
Bitcoin $97.000 24h -0.996%

Bitcoin Price Action Overview

Bitcoin - Explained
Bitcoin, the first ever currency to be created over the internet, often called ‘internet money,’ was launched in January 2009. The native cryptocurrency of the Bitcoin ecosystem is called BTC. It represents the first real-life application of blockchain technology. This decentralized cryptocurrency was invented by a pseudonymous identity called Satoshi Nakamoto.
The Bitcoin whitepaper was released in 2008, which described BTC as a “peer-to-peer online currency eliminating the need for a third-party centralized authority to facilitate its transaction.”
Nakamoto states, “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” The Bitcoin network has a Proof-of-Work consensus method in which nodes compete to crack the next block’s hash to be added.
The race winner gets to add the block and earns the block reward, which comes up to a certain number of BTC. That’s how new BTC gets generated, and the process is called mining.
Notably, the block reward gets halved every 4 years. This process is called halving, and it creates new market supply and demand dynamics, which is reflected in the price of BTC.
This is done using the Bitcoin blockchain algorithm, which uses a complex mathematical equation. According to the equation, the maximum Bitcoin that can ever be produced is 21 Million.
However, mining with competing nodes has led to rising hash rates. Today, Bitcoin mining can only be done by high-power computers called ASICs (Application-Specific Integrated Circuits).
The entire computational competition has resulted in the power consumption of Bitcoin mining becoming a cause of environmental concern. According to multiple reports, the annual cost of mining BTC is comparable to the power consumption of an entire nation.
Most countries do not recognize BTC as legal tender. During its early days, it was even prohibited in some regions. However, as time changes, there is a sudden boom in the popularity of Bitcoin.
During this time, hundreds of new cryptocurrencies have been developed. Following the collapse of their national currencies, El Salvador and the Central African Republic now recognize Bitcoin as legal cash.

Bitcoin - Historical Price Data: A Look into the Past Performance

Bitcoin - Price Action: Key Indicators
Daily Metrics (change):

Bitcoin - How to analyze price action?
Bitcoin Break Even Price

Bitcoin - Price Analysis Indicators

Bitcoin - Users and Social Sentiment Analysis

Bitcoin - Holders and Distribution Analysis

Bitcoin - Volatility and Returns Analysis

Bitcoin Price Prediction

Bitcoin - A Technical Overview

Bitcoin Price Prediction Indicators

Bitcoin Prediction Table
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Bitcoin Prediction Table
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Bitcoin Prediction Table
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Bitcoin Prediction Table
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Bitcoin Prediction Table
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Bitcoin Prediction Table
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