The date “March 31” has become a momentous recurring date in the world of cryptocurrencies. Several events have taken place on this date over the years. This is not a myth as the reason is quite easy to explain.
But why March 31? March 31 is the end of the first quarter of every new year. Therefore, it stands as a common target for a lot of significant decisions that chart the course for the rest of the year, especially in economic circles.
Bitcoin was not created on March 31. Neither was the first block mined on that date. However, the date March 31 has been significant to cryptocurrency for a number of years. Take a look at the following milestone events:
However, on March 31 2013, the pioneer cryptocurrency exceeded a market capitalization of $1 billion. This is a significant landmark for any market. In this case, it was a momentous milestone for cryptocurrencies.
Adoption and recognition have been fundamental in the developmental life of Bitcoin. As a new technology, and one that is disrupting significant industries, Bitcoin has had a rollercoaster experience since creation. However, in a rather controversial move, on 31 March 2014, IRS qualified Bitcoin as a Commodity like Gold or Silver.
31 March 2015 appeared to be going past quietly, maybe because of the rave of the moment, Ethereum, which seemed a viable competitor for Bitcoin. The news of two agents of the U.S. Drug Enforcement Administration and the Secret Service stealing Bitcoin gave the day back to the number on cryptocurrency. The incident rekindled the interest of so many people who became curious again about the potential of Bitcoin.
31 March 2016, 2017, and 2018 also had significant events associated with them with Microsoft’s addition of Ethereum to its platform, Japan recognizing Bitcoin as a payment method and Twitter banning cryptocurrency ads in those years respectively.
All these are significant events that have shaped the cryptocurrency ecosystem over the years. As mythical as the date may seem, it is only a trend from which we can learn some dominant truth. The world is ruled in times and seasons.
While we consider the cyclic evolution of cryptocurrencies around the end of every first quarter of the year, it should also mark a time of life to make individual significant economic decisions.
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