What you need to know about Bitcoin (BTC)

What you need to know about Bitcoin (BTC)

After several attempts by entrepreneurs since the 1990s, Bitcoin is the first viable cryptocurrency created in 2008 by Satoshi Nakamoto, whose identity remains a mystery. With a capitalization having temporarily crossed 1000 billion dollars, Bitcoin remains the leader of cryptocurrencies with a dominance of almost 40%. Its fluctuations drive all cryptocurrency prices.

Bitcoin (BTC) price: what is the current price?

Here is the live Bitcoin price.

The essentials to know about Bitcoin

Creation of BTC crypto

Bitcoin was created by Satoshi Nakamoto as an alternative to traditional payment systems centered around banks. This may interest you: Crypto The Sandbox (SAND): Should You Buy SAND? Opinion, analysis and prediction 2022. Cryptocurrency is the precursor to a new type of secure P2P value exchange. It is also the first application of blockchain technology.

The Bitcoin Project is open source and is maintained today by volunteer developers and supported by several societys of blockchain. Updates offered by Bitcoin Core developers are peer-reviewed to ensure they adhere to Bitcoin ethics and are free of bugs. Wladimir Van der Laan now leads the network maintenance team. Pieter Wuille, Marco Falke, Michael Ford, Jonas Schnelli and Samuel Dobson are among the Bitcoin developers.

How does bitcoin work?

Each bitcoin is essentially computer data that is stored in a digital wallet. This may interest you: Crypto Fantom (FTM): Should You Buy FTM? Opinion, analysis and prediction 2022. Bitcoins can be sent to your wallet, and you can transfer them to other people.

Each transaction is recorded on its blockchain, which is a public ledger. This allows individuals to track the transaction history of Bitcoins. There are mainly three methods to get Bitcoins:

  • Bitcoins can be purchased with fiat currency: euro, dollar, yen, etc. Your counterparty sends your Bitcoins to your wallet.

  • You may accept them as a method of payment for services rendered.

  • You can invest in dedicated Bitcoin mining pools and earn Bitcoin rewards.

Crypto BTC: our opinion and prediction for 2022

  • Bitcoin Global Mirror Mag Rating: 7/10

Bitcoin Project Reviews

The Bitcoin project is innovative and has paved the way for other blockchain-related innovations. Even though its blockchain is not natively equipped with advanced decentralized finance features, Bitcoin remains the most trusted cryptocurrency in the cryptocurrency sphere.

Price Volatility Notice

Bitcoin is very liquid and allows for short-term trading. Compared to altcoins, it is relatively stable.

Mid-Term BTC Price Prediction

Bitcoin is falling towards its former resistances that have become supports. These are good buying points for the crypto.

Long term BTC price prediction

Many analysts assume price targets ranging from $100,000 to $1 million for one Bitcoin. The lower range of this range at $100,000 remains very relevant over the long term.

Leave a Comment

Your email address will not be published. Required fields are marked *