Bitcoin has surged to 0.49% crossing the $50,000 mark. The biggest cryptocurrency in the world has significantly grown by 81% from the last year’s low of $27,734. Ether coin that is connected with the Ethereum blockchain networks has risen up to 1.16% to $3,932.07, whose previous close was $44.97.
Several digital currencies have followed in the footsteps but it has been the most famous amongst the investors, as merchants have also begun to accept digital currencies for payments.
From 2018-19, the biggest digital currency had witnessed a major low of around $4,387 and within the span of three years, it has progressed and reached over $50,000.
Bitcoin was launched in 2009 as a virtual currency developed from computer code. Having no central banks like usual currencies, it cannot be hacked by any government. Bitcoins can also be exchanged for services and goods just like other currencies, only if the other party is ready to accept them as a mode of payment.
Do you think the surge in bitcoin will affect the people who have invested in it?