January 3 is an important day for cryptocurrency fans and activists because January 3, 2009 is the birthday of Bitcoin. On this day, the first block of the Bitcoin blockchain was mined by the legendary Satoshi Nakamoto.
According to Mihan Blockchain, on January 3, 2023 (13 January 1401), the king of the cryptocurrency market celebrates his 14th birthday. Today is Bitcoin’s birthday. While after going through a difficult period in 2022, it has moved away from its prosperous days and its future is not clear. 2022 was an eventful year. 3 months before the start of 2022, the price of BTC reached $69,000, but the year 2022 started with Bitcoin $47,000, but after a wave of events, the year 2022 ended with the price of $16,600; This means that the price of Bitcoin has lost more than 75% of its value in 2022.
Crypto events in 2022 were partly influenced by macroeconomic data. This year, we saw the breaking of the 40-year record of the dollar index (DXY), and as we know, the value of the dollar has an inverse relationship with the value of bitcoin, and it can be said that the dollar will attract a large amount of crypto capital in 2022. One of the most influential events in the market was the crash of Terra, which wiped away $48 billion of crypto investors’ capital. The destructive events of the market in 2022 were respectively:
In the table below, you can see the price of Bitcoin in different months of 2022:
|Christian month||Price on the first day of the month||Price on the last day of the month|
A brief overview of the history of Bitcoin
On January 3, 2009 (December 14, 2007), an unknown person or group named Satoshi Nakamoto extracted the first block of the Bitcoin chain known as the creation block or genesis block containing 50 bitcoins. In those days, the United States was facing a major financial crisis, which some economists believe was caused by the unwise decisions of the central bank in the indiscriminate printing of money.
It seems that the policies of the central bank also bothered Satoshi Nakamoto and forced him to invent a type of money and a system of printing and issuing money that is decentralized and no institution or superpower can print money whenever it wants or needs. In Block Genesis, Satoshi posted a headline from the Times newspaper as a protest message to the central bank system:
Times 03/January/2009 Chancellor on the eve of the second bailout for banks
Satoshi was not a fan of the modern banking system. In the modern banking system, banks are always facing a deficit of reserves. In fact, when people deposit their money in the bank, the bank lends from people’s deposits or invests with them, and it only needs to keep a part of the deposits. This means that the bank is abusing people’s trust and using money that does not belong to him, and this issue was not pleasant for Satoshi.
Nakamoto work on Bitcoin White Paper started in 2008 (the height of the financial crisis in the West) and published it in October of the same year. Crypto activists celebrate October 31 every year as the anniversary of the release of the Bitcoin White Paper.
Before examining the Bitcoin price outlook, let’s see what Bitcoin has been worth on its birthday over the past 14 years:
We are celebrating Bitcoin’s birthday in a situation where Bitcoin is not doing so well. 2022 was an eventful year full of ups and downs for this cryptocurrency and the crypto market in general. From the numerous bankruptcies of well-known companies to the destruction of popular cryptocurrencies and the breaking of hacking and fraud records. We have reviewed the events of 2022 in the podcast Homeland, which is worth listening to.
In this situation, there are various speculations about the future of Bitcoin and possible events in 2023. We suggest that you don’t miss the article of Mihan Blockchain, which examines these predictions.
On Bitcoin’s birthday, this cryptocurrency is trading at $16,735.54, showing a 1.27% increase compared to the previous day. The crypto market cap is $840.55 billion and Bitcoin dominance is 38.34%. In the following, we can see the status of the top 10 coins in the market from the Mehan Blockchain site:
What is your prediction from 2023? How do you think we will celebrate Bitcoin’s birthday next year? Will the wounds of 2022 heal or will Bitcoin’s 15th birthday be sadder than this year’s?
What is Bitcoin’s birthday?
- On January 3, 2009, Satoshi Nakamoto mined the first Bitcoin block known as the Genesis Block. This day is named as Bitcoin’s birthday.