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

Cryptocurrencies could go with a bull run more than last year and pass the trillion-dollar mark in terms of value, experts told CNBC, using a recent violent sell-off across digital coins.

Bitcoin has witnessed a tremendous fall in recent days, dropping below $6,000 initially since mid-November. On Wednesday, it was trading higher than the $7,000 level since the cryptocurrency market stabilized.

At its lowest point on Tuesday, the total cryptocurrency market saw over $550 billion cancelled its value. But industry insiders see another rally ahead.

The Bitcoin companies are worldwide and also the citizens of China and Japan have already been particularly active rolling around in its purchase along with Asian countries. However, recently in Bitcoin news china government has experimented with suppress its activity in that country. That action drove the need for Bitcoin down to get a short time however it soon surged back which is now all-around its previous value.

The Bitcoin history chart is quite interesting. Its creator was an anonymous group of brilliant mathematicians (while using pseudonym Satoski Nakamoto) who designed it in 2008 to be “virtual gold” and released the initial Bitcoin software in early 2009 during the height of america economic crisis. They knew that to possess lasting value, it like gold required a finite supply. So in creating it they capped the supply at 21 million Bitcoin.

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