1. The beginning of cryptocurrency (2008 - 2013):
Cryptocurrency began with the launch of Bitcoin in 2008 when Satoshi Nakamoto published a whitepaper describing a peer-to-peer payment system. By 2009, the first Bitcoin block was mined. At this stage, cryptocurrency was still very new, primarily attracting the attention of developers and small communities on technology forums like Bitcointalk.
• 2010: For the first time, Bitcoin was used to purchase real goods with 10,000 BTC exchanged for 2 pizzas, affirming the value of cryptocurrency.
• 2013: The estimated total number of cryptocurrency users was about 1 million people.
2. The boom phase and the rise of altcoins (2014 - 2017):
The emergence of alternative currencies to Bitcoin such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC) has marked a boom period for the market.
• Ethereum launched in 2015 with smart contract features, ushering in a new era for decentralized applications (DApps).
• This phase also witnessed increasing interest from institutional and retail investors. The number of cryptocurrency wallets rapidly increased, reaching about 5-6 million by the end of 2016.
3. The explosion event of 2017 - 2018: ICO and global FOMO
In 2017, Bitcoin's price skyrocketed to nearly $20,000, attracting significant media and public attention. The ICO (Initial Coin Offering) wave has caused millions of new investors to flock to the cryptocurrency market.
• By the end of 2017: The number of cryptocurrency participants reached about 18-20 million people worldwide.
• This event marks a milestone when the market is no longer the exclusive playground of technology companies but expands to the whole world.
4. The adjustment and sustainable development phase (2018 - 2020):
After reaching its peak, the market entered a prolonged adjustment phase. However, blockchain technology continued to develop strongly. Countries and financial organizations began researching and experimenting with cryptocurrencies.
• The emergence of stablecoins like USDT and decentralized exchanges (DEX) has made the market more transparent and secure.
5. The explosive growth period (2020 - 2024):
This phase was driven by:
• DeFi (Decentralized Finance): Allows users to borrow, save, and trade without intermediaries.
• NFT (Non-Fungible Token): Emerged as a new trend in the field of art and entertainment.
• Bitcoin Halving (2020): When Bitcoin supply was halved, BTC price surged and led to the development of the entire market.
• The participation of major organizations like Tesla, MicroStrategy, and investment funds like Grayscale has helped strengthen investor confidence.
Currently, in 2024:
• The total number of participants in the cryptocurrency market has surpassed 400 million global users, according to data from major exchanges and market reports.
• The cryptocurrency market is no longer a short-term trend but has become an important part of the global financial system.
6. The future of cryptocurrency:
With the rapid development of blockchain technology, Web3, and digital currency initiatives from central banks (CBDC), the cryptocurrency sector is on track to become a complete digital economy.
• Cryptocurrency will continue to attract billions of participants as blockchain applications are widely integrated into daily life.
Conclusion:
From 1 million people in 2013 to over 400 million people currently, the cryptocurrency market has undergone an extraordinary journey. With rapid growth, the participation of large organizations, and continuous innovation, cryptocurrency will continue to write new chapters in the coming decade.
