It is 12th December 2017 and I am awestruck by the tremendous pace with which Bitcoin has risen in the last one month reaching a new peak of $16000 per BTC.
It has been growing constantly for a couple years now but the recent grown is parabolic in nature i.e the rate of Bitcoin price increase is increasing.
Unsurprisingly, this has really taken a toll on financial and investment analysts across countries as this is something outside of what they had learnt in business school. There are major speculations at this moment about the imminent crash that Bitcoin may become in the future.
Bitcoin and I go way back. I first started mining Bitcoin in 2011 on my Dell Inspiron laptop after a friend who had previously used Bitcoin for infamous exchanges told me about it and what it was. I remember at the time the value was close to $20.
After about 6 months of mining, I had managed to collect 0.5 Bitcoin, the value of which I can only appreciate today.
I started becoming crazy about Bitcoin. I did online tasks, sold stuff, did online surveys, browsed advertisements and even played games to earn bitcoins. After another month, I now had 1 full Bitcoin. If you're wondering how I was able to earn so much so quickly is because at that time the payout of these Bitcoin earnings sites was much more since the value of bitcoin was also relatively very small.
Three months later I had earned another 2 Bitcoins and now was the owner of 3 Bitcoins across 2 Bitcoin wallets. Never had I felt so proud of being an owner of merely 3 but valuable coins.
Soon after I got a full time job and stopped paying attention to Bitcoin. A year later I stumbled across an article informing that the price of bitcoin was now $120. When I saw this I couldn't believe it. I opened my mailbox to check for login credentials for my Bitcoin wallets and sold the 3 coins for nearly $400. Though this made a fun week for me and I was very impressed with my investment vision, it's now safe to say that this was my BIGGEST MISTAKE EVER!