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

Cryptocurrencies could go on the bull run higher than recently and pass the trillion-dollar mark in terms of value, experts told CNBC, after a recent violent sell-off across digital coins.

Bitcoin has seen a huge fall in recent days, dropping below $6,000 the first time since mid-November. On Wednesday, it was trading above the $7,000 level as the cryptocurrency market stabilized.

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

The Bitcoin marketplace is worldwide along with the citizens of China and Japan are already particularly active rolling around in its purchase as well as other Japan. However, recently in Bitcoin news men and women government has attempted to suppress its activity in this country. That action drove value of Bitcoin down for the short time nevertheless it soon surged back and is now all-around its previous value.

The Bitcoin history chart is extremely interesting. Its creator was an anonymous gang of brilliant mathematicians (using the pseudonym Satoski Nakamoto) who designed it in 2008 being “virtual gold” and released the initial Bitcoin software during the early 2009 during the height of the USA financial meltdown. They knew that to get lasting value, it like gold had to have a finite supply. So in creating it they capped the supply at 21 million Bitcoin.

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