Understand the statistics about bitcoin and cryptocurrency

Bitcoin and cryptocurrencies virtual assets are taking over the financial world and there is probably nothing stopping it to expand further. Every current investor or potential investor in this market is closely monitoring it and weighing every aspect of this market in order to make a wise trade. Whether you are positive about its future or have a negative prediction for it, there is one thing that you can’t ignore the fast and rapid growth that it has caught hold of the market.

Bitcoin may seem complex and difficult to understand but if you use the right approach and research then it can be extremely easy to understand. There are a lot of statistics about cryptocurrencies available on the web these days and especially for bitcoin. We have tried to sum it all up in this article for a better and easy understanding. 

Crypto and bitcoin statistics regarding the rise and fall in its price:

  • Right after the 2008 recession, Satoshi Nakamoto came up with the concept of bitcoin, a decentralized digital currency. It was at the time of the global financial crisis that the financial market understood the need for such a currency to safeguard their investments if any such situation rises again in the market in the future.
  • In 2009 bitcoin came to life and the world was pessimistic about it but it broke all the negative perceptions and started rising the graph and the rest is history. 
  • Since the inception of bitcoin, more than 18,000 cryptos have come to life. But it is to be noted that it all started after the rise of bitcoin and failed to make such huge popularity as bitcoin as of now.
  • The market cap of bitcoin as of September 2022 is around 350 billion US dollars. 
  • It has an average growth rate of 160.1% which is commendable if we talk about investment options all around the world and compare it with bitcoin.
  • By mid-2022 the bitcoin blockchain is roughly 415 gigabytes which is rapidly increasing every year.

Some more fun facts about bitcoin and the crypto market:

  • A post regarding bitcoin and cryptocurrencies is floated on social media every 3 seconds. To be more precise, 1,203 posts are made every hour on social media. This clearly shows the hype behind this digital currency. This hype is also somewhere responsible for the sudden change in prices of these digital currencies. 
  • There are more than 600 exchanges available to trade on currently all around the world. This is why the competition in this market is intense and the competition also gives rise to some unethical practices as well. Consumers need to be very cautious of how they approach the crypto market due to the presence of some suspicious and ill-intended platforms as well.

Crypto market’s impact on the environment

  • This market has created a lot of opportunities and built up a profit-making environment but its mining needs a lot of energy consumption and that is something that is worrying environmentalists all around the world. 
  • Some experts say that bitcoin alone consumed 150 terawatt-hours of energy by mid-2022 to be minded. This amount of electricity is enough that can provide power to 45 million populated cities just like Argentina. 
  • Out of the earth’s total energy consumption, crypto mining is said to have consumed about 0.40 percent of the entire consumption of the world. This research was made available as per the Cambridge Index. 
  • Mining these digital assets have expected to create 22-22.9 million metric tons of carbon dioxide per year which is a number that cannot be ignored. 
  • These are the very reason that countries all around the world are coming up with strict rules and laws around mining. One such country that is working tirelessly towards it is China. 

Conclusion:

The future of crypto and bitcoin is uncertain. But, the statistical factors and the outcomes that it is showing are the things that the investors must take seriously. One thing to note is that no country has completely rejected this idea. So, it is quite true that bitcoin will be there in the future serving as an investment asset. So, if the investors like to continue trading it, they have to take care analyzing these factors. To know more about stats on crypto and bitcoin visit https://bitcoin-profit.cloud/. 

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