What you need to know about Bitcoin (BTC) before seriously considering investing in cryptocurrency

After several attempts by entrepreneurs since the 1990s, Bitcoin is the first viable cryptocurrency created in 2008 by Satoshi Nakamoto, whose identity remains a mystery. With a capitalization that has temporarily exceeded $ 1 trillion, Bitcoin remains the leader of cryptocurrencies with a dominance of almost 40%. Its fluctuations drive all cryptocurrency prices.

Bitcoin (BTC) price: what is the current price?

Here is the price of Bitcoin in real time.

The essential to know about Bitcoin

Creation of BTC cryptocurrencies

Bitcoin was created by Satoshi Nakamoto as an alternative to traditional bank-centric payment systems. This might interest you: Crypto The Sandbox (SAND): Should You Buy SAND? Opinion, analysis and forecast 2022. Cryptocurrency is the precursor to a new type of secure P2P value exchange. It is also the first application of blockchain technology.

The Bitcoin project is open source and is run today by volunteer developers and supported by many societys of blockchain. The updates offered by the Bitcoin Core developers are peer-reviewed to ensure they adhere to the Bitcoin ethics and are bug-free. Wladimir Van der Laan now leads the network maintenance team. Pieter Wuille, Marco Falke, Michael Ford, Jonas Schnelli and Samuel Dobson are among the developers of Bitcoin.

How does bitcoin work?

Each bitcoin is essentially computer data that is stored in a digital wallet. This might interest you: Crypto Fantom (FTM): should you buy FTM? Opinion, analysis and forecast 2022. Bitcoins can be sent to your wallet and you can transfer them to other people.

Each transaction is recorded on its blockchain, which is a public ledger. This allows people to keep track of Bitcoin’s transaction history. There are mainly three methods of getting Bitcoins:

  • Bitcoins can be bought with fiat currency: euro, dollar, yen, etc. Your counterpart sends your Bitcoins to your wallet.

  • You can accept them as a payment method for services rendered.

  • You can invest in dedicated Bitcoin mining pools and earn Bitcoin rewards.

Crypto BTC: our opinion and forecast for 2022

Reviews of the Bitcoin project

The Bitcoin project is groundbreaking and has paved the way for other blockchain-related innovations. This might interest you: Crypto Avalanche (AVAX): Is it time to invest in AVAX? Opinion, analysis and forecast 2022. While its blockchain is not natively equipped with advanced decentralized finance features, Bitcoin remains the most trusted cryptocurrency in the cryptocurrency sphere.

Price volatility warning

Bitcoin is very liquid and allows for short-term trading. Compared to altcoins, it is relatively stable.

Medium-term BTC price prediction

Bitcoin is falling towards its previous resistances which have become supports. These are good buying points for the crypto.

Long-term BTC price prediction

Many analysts speculate price targets of between $ 100,000 and $ 1 million for one Bitcoin. The lower range of this range at $ 100,000 remains very relevant over the long term.

Conclusion: should you invest in Bitcoin cryptocurrencies?

Bitcoin will remain the leading cryptocurrency for some time and will remain a benchmark for the cryptocurrency market. It is a good value for diversification.

Useful resources for investing in Bitcoin (BTC)

The information provided on this website is not to be regarded as investment advice, financial advice, advice on business or any other kind of advice and nothing on the website should be regarded as such. Mirror Mag does not recommend buying, selling or holding cryptocurrencies.

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