Bitcoin First Time Crossed $ 32,000, Broke all Previous Records

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The cryptocurrency bitcoin has been steadily increasing. In the new year, the price of bitcoin has set a new record, breaking all records. On January 1, bitcoin surpassed $ 29,170 and on January 2 its value surpassed $ 32,000. The price of a bitcoin on Sunday morning was $ 32,602.80. It is believed that Bitcoin grew sharply as all markets were closed in the new year.

Bitcoin is a decentralized digital currency and is the first decentralized digital currency, which means that it is not operated by any central bank. It is designed for payments based on computer networks. Bitcoin cryptocurrency is a virtual currency, Virtual means that it has no physical form like other currency. It is a digital currency. This is a coin that you cannot see or touch. It is just an electronic store and if someone has bitcoin, they can buy goods like the common currency.

Experts believe that this cryptocurrency has emerged as a new asset class for investment. Crypto experts hope that at present, Bitcoin will surpass the $ 390 billion to 1 trillion market cap, meaning prices could exceed $ 50,000 in the next one year.

Bitcoins are not regulated in India and many other countries. A feature that increases its appeal among its fans but at the same time eliminates retail investors. In 2017, bitcoin crossed 1000 percent to $ 19,000 and then after a year, it was down to less than $ 3,500.