Bitcoin (BTC) news as of 08/01/2022
This performance was possible thanks in particular to a gain that took place on Saturday July 30 and which pushed the price of BTC up to $24,658, its highest peak since June 13.
However, August has already started with a new drop and some analysts even fear a new strong consent prices over the past few weeks. ” August promises to be just as bad for bitcoin, with new bouts of recovery guaranteed “, assures Antoni Trenchev, co-founder and associate director of the DeFi Nexo platform.
Medium Term Bitcoin (BTC) Price Prediction
Between $30,000 and $20,000, you buy Bitcoin at a relatively low price. The price of $20,000 would be an important support if Bitcoin drops to this level. The coin can rally $50,000 in the medium term.
Long Term Bitcoin (BTC) Price Prediction
The most common discounts among big bitcoin investors are $100,000, $250,000, and $1 million. There is therefore no doubt that Bitcoin has a promising future. Potential regulation in the United States is welcome among large investors.
Bitcoin Project Reviews
Bitcoin is maintained by its domination. This is demonstrated during market declines. Investors are buying Bitcoin at the expense of more volatile altcoins. Thus, the declines of Bitcoin are relatively small compared to those of altcoins.
What affects the value of Bitcoin (BTC)?
- The halving: high probability of a rise
- Cryptocurrency Regulation Rumors
- Crypto adoption by a major payment company
What is Bitcoin (BTC)?
Bitcoin is the first cryptocurrency to be produced and the first use case for blockchain technology. It can be used to purchase goods and services from merchants who accept it as payment. Bitcoin (BTC) holders can purchase goods and send funds in BTC through a dedicated wallet without a central authority or bank acting as an intermediary.
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Bitcoin is the most well-known virtual currency today, and its value has risen exponentially since its inception in 2009. Bitcoin developer Satoshi Nakamoto has stated that Bitcoin’s goal is to be a system of electronic payment based on cryptographic evidence rather than on the trust of a financial or state authority.
Worth next to nothing in 2009, Bitcoin has grown in popularity in the space of a decade. El Salvador actually has a legal tender currency and several online payment players have integrated it into their systems under the pressure of demand.
How does Bitcoin work?
Bitcoin was created with the idea of a distributed digital ledger called blockchain. Blockchain is a form of public ledger, which is a digital system for simultaneously recording transactions and related data in many servers at once.
This decentralized aspect was revolutionary and it will be a standard in the future for data storage that does not require the trust of a central player such as GAFAM or banks.