Bitcoin’s Social Media Popularity Surges on 10th Birthday as Price and Future Look Bright
What started off as being one of the world’s most ambitious projects ever, Bitcoin has just turned 10 today.
The original goal of the digital currency, as per Satoshi Nakamoto’s vision, was to create an electronic, P2P cash system that would weed out the need for financial institutions and other third party intermediaries to facilitate monetary transactions.
While Nakamoto’s real identity still remains a mystery to this very day, Bitcoin’s use and overall adoption has increased quite substantially over the the course of the past decade. This is exhibited by the fact that over the last couple of years, the Bitcoin ecosystem has already undergone a couple of hard forks. However, with that being said, the original BTC network is still the alpha dog of the crypto world — with the currency holding a total market share of over 50% within today’s digital currency sphere.
BTC Mentions Explode On Twitter
On the occasion of the premier assets’ 10th anniversary, the crypto community at large has come together on various online platforms to talk about Bitcoin and how it has “transformed the landscape of the global financial sector”.
According to latest statistical data procured from Twitter, Bitcoin garnered around 2000 tweets yesterday within the span of a single hour— thus making it the most talked about cryptocurrency on the internet.
— CoinTrendz.com (@CoinTrendz) November 1, 2018
It is worth noting that while Bitcoin in its initial years failed to garner a lot of mainstream traction, the currency has since entered the consciousness of the public at large and has become one of the biggest talking points for the global financial community (since 2016).
With that being said, the journey for BTC so far has been a bumpy one. For example, late last year, the currency scaled up to a monumental $20K within the span of a few months. However, since the start of 2018, the alt-asset has been in a sort of a freefall, with the currency recently scaling down to a relative low of $6,300.
Bitcoin Is Here To Stay
Over the years many analysts and “so-called experts” have repeatedly belittled Bitcoin, calling the digital offering a ‘fad’, ‘bubble’ and what not. However, in the space of just 2 years, the currency is now being accepted by a wide array of merchants all over the globe. Not only that, a host of hedge funds too are slowly finding opportunities within this niche’ market space.
From a purely statistical standpoint, we can see that as things stand, Bitcoin is the world’s largest alt-asset with a total of 17 million tokens currently in circulation. If that wasn't enough, the market cap of BTC alone stands at a staggering $109 Billion (at press time).
What Lies Ahead For Bitcoin?
While a debate concerning the future value of alt-assets such as ETH, XRP, EOS continues to do the rounds on the internet, most experts (across the board) agree that Bitcoin is primed to dominate the alt-currency market for the foreseeable future. Some analysts have even proclaimed that by the end of the coming decade, Bitcoin’s value could potentially touch a relative max of $100,000 or more.
In addition to this, research outlets such as CoinCorner believe that we could soon see many service providers start to accept BTC as a mode of payment for their products.
Whatever your opinion regarding crypto may be, it is hard to deny the impact that this digital currency has had on the global financial sector. It now remains to be seen what the future has in store for Bitcoin.