What affects the Bitcoin price?
Bitcoin is very volatile. This means that the price of BTC can bring many surprises to traders and investors. In 2017, for example, Bitcoin jumped more than 220 percent and hit nearly $ 20,000. In the opposite direction, Bitcoin price fell sharply during the so-called "Crypto Winter" 2018, when it lost more than 60 percent, sinking to the $ 3,000 level.
When was Bitcoin invented and who was the founder of Bitcoin?
Started in 2009, Bitcoin is the world's first decentralized cryptocurrency. Created by individuals or groups using the pseudonym Satoshi Nakamoto, Bitcoin formed the cryptocurrency market and paved the way for other crypto platforms.
The world's first decentralized digital payment system, Bitcoin is powered by blockchain technology. There is a limited amount of Bitcoin that can be mined - 21 million. This number is hardcoded into the system. Today, miners generate a new block every 10 minutes and earn 6.25 Bitcoin as a reward.
How much world money is in Bitcoin?
Bitcoin is the leading cryptocurrency in terms of market cap and the most expensive. Bitcoin price currently hovers around $ 9,200. Analysts consider 2020 to be an important year for Bitcoin and make positive forecasts regarding its future price. As of June 2020, Bitcoin's capitalization is worth an estimated $ 169.9 billion.
How do I store Bitcoin?
Bitcoin can be stored in different crypto wallets. You can choose a so-called "hot wallet" (software application), or "cold wallet" (dedicated hardware). While hot wallets are considered to be more agile for exchanging crypto, cold wallets are seen as a safer option for storing your coins for an extended period of time. In each case, the Bitcoin wallet is cryptographically secured, and to transfer your BTC you must have a "private key";