Amazingly, Bitcoin was not the first cryptocurrency in the world, although in recent years it has become by far the most popular
 and at the same time the most expensive digital currency in terms of capitalization. Where does the origin of Bitcoin come from?
 When it all began. This article will briefly present Bitcoin's short but rather turbulent history.

The origin and beginning of Bitcoin

The concept of the creation of a decentralized electronic payment system was conceived in the 1990s,
 but this movement has intensified during the recent financial crisis. According to many programmers,
 each participant of the Internet should retain the right to keep their chosen data, hide their identity and no regulation on the part of
 the authorities. The first cryptocurrencies were created in 2008 and were, among others Hashcash and Bit Gold. Bitcoin could also be heard
 this year through the Satoshi Nakamoto manifesto, which introduced Bitcoin cryptocurrency at the beginning of 2009.



The beginning of 2009 is the first excavated block, the first transaction,
 and a few months later the first Bitcoin listing on the stock exchange. A year later, the first payment was made using Bitcoin.
 May 22, 2010 will forever remain in the memory of the cryptocurrency market, because then the first Bitcoin payment was made. 
Two pizzas were bought for 10,000 Bitcoins. Then 10 thousand Bitcoins were worth about $ 40, while today it is about $ 80 million, 
although at the height of the bull market it was close to $ 200 million.

Further development of the Bitcoin network

To become a Bitcoin owner, you had to dig it up by lending the computer's computing power or buy it from a third party.
 However, this process was lengthy, so in 2010 the Mt. Gox. It was the most popular cryptocurrency exchange in the world, which encouraged
 by the speed of converting ordinary currencies into cryptocurrencies due to having its own cryptocurrencies. Between 2013 and 2014, 70% of
 Bitcoin transactions were just made by the Mt. Gox. In 2014, however, the stock market collapsed and the liquidation process began,
 which caused a decrease in interest in cryptocurrencies alone among participants of the internet network.

Uncertainty of the future

In 2011, Bitcoin is experiencing one of the first crises. The creator of Bitcoin,
 who is still anonymous under the pseudonym Satoshi Nakamoto, is withdrawing from the entire project. Stock exchanges are starting to
 collapse and hacker attacks are being carried out to steal cryptocurrency. Nevertheless, the network is quickly shaking off these negative
 events and the next year brings another spectacular profit. The network is growing and the reward for digging a block falls
 from the original 50 BTC to 25 BTC. Bitcoin is becoming more and more popular in the following months and the official
 authorities of countries are becoming interested in cryptocurrency. More and more entities provide the option of payment in Bitcoin.

Overheating wave

After reaching USD 1,000 for one Bitcoin, the network is in crisis again. 
Further hacking into cryptocurrency exchanges. On the other hand, positive information appears. 
The European Court of Justice recognizes Bitcoin as money and recognizes that trading in it should be exempt
 from VAT (as opposed to asset trading).

Subsequent thefts and further payment options lead to stabilization of the Bitcoin exchange rate
 which ends 2016 in around USD 1000 for one Bitcoin.


Euphoria phase

The beginning of 2017 was not very successful. The price of Bitcoin was losing again, but since the turn of the first and second quarters,
 along with the popularization of other cryptocurrencies and the increase in popularity on the network, the price of Bitcoin has gone up.
 New levels were being recorded. Bitcoin does not slow down at 10,000 USD and climbs up. In China, trading on cryptocurrency exchanges is
 banned, network divisions occur, but this only slows the growth of Bitcoin and other cryptocurrencies for a moment. At the end of 2018,
 the price of Bitcoin reaches around 20 thousand. USD and the first futures contracts are introduced by large US stock exchanges such as
 CME and CBOE, which leads to market stabilization and allows large entities to bet on a drop in the exchange rate. This is basically the
 end of the last bull market and the speculative bubble may burst.
                         

Is this just a correction?

Since the end of 2017, we have been witnessing a huge correction on the cryptocurrency market.
 Nevertheless, the capitalization of the entire market is still huge and amounts to over USD 300 billion.
 Market interest is slightly lower, regulations are increasing, which bodes well for Bitcoin's long-term future
 although this reduces its speculative value, i.e. volatility.

Bitcoin was created to decentralize the payment system.
 The network controls itself, without any state supervision, and the money supply is limited. 
Bitcoin is still mostly unregulated, although it is slowly gaining popularity as a means of transport in international 
transactions and is beginning to crawl in terms of ordinary payments. Bitcoin is still used in illegal practices, i.e. it allows
 money laundering and financing of terrorism, although greater understanding of technology on the part of states allows catching such
activities. Bitcoin is increasingly regulated, which is both an opportunity and a threat to the future of cryptocurrencies. While most
personalities from the world of finance remain skeptical of Bitcoin and other cryptocurrencies, they praise blockchain technology itself
which is increasingly used in various economic spheres.

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