Cryptocurrency: The Revolution and Trend of Bitcoin in the Recent Scenario and Its Future Challenges and Opportunities

Abstract

Bitcoin is one of the most profound cryptocurrencies of the 21st century. Thanks to advancements in technological development, it has become possible and effective to invest in such coins from anywhere around the world. Since its inception, Bitcoin has gained considerable momentum and popularity among investors, despite facing legal issues. While there are several cryptocurrencies globally, Bitcoin remains the most popular, with many global investors financially dependent on it. Even a slight change in its value can have a significant impact on them. Over the years, the value of Bitcoin and its market capitalization have risen, attracting global investors to this digital currency. Therefore, a study has been conducted to analyze the growth, trend, and importance of Bitcoin, as well as its challenges and possible opportunities in the current scenario and the future for its sustainability. The aim is to provide insights that can benefit investors in the economy. The researcher utilized a line chart and a simple linear regression model to examine the trend and growth of Bitcoin’s value in recent terms. The findings of the study clearly indicate that there is growth in the value of Bitcoin, accompanied by a fluctuating trend. Based on these findings, suitable conclusions have been 70drawn by the researcher to assist investors in making informed decisions regarding such currencies.