The Rise of Bitcoin Price
In the crypto realm, Bitcoin price is increasing tremendously with its demand. More people are eagerly investing in cryptocurrency due to its enormous growth in the past 10 years.
In the early phase of Bitcoin and cryptocurrencies, people rarely invested. More business people started using cryptocurrency for their business payment that will help enhance their business beyond the location barriers.
Cryptocurrency is helping entrepreneurs and business people to enhance their business operations beyond geographical barriers. It helps a lot in payment options due to the digitalization of their assets as cryptocurrency. Moreover, it helps to eradicate the middleman/agent on the financial transactions of the users.
Bitcoin Price History
Bitcoin Started with $1 in April 2011,
$32 in June 2011 sudden drop due to its legalization and illegal access of bitcoin made it volatile for security attacks. Slightly increased from $4.80 in May to $13.20 by Aug. An increased to $220 by April 2013.
There were up and downs in the Bitcoin price in the early phase of Bitcoin. Bitcoin was the first cryptocurrency in the crypto world. In 2017 due to the price bubble, it was moving into $1000 price and reached $20,089 in December 2017.
The Covid_19 Pandemic created a large economic crisis on the traditional financial system results in people opting towards cryptocurrency investments. It was $7200 in 2020, on the price before the pandemic crisis. After the Pandemic crisis, it has increased to $18,353 in November.
The Pandemic has messed up all the market values of the business shares, and normal government activities like printing currencies.
In March 2021 has reached up to $60,000 as an all-time high and declined price in summer with $32000. Bitcoin has reached a price value of $64000 in April 2021. It has to fluctuate with ups and downs in the price of Bitcoin.
Currently, Bitcoin started increasing in October 2021 reached up to $47, 000 from $33,000 in May 2021.
The Cryptocurrency Exchange business is advancing with the increasing demand for cryptocurrencies. Digitalizing all the transactions over the Blockchain in a secured way. The Cryptocurrency exchange like Binance is extending beyond the cryptocurrency exchange into the ecosystem.
Let us look at the World largest cryptocurrency exchange Binance,
Binance has started an academy for educating and helping the newbies in the trading platform. Binance has decided to help the charity trust during the pandemic crisis. Binance is has created a smart chain for executing their transaction. That helps to avoid the dependency on other Blockchain like Ethereum for validating the crypto transaction to be held on their platform. Binance has started a BinanceSmartChain a secure blockchain with lower gas fees comparing to the Ethereum Gas fee for executing the transactions. Binance has its own cryptocurrency called BNB. It provides added offers for the trader using native cryptocurrency BNB. Binance is further growing beyond its limit with the help of advanced technologies and people interested in investing in their cryptocurrency exchange.
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