Currency of modern world.

Invented in 2008, Bitcoin is not the first attempt at an all-digital, cryptographically based currency. Others have existed in one form or another for nearly fifty years, but have either failed to take off or dramatically crashed and burned. Bitcoin is the first cryptocurrency with the deep structure, wide adoption, and trading momentum to achieve escape velocity.

In practice, Bitcoin blends credit cards' ease of digital transfer with the relative anonymity of a cash handoff. Like all currencies, the problems it poses are both practical and metaphysical; like cash or credit, Bitcoin is somehow both more and less real than the goods it is traded for.

Today, essentially every digital transaction and every international transaction involves a use of one form or another of virtual currency or credit.

Transaction and exchange fees, taxes, and payment delays exist to provide short-term credit, guard against counterfeit, excessive withdrawals and other kinds of fraud, and to extract income. Bitcoin is designed to provide the same security guarantees and convenience of credit, while foregoing its extra processing times and fees.

Bitcoin’s performance in the recent days has caught everyone’s attention. With the cryptocurrency’s price rising to an all-time high, people have started to accept that Bitcoin is indeed a unique and valuable asset, capable of making them rich. This has led to an increase in price speculations and predictions. It is predicted that the digital currency’s price to reach $3000 by the end of this year.

Bitcoin is known for its volatile nature. At the same time, Bitcoin doesn’t share the same correlation with other financial assets, which makes it a safe haven asset that can stay healthy even when the traditional markets are weak. The publication states the analysis provided by Adam Davies, a consultant at Altus Consulting who factored in the various triggers that led to Bitcoin’s recent rally.