Most popular cryptocurrency; Bitcoin has risen by 6.8 percent to $56,852.03. The cryptocurrency has seen quite some fluctuation these past few weeks. The cryptocurrency hit the $60,000 milestone but dipped again. Since then, it has been fluctuating between $50,000 and $60,000. As at April 14, one Bitcoin was worth $64,895.22.
Experts that predicted Bitcoin reaching the $60,000 milestone also predicted that the coin would get to $70,000 before the middle of the year. With the middle of the year just few weeks away, it sure looks like there is a slim of chance of Bitcoin hitting that milestone.
Second most popular cryptocurrency after Bitcoin; Ether popularly referred to as Ethereum has been faring better than Bitcoin. Bitcoin has been up just 95 percent this year. Ethereum on the other hand has been up more than 300 percent this year and has continued to set new milestones. It recently hit $3,400 and promises to continue to surge.
In this same period, Dogecoin has risen to the position of fourth-largest cryptocurrency by market capitalization. Dogecoin has been faring quite well. For a coin that was created as a joke, it has been received very well and has done quite well in the market.
Bitcoin was invented in 2008 by an unknown group that goes under the alias of Satoshi Nakamoto. It is based on the immutable blockchain technology, is a decentralized currency that does not need the presence of a central bank or financial institution to work.
After electric vehicle company; Tesla invested the sum of $1.5 billion in the cryptocurrency, and promised to accept it as a means of paying for its vehicles in the future, Bitcoin hit past the roofs. Many other global businesses have adopted the currency as a means of payment. Some of these other global businesses and firms include; BNY Mellon, Mastercard, etc.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
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