See the Drastic movement in Bitcoin as per the Data

By ridhigrg |Email | Jun 6, 2019 | 1041 Views

Bitcoin, which has exploded back into the public consciousness over the last few months due to its surging price and a raft of positive cryptocurrency developments, is still a relatively new technology, just into its tenth year.

The bitcoin price, the biggest driver of bitcoin and cryptocurrency awareness, has gone from pennies per bitcoin 10 years ago to around $8,000 and has thrust crypto into the investment limelight as individuals and institutions scramble to grab a slice of the bitcoin pie.

Now, research has found bitcoin has matured as an asset, evidenced by analysis of increasingly complex bitcoin and cryptocurrency conversations (mostly), a drop in fraud concerns, and people talking more about the future of bitcoin than the past.

The research, from data provider Indexica and first reported by financial newswire Bloomberg, found there had been a ''coming of age'' for bitcoin, based on the study of the language used in thousands of text documents.

Bitcoin, which rose from under $1,000 per bitcoin to almost $20,000 in 2017, floundered in 2018 as the expected investment in cryptocurrencies from major financial institution and adoption from big retailers failed to materialize.

The bitcoin price slumped to lows of around $3,000 in December last year as the bitcoin and cryptocurrency industry fretted that the expected adoption and investment might never appear. Those fears now appear to have been somewhat assuaged, though developments remain at an early stage.

Indexica found bitcoin now is being spoken about in the same way as company stock, with those in the industry increasingly looking ahead to future developments and less back to the heyday of 2017.

''Think about it, executives will speak of good things they expect to happen on conference calls before they happen,'' Zak Selbert, chief executive officer at Indexica, told Bloomberg. ''They only mention mistakes afterward.''

Source: HOB