It all begins with sin, as when Adam and Eve sinned God sacrificed the first animal and made clothes of it for them (Genesis 3:21). Later, the bible would remind us many times that in order for there to be forgiveness, there must be blood (Exodus 23:18), (Leviticus 17:11). In the Mosaic dispensation, the Jews had to make animal sacrifices the blood of which was necessary to make them clean, however these animal sacrifices themselves were not sufficient to ultimately forgive a person and served as a type of a greater sacrifice (Hebrews 9:22).
This was fulfilled when Christ died in the cross, shedding His blood, as is said in Matthew 26:27-28:
Then He took the cup, and gave thanks, and gave it to them, saying, “Drink from it, all of you. 28 For this is My blood of the new covenant, which is shed for many for the remission of sins."
We are forgiven by the blood of Christ literally. However, a new point has been put out by some such as John McArthur who wish to make the blood merely a "symbol" of the death of Christ, denying that it itself saves. According to book of Matthew the blood is literally shed for the remission of sins, being itself what covers our sins. The bible states this many times:
Hebrews 9:22
Indeed, under the law almost everything is purified with blood, and without the shedding of blood there is no forgiveness of sins.
Ephesians 1:7
In him we have redemption through his blood, the forgiveness of our trespasses, according to the riches of his grace,
Ephesians 2:13
But now in Christ Jesus you who once were far off have been brought near by the blood of Christ.
Acts 20:28
Pay careful attention to yourselves and to all the flock, in which the Holy Spirit has made you overseers, to care for the church of God, which he obtained with his own blood.
Leviticus 17:11
For the life of the flesh is in the blood, and I have given it for you on the altar to make atonement for your souls, for it is the blood that makes atonement by the life.
Colossians 1:20
And through him to reconcile to himself all things, whether on earth or in heaven, making peace by the blood of his cross.
Revelation 7:14
I said to him, “Sir, you know.” And he said to me, “These are the ones coming out of the great tribulation. They have washed their robes and made them white in the blood of the Lamb.
Hebrews 10:19
Therefore, brothers, since we have confidence to enter the holy places by the blood of Jesus,
Hebrews 13:12
So Jesus also suffered outside the gate in order to sanctify the people through his own blood.
Luke 22:20
And likewise the cup after they had eaten, saying, “This cup that is poured out for you is the new covenant in my blood.
Revelation 5:9
And they sang a new song, saying, “Worthy are you to take the scroll and to open its seals, for you were slain, and by your blood you ransomed people for God from every tribe and language and people and nation,
Romans 5:9
Since, therefore, we have now been justified by his blood, much more shall we be saved by him from the wrath of God.
1 Peter 1:18-19
Knowing that you were ransomed from the futile ways inherited from your forefathers, not with perishable things such as silver or gold, but with the precious blood of Christ, like that of a lamb without blemish or spot.
John 1:29
The next day he saw Jesus coming toward him, and said, “Behold, the Lamb of God, who takes away the sin of the world!
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