The biggest cryptocurrency Bitcoin (BTC) $93,505.3has gone through four major cycles since its emergence in 2009. These cycles represent milestones in Bitcoin’s adoption process. Now let’s examine what happened in each cycle and make inferences for the future.
First Step: Bitcoin’s Genesis Cycle
Bitcoin’s first cycle “genesis”, that is, it is called the initial cycle. This period covers the times when Bitcoin was known only by people with technical knowledge or people with anti-system ideologies.
These individuals were the first to see the potential of Bitcoin. However, at that time, the largest cryptocurrency was only used by a certain audience and did not create wide awareness.
Early Adopters: Price Under Thousand Dollars
Bitcoin’s second cycle “Early AdoptersIt is called the “period”. During this period, Bitcoin was trading below a thousand dollars. Individuals who are prone to technology, like to take risks and are open to innovations began to purchase this digital currency.
They are the biggest cryptocurrencyThey were the first people to realize the change that could create in the financial system. This process created Bitcoin’s initial user base.
The Era of Mainstream Awareness: In the Headlines
Third cycle “Bitcoin gained global awareness”Mainstream Awareness CycleIt is called “. By 2021, Bitcoin made headlines around the world.
Bitcoin has now become a topic that attracts the attention of not only technology enthusiasts but also a wide audience. But even during this period, many people were not ready to invest in Bitcoin.
Mainstream Adoption Era: Access Has Never Been Easier
Today, we are witnessing Bitcoin’s fourth major cycle. This cycle “Mainstream Adoption CycleIt is defined as “. Bitcoin, now exchange traded funds It is accessible to everyone thanks to (ETFs).
It has never been easier to access Bitcoin through traditional financial instruments until now. This ease of access has enabled the largest cryptocurrency to be adopted by a wider audience.
Bitcoin’s four cycles show its evolution from a technology experiment to a global financial instrument. Especially the fact that it has entered the mainstream adoption period means that we are at an important threshold for the largest cryptocurrency.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
