Bitcoin – inception, development, future

Abstract

This bachelor’s thesis deals with the topic „ Bitcoin – inception, development, future “, focusing on the operating principles of Bitcoin and the blockchain technology that underpins it. The theoretical part explains the key concepts related to cryptocurrencies and then characterizes Bitcoin, including its origin, the mining mechanism, and the significance of halving. The thesis also discusses altcoins, alternative cryptocurrencies that emerged after Bitcoin. The thesis includes an analysis of Bitcoin’s historical price development and identifies selected factors that have influenced its price cycles, volatility, and investor sentiment. Subsequently, it presents a fundamental analysis of Bitcoin, taking into account its specifics as an asset without traditional cash flow, and draws on selected market and on-chain metrics as well as qualitative project factors. A separate chapter is devoted to the regulatory environment in selected jurisdictions and its impact on the market.