Bitcoin market could hit $1 trillion this year with bitcoin surging to $50,000

Cryptocurrencies may go on a bull run higher than last year and pass the trillion-dollar mark with regards to value, experts told CNBC, carrying out a recent violent sell-off across digital coins.

Bitcoin has seen an enormous fall in recent days, dropping below $6,000 the first time since mid-November. On Wednesday, it had been trading higher than the $7,000 level since the cryptocurrency market stabilized.

At its lowest point , the entire cryptocurrency market saw over $550 billion wiped off its value. But industry insiders see another rally ahead.

The Bitcoin market is worldwide and also the citizens of China and Japan have been particularly active in the purchase as well as other China. However, recently in Bitcoin news china government has attempted to suppress its activity because country. That action drove the need for Bitcoin down for the small amount of time however it soon surged back and is now close to its previous value.

The Bitcoin history chart is incredibly interesting. Its creator was an anonymous gang of brilliant mathematicians (with all the pseudonym Satoski Nakamoto) who designed it in 2008 to be “virtual gold” and released the 1st Bitcoin software at the begining of 2009 in the height of the USA economic crisis. They knew that to have lasting value, it like gold required a finite supply. So in creating it they capped the availability at 21 million Bitcoin.

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