2021 seemed a significant milestone for digital coins like Bitcoin and other similar digital currencies. Look at how Bitcoin has gone up this year; you can see the incredible rise. Not only Bitcoin but other digital coins too have gone up in the recent months of this year. The way the market has adopted and promoted Bitcoin and other digital coins; it seems that we have come along to a different level. Looking at the current market boiling this year, all we could see is good growth in the market that seemed to have gone up to 9.5 Billion USD. Just two weeks earlier, in 2021, it witnessed an incredible rise. Earlier in 2020, the total inflow of digital currencies in the market seemed to have gone to around 6.7 Billion USD. Well, if you want to have a detailed look at this subject, visit the site bitcoin millionaire pro and look at it. Now, let’s see how things have gone all these years for digital coins and the road ahead here in this post.
The rise of Digital Coins called BTC.
The year 2021 has proved a blessing in disguise for digital currencies, especially for Cryptocurrency like BTC. Imagine moving from 20K USD to as high as 69K USD. The fact is the coin has tipped to a massive end in 2021, going just double what we saw in 2020. Imagine the amount of 6.7 Billion USD of the total market cap of different coins coming this year alone is a thundering figure to discuss. November 2021 witnessed an incredible rise of Bitcoin, which brought the coin to an all-time high coming close to 70K USD. Looking at the way the coins have gone in terms of value and price, we see issues like the sudden clampdown on the digital market along with the tax provision falling over the US-based systems and legal parameters. The nations like India are also on the verge of taming digital coins as they consider it a threat to their economy. The country has now embarked upon legislation to ban private coins and allow the panic kind of situation in the country.
The rise of other coins
Not only Bitcoin, but we also saw the other Cryptocurrencies working fine in terms of growth and rise in price. We have seen coins like ETH and DOGE going up with a constant rise. ETH has emerged as the second-largest and most popular digital coin in the market, with a market value not less than 3.75L USD. Similar is the story of other coins as well. If you look at hostile nations like India, we have seen a good growth of digital coins. BTC and the other virtual coins have witnessed a decent surge in the past few months. As per reports, the country has people with 10 B USD based assets that seemed to have crossed the 10K Billion market for the first time in the market. Also, we have seen the assets based on different coins too have increased at a faster pace. Thus, for the first time in its history, we have seen the country coming up with around 923 M USD last year. Digital currency-based research and groups like CBA in India claim that around 100 M of people are now involved in Bitcoin and other coin-based trade in India alone. Close to 8 percent of India’s population is involved in this business.
The digital currency holder
We see digital currency-based assets emerging as one of the most decentralized options. Unlike decentralized options that flow in the market as per the commands of central banks, we see digital currency moving smoothly and alone. People are losing hope against fiat currency, and hence the way consumers are added with digital coins make all the difference. We see both the individuals and institutions putting huge money in it that showcases good growth in the digital currency market. Even countries like Nigeria are coming up with a good pace in this domain. As per reports, 1.30 Cr has been put in Bitcoin and other currencies by the people based in this nation. While in Russia the figure goes to around 1.74 Cr and in the US it is around 2.74 Cr. Compared to these nations for people owning digital coins, India has not less than 10.7 Cr of people. The current market cap is around 2 trillion USD.
