Bitcoin is a digital cryptocurrency that was created in 2009 by the mysterious and pseudonymous developer, Satoshi Nakamoto. Its rise has been a prominent one, and its revolutionary status cannot be doubted. As we come to the end of the decade, it has become increasingly clear to economists and the general public that Bitcoin’s price has generally increased, perhaps due to its use of blockchain technology.
As reported by Forbes, Bitcoin enjoyed sharp gains over the first six months of 2019, staring the year at below $4,000 and climbed to nearly $14,000 in late June. The digital asset finished the first half of the year at $11,139.22, creating a commendable 202% rate of return. The reason for Bitcoin's initial increase in price has been due to 'several key components', according to Erik Finman, a young entrepreneur and early Bitcoin investor. He specifically mentioned "tariffs, election season, the wider acceptance of Bitcoin and the subsequent appearance of new platforms like Coinbits.” Among all these factors, the fourth one is undeniably affecting Bitcoin's price the most. Bitcoin has been omnipresent among financial ‘nerds’ and criminals, but it hasn't always been predominant among the general public. Implementing new services that can help the average joe get their hands on these technologies guarantees an increase in the price of Bitcoin, or any other digital asset for that matter.
Therefore, it can be concluded that Bitcoin, even with its ups and downs, is enjoying a steady increase in its price. The question of whether or not to invest in it remains a complex one, but Bitcoin is definitely the digital asset du jour and writers will most certainly be ebulliently recording it’s highs and lows (but mostly highs) in the history books with a positive light.