Bitcoin (BTC) news as of 08/15/2022
Data from graphics from CryptoQuant show that the reserves of Bitcoin miners have been falling for the past few days. Usually, this reflects a desire to sell Bitcoin holders.
It’s an understandable decision, as Bitcoin recorded its best month since the start of the year in July, rising 19%.
However, this selling frenzy from miners may dampen this latest rally and drive the coin’s value down, at least in the short term. Sunday, August 14, the BTC is trading at $24,305 at the time of writing.
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 predictions 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 will maintain 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 moderate 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 released and the first use case for blockchain technology. It can be used to purchase goods and services from merchants who accept it as payment. The holders of Bitcoin (BTC) can buy goods and send funds in BTC through a dedicated wallet without a central authority or bank acting as an intermediary.
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 over the span 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.
Useful links for investing in Bitcoin (BTC)