Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
Prophecies that didn’t come true. None of the forecasts regarding the collapse of BTC became real
Probably, everyone who has heard about cryptocurrency was interested in the history of the emergence of it, and only a person living outside of civilization has not heard about it. Since the creation of the Bitcoin monetary system, the foundations of which originated back in 2008, the cryptocurrency with the same name has become one of the most expensive currencies in the world. The year 2008 cannot be called the founding of the cryptocurrency, since no event that completes the history of mankind occurs spontaneously, since it is preceded by many years of research.
Back in the 1980s, a system for sending anonymous payments was first invented. A few decades later, the Bitcoin payment system, the author of which is considered to be Satoshi Nakamoto managed to invent for the first time a money transfer system that is independent of world governments, and which cannot be tracked or controlled, since all payments are made absolutely anonymously.
Like everything new, at first the system experienced serious distrust on the part of users, which did not have a very good effect on the spread of the currency, since at first the currency itself could only be generated on the PC of its creators, without the involvement of intermediary exchanges. Since the seemingly distant 2008, when bitcoin was the ratio of 800 bitcoins for 1 dollar, many years have passed, and today the bitcoin rate has long exceeded such a fiat currency as the dollar by tens of thousands of times.
Who would have thought that it was the first transaction made two years later, after the birth of Bitcoin, that would become the basis of a new era of electronic payments. In 2010, in the month of May, one of the users of the Bitcointalk system, for fun, left a message that he was ready to buy two pizzas for 10,000 bitcoins, while it was indicated that he was ready to transfer Bitcoin in a similar amount to everyone who would deliver him pizza in the required amount. At that time, 10,000 bitcoins were approximately worth $17. In August of the same year, the author of the ad was forced to withdraw his offer, since the cost of 10,000 bitcoins had already become $ 600. In 2011, bitcoin aligned with the dollar for the first time in history, and the exchange was already taking 1 Bitcoin for $ 1. Literally a couple of years, and Bitcoin has reached the mark of one hundred dollars for one coin, and not for 10 thousand. In 2013, after stormy events with a rise at first to as much as $266 for one Bitcoin, and then a fall to $ 65 for one coin, sceptics said and predicted that Bitcoin would never reach the $100 mark, and all because the currency is not confirmed by a material component, and this gives a very volatile the exchange rate, which, in turn, should destroy the cryptocurrency. However, the rule of black PR worked. Many, both popular publishing houses and the media, as well as the yellow press, began to write and broadcast that the Bitcoin cryptocurrency is used only by attackers, criminal organisations and criminal groups, and even contract killings of politicians are paid for with its help. This led to the fact that only a dumb person did not talk about Bitcoin, and in just a couple of months, the rate of 1 Bitcoin was $ 1200. By the end of 2013, both politicians and government agencies were finally interested in cryptocurrency, and in a different way. Someone spoke sceptically and negatively about crypto payments, while someone began to actively think about creating their own cryptocurrencies.
It would seem that everything would have to calm down and go on as usual, but no – again, the hype around the sensational topic increases the popularity of Bitcoin. How did it happen?
Following Bitcoin, many cryptocurrency platforms and crypto-exchanges began to open, on which, first of all, it was possible to trade Bitcoin and other digital coins. In parallel with this, many other alternative cryptocurrencies appear that do not stand out for originality and are called so – Altcoin (Altcoin), Ethereum (Ethereum), Ripple (Ripple), Dash (Dash), Monero (Monero), which gained the most popularity. At the same time, Bitcoin is increasingly being accepted as payment for goods or services.
As of August 6, 2019, the cost of Bitcoin is already more than 10 thousand dollars per 1 coin. Along with this mark, sceptics again promise a strong fall in the Bitcoin exchange rate. But, as you can see, history still loves repetition, and even when sceptics said that Bitcoin would never reach $100, it fixed the $1200 mark. When bitcoin dropped from $1,000 to $150, sceptics said it would never hit the $1,000 mark again. Today, when bitcoin has fallen from $20,000 to $3,200, sceptics again have many prophecies that Bitcoin will not be able to repeat and surpass its record of $20,000. In 2019, Bitcoin recorded its maximum at $13,800. Therefore, there are very good reasons to be sure that there will be $20K bitcoin
