Tax Refunds To Be Paid In Bitcoin (BTC); The Announcement Leads To A Market Surge
Bitcoin has become a common household name at least for those who like to keep abreast about the latest technological developments. All thanks to Bitcoin that many other altcoins have come into existence trying to solve problems in the Bitcoin network or to coexist and gain under the shadow of its mighty force. Bitcoin was founded in 2008 by an individual or a group of individuals under the pseudonym, Satoshi Nakamoto. Since then, the blockchain based decentralized open-source currency has seen different tides leading to speculations, anticipation and opinion shifts on the future of cryptocurrencies. While all this continue, it won’t be wrong to say that Bitcoin has brought with itself a huge amount of possibilities related to the existence of peer-to-peer networks and is expected to reshape the future of digital economy by making the usage of these crypt coins mainstream and seamless globally. The platform has grown since its inception due to features like scalability, faster transactions, and empowerment of users to control their finances & assets in a secure environment.
Current Statistics:
As per the CoinMarketCap, Bitcoin has secured the first position in the top 100 cryptocurrencies list globally. The ROI of Bitcoin is over 4,111.56%. The circulating supply of the coin is currently 17,684,650 BTC which is equivalent to the total supply of the coin. The maximum supply of BTC has been 21,000,000 BTC. As on May 06, 2019 at 07:34:00 UTC, the market cap of BTC if 100,601,498,928 USD, the price is trading at 5,688.63 USD and the 24 h volume is 14,622,042,278 USD.
Comparison:
In the last 30 days, the highest price of BTC has been recorded as 5,886.89 USD, and the lowest reached 4,955.85 USD. The highest price remained the same in the last 7 days as well; however, the lowest was recorded as 5,216.49 USD. Bitcoin reported an all-time high of over 20,089 USD on December 17, 2017, and the coin has the potential to cross its benchmark by the end of 2019. As on April 10, 2019, at 05:34:00 UTC, the market cap of BTC was 91,698,816,902 USD, the price was trading at 5,199.26 USD, and the 24 h volume was 14,594,107,196 USD. The upward trend of over 9% has been observed in the past one month. As per Bitcoin price projections, the coin can be expected to grow as high as USD 10,000 by the end of 2019, and in the next 2 years, it will reach over USD 20,000 again.
Prediction:
Bitcoin has been able to secure many strategic partnerships since its inception and continue to do so. Recently, the Smartphone giant, Samsung announced the introduction of a BTC based wallet function in its Galaxy S10 series. Recently, Refundo announced that it would refund the tax of its clients in Bitcoin, major news reflecting the increasing mainstream acceptance of the currency leading to an increase in trust and inviting more partnerships. 2019 is the year of cryptocurrencies to thrive.
