Since its launch back in 2009, Bitcoin has become somewhat of an eyesore for the major currencies (USD, EUR, RUB, GBP) that have been ruling the world’s economy for a very long time. Additionally, Bitcoin has been in the news since 2009 for its volatility and the instances when it has been pronounced “dead” by many journalists and major stakeholders.
Amidst all these commotions, Bitcoin has managed to face the challenges head-on and is constantly shocking the world as whenever it takes a fall with respect to its price, it manages to bounce back and each time, it tends to surprise the entire world.
In the current year, Bitcoin went up to $12,000 only to take a fall down to $9,800 and then making it up to $10,200 again. The fall of $9,800 and bounce back to $10,200 both happened in the current month and now, Bitcoin has again grown up to $11,000 where it has shown stability and is constantly on the run for achieving more milestones.
One of the major achievements of Bitcoin in recent days is that it has beaten Russian Ruble and has made its way, earning the title of the six-largest currency in the world. In the recent analysis conducted by blockchain platforms, it has been predicted that the price of Bitcoin is set to observe an upward trend and grow higher in quantity and price.
Now the only challenge left for Bitcoin is to look ahead and target the top 5 giants that are currently ruling the world’s economy. In the list of top 5, the currency with the 1st spot is USD with $1.95 Trillion available in the form of circulation notes and coins. The 2nd spot goes to EUR that rules the economy with $1.38 Trillion worth of notes and coins that are currently circulating across the globe.
The 3rd spot in the list of the top 5 world’s largest currencies goes to the Chinese Yuan (CNY), 4th being taken by the Japanese Yen (JPY) and the 5th spot has been taken by Indian Rupee (INR).
As per the current situation, Bitcoin seems to be growing very fast with respect to its price and quantity. So far, there are 21 million BTC in the market and these many coins mean that BTC is on the right track of making it to the top in the coming years.