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Bitcoin Fundamental Analysis
Bitcoin is the world’s first digital currency in the world. Before Bitcoin, there was no such currency. It is not tied to anything and its price is regulated by market supply and demand. Bitcoin is a worldwide payment system through which transactions can be conducted. Its main feature is that the Bitcoin system does not have a control center and all operations take place in a network by equal customers. Bitcoins aren’t printed like dollars — they are issued by the participants of the system all over the world, who use freely available software to solve complex mathematical problems.
Bitcoin Live Price Chart
As the first and the oldest cryptocurrency on the market, Bitcoin has already seen some rises and falls in price. Its last bull run has started in May 2020 and was triggered by the Bitcoin halving, which is the procedure of cutting the reward for mining in half. Previous to thar, Bitcoin was trading at around $9000, but by late July it broke $10000 barrier. However, it really took off by winter 2020, reaching around $30000 by the time 2021 rolled around. Several factors may have contributed to the Bitcoin’s price growth, such as the increasing accessibility of the crypto trading tools and resources, as well as the influx of new retail investors (many of whom entered the market with their COVID-19 stimulus checks).
The beginning of 2021 saw Bitcoin continuing its seemingly unstoppable bull run, as the institutional investors took note. It reached an all-time high of $64,863.10 on April 14. In mid-May, however, the price fell sharply amid China’s crackdown on miners and Elon Musk’s comments on mining process’ energy expenditure. Since the beginning of the summer, Bitcoin was mostly trading in the corridor between $30000 and $40000. Whether this is going to turn into a true bear market remains to be seen.
Bitcoin Technical Analysis
Bitcoin Price Prediction
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