What is Bitcoin (BTC)?
Bitcoin (BTC) is a decentralized digital currency that enables peer-to-peer transactions over the internet without the need for intermediaries like banks. It was created in 2009 by an anonymous person or group known as Satoshi Nakamoto.
Transactions are recorded on a public ledger called the blockchain, which ensures transparency and security. Bitcoin is often regarded as a form of "digital gold" due to its limited supply of 21 million coins and its potential as a store of value. It can be used for various purposes, including online purchases, investment, and remittances.
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Price of BTC today
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| Date Comparison | Amount Change | % Change |
|---|---|---|
| Today | $ 3,054.75 | +3.47% |
| 30 Days | $ 23,198.44 | +34.18% |
| 60 Days | $ 33,298.16 | +57.63% |
| 90 Days | $ 31,686.59 | +53.35% |
BTC Price Information
BTC Market Information
What is Bitcoin (BTC)?
Bitcoin is one of the most popular cryptocurrencies in the market.
First introduced in 2009 by Satoshi Nakamoto, Bitcoin continues to the top cryptocurrency
according to market capitalization. Bitcoin paved the way for many
existing altcoins in the market and marked a pivotal moment for digital
payment solutions.
As the world’s first cryptocurrency, Bitcoin has come a long way in terms
of its value. It achieved an all-time high crossing $89,000 in November,
2024. One does not have to buy an entire bitcoin as bitcoins can be divided
into small units called satoshis, named after the creator. A satoshi is
equivalent to 0.00000001 bitcoin.
There is no physical BTC token so Bitcoin operates as a digital
currency. Bitcoin transactions are fully transparent and can’t be
censored, providing a global, censorship-resistant medium for financial
exchange. It’s a financial system backed by decentralized network of
computers, known as ‘nodes’, instead of centralized banking or
governmental entity, thereby promoting ‘decentralization’.
Why Is the Bitcoin Price So Volatile?
The price of Bitcoin has been highly volatile since it started because
of several factors. Firstly, the crypto market is smaller and not
heavily traded like traditional markets, so big trades can make the
price swing substantially. Secondly, Bitcoin's value depends on public
sentiment and speculation, leading to short-term price changes. Media
coverage, influential opinions, and regulatory developments create
uncertainty, affecting demand and supply dynamics and contributing to
price fluctuations.
Another key factor is Bitcoin's fixed supply. With only 21 million
bitcoins ever to be minted, its scarcity can lead to dramatic price
changes as demand varies. This is exacerbated by "whales" or large
holders of Bitcoin, whose sizable transactions can sway the market
considerably.
When Was Bitcoin Created?
Bitcoin was created in 2009 by an unknown person or group of people
using the pseudonym Satoshi Nakamoto. The digital asset is based on a
decentralized, peer-to-peer network and blockchain technology, allowing
users to securely and anonymously send and receive transactions without
intermediaries. Satoshi Nakamoto released the Bitcoin whitepaper in
2008, outlining the design and principles of the cryptocurrency. The
first Bitcoin transaction, which involved sending 10 bitcoins to a
developer, took place on January 12, 2009. Since then, Bitcoin has
gained traction as an alternative store of value and payment system,
transforming the financial industry.
How Does Bitcoin Work?
Bitcoin runs on a decentralized, peer-to-peer network, making it
possible for individuals to conduct transactions without intermediaries.
Transactions are transparent and secure thanks to the underlying
blockchain technology, which stores and verifies recorded transaction
data. Miners validate transactions by solving complex mathematical
problems with computational power. The first miner to find the solution
receives a cryptocurrency reward, thus creating new bitcoins. Upon
validation, the data is added to the existing blockchain, and it becomes
a permanent record. Bitcoin provides an alternative way to transact
that's transparent and secure, redefining traditional finance.
When Is the Next Bitcoin Halving?
The fourth Bitcoin halving was completed on April 2024. It is difficult
to predict the exact date of the next halving as it depends on the block
height. Since halving happens every 210,000 blocks, the next Bitcoin
halving is expected to occur in 2028.
Bitcoin halving
occurs approximately every four years, where the rewards given to
Bitcoin miners for mining blocks are cut in half. Following the halving
in April 2024, the reward was cut down to 3.125 BTC per block. Halving
was built into the Bitcoin protocol to maintain its value as a
deflationary currency.
Does Bitcoin Halving Affect BTC’s Price
The price movement following the fourth Bitcoin Halving hasn’t been
dramatic so far. Analysts believe that the cryptocurrency market is much
more mature today than in previous halvings. The current economic
conditions could also be a reason for no volatile price
movements.
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