keep a record of its financial transactions in the market.
There is an old saying that good things do not last long and crypto money was no different as Bitcoin too underwent a sharp decline within a few years and its prospects declined as soon as it began to rise up, only the fall was worse with the silent thud being the loudest.
In 2012-13, the numbers were ranging from $4112 to $4550, which was nothing compared to the initial statistics in 2011 and 2012 and its nosedive was quite bewildering to its founders.
While a number of reasons were discussed, there was no conclusive feedback as they feared that if this news got out, the number of Bitcoin users will become few and far between for fear of loss.
One big reason was that after the initial burst of success, things started to fall apart as many users started losing big time and any currency’s strength depends on its country’s economy but crypto money was different as it did not have any central bank.
The numbers’ decline was attributed to the sensex, which keeps on truncating and the market price of many currencies started falling as a result of which Bitcoin prices too started fluctuating.
Just as good times give way to bad ones, the vice versa is true as well as in 2017 crypto money skyrocketed to a whole new spectrum where it quickly attained unprecedented numbers and they were much more than the initial ones during their launch.
Bitcoin once again consolidated itself as the undisputed king of cryptocurrency as it recorded the highest number of users, thereby leaving other currencies far behind in the rat race.
The resurgence was welcomed with open arms by experts and even old time users rejuvenated their faith in their old guard as they started buying more Bitcoins than ever.
However, the future prospects have met with mixed reactions as some people predict that it will again go down in the near future while others are of the view that it will soon overtake all the legal currencies of the world and become the single currency of all nations, which sounds too far fetch.
The crypto signal group has high hopes given the successful comeback and is in talks with crypto experts about its standing due to the Artificial Intelligence revolution that is to take over the coming decade.