October 13 to October 26 ๐๐ฏ
Bitcoin is the first and most popular digital currency - a cryptocurrency. It powers a peer-to-peer network for the exchange of value through the use of a decentralized protocol. The idea behind Bitcoin is to have a system where there is no middleman or central authority. The live Bitcoin to USD conversion is $ 66,023.56.
Bitcoin refers to both the software protocol as well as to the digital asset, which goes by the ticker symbol BTC. At its most basic level, Bitcoin is useful for transacting value outside the traditional financial system. You can buy and sell BTC for other cryptos alongside more traditional currencies at crypto exchanges like Binance, Kraken and Bitstamp.
Satoshi Nakamoto, a mysterious person (or group of people), launched Bitcoin in 2009. What sets it apart is that it's completely decentralized, meaning no single entity controls it. Instead, a network of computers, known as miners, maintains and validates transactions.
Bitcoin mining creates new bitcoins in the form of block rewards. The process verifies transactions on the blockchain. Miners earn Bitcoin as a reward for completing "blocks" of verified transactions and adding them to the blockchain.
It has a maximum total supply of 21 million, which means that there can only be 21 million in circulation. However, the number of issued Bitcoins will likely never reach 21 million. That is because of the use of rounding operators in the codebase.
You can break a single Bitcoin down into 100 million tiny pieces called "satoshis." You can store them in a digital wallet. The current price of 1 BTC in USD is $ 66,023.56. But you do not need to buy a whole Bitcoin; you can buy a very small fraction of it.
You can send parts of a Bitcoin to pay for things. You can also trade it for other crypto assets. But when you dig into the technicalities, it's like peeling an onionโlayer after layer of complexity.
All Bitcoin transactions happen on a blockchain. Think of it as a public digital ledger that everyone can see but no one can tamper with. Miners are the ones who validate and secure these transactions. They validate transactions by solving complex math problems and receive new bitcoins as a reward for their efforts.
Key Points to Remember
The fastest, most convenient way to purchase Bitcoin is to purchase it on ICONOMI. We check Bitcoin live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Bitcoin by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Bitcoin is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Bitcoin, we recommend you read the next section, as copying might be a better approach.
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the โtickerโ filter to find out which public Crypto Strategies have Bitcoin in their structure.
Here you can read and comment on all posts made by Strategists about Bitcoin BTC. See all Bitcoin price predictions in real time and make the best use of their crypto knowledge.
WEEKLY RECAP
A turbulent week is behind us. Our strategy did a nice return of +10%โ , with meme coins as drivers of biggest gains.
As for the entire market:
$BTC confirmed its support zone at $60,000 and is climbing towards $70,000. Over $10 billion in short liquidations are stacked against the $72,000 level. A magnet for traders.
Historically, in every halving year, BTC has started its parabolic rise in the second half of October. The real vertical growth begins around the time of the U.S. elections. The elections are in just 3 weeks, and Trump is leading again with a 54% chance of winning. Guess what happens to our meme holdings after the elections ๐๐๐๐
Crypto Market Pulse๐
All in all, these are crucial points to break for $BTC, as we are approaching the US elections, the market will become more and more volatile. Remember to stay safe, not overtrade and overthink it.
Nothing here is financial advice
1/ ETF Flows Overview ๐
$BTC: +$555.9M
$ETH: +$17.0M
Bitcoin saw a substantial inflow of $555.9M, showing strong institutional interest. Ethereum also followed with a modest $17.0M in inflows. These numbers indicate positive institutional sentiment for both assets, with Bitcoin leading the way in terms of capital flowing into ETFs this week.