Why does Bitcoin fluctuate every 10 minutes? (Why does Bitcoin rise and fall in a moment)
Why does Bitcoin fluctuate in 10 minutes? What is Bitcoin all about?There are tw
Why does Bitcoin fluctuate in 10 minutes? What is Bitcoin all about?
There are two main reasons why Bitcoin can rise so fast:
1. It is one of the most notable events in history, which can be traced back to February 3, 2009, when Satoshi Nakamoto published a paper titled “Blockchain Revolution for Bitcoin,” proposing to limit the number of units to 21 million, aiming to make it more scarce. However, this number is not high as it only accounts for a small part of the total network. As the price continues to rise, the quantity of Bitcoin will decrease, meaning that it will no longer be issued. Considering the current market situation, this possibility will increase, so we believe this is an unsustainable trend.
2. In the mid-2010s, there was an extreme phenomenon where Bitcoin was compared to gold or silver. People did not believe that anything could become a currency, nor did they believe that something with no intrinsic value could be used as a medium of exchange or a store of wealth. This led to the emergence of a new category of assets, such as stocks, bonds, and cryptocurrencies, including Bitcoin. So what is Bitcoin? What is the reason behind the 10-minute interval? It is because at the end of 2012, Bitcoin started to develop into a rapidly growing product. Until early 2013, which is also the beginning of 2014, the first version of BTC was created. By the end of 2017, with the Bitcoin price reaching its peak, it continued to grow exponentially. According to Coinmarketcap data, as of September 2019, the total circulating supply of Bitcoin on all major exchanges worldwide was approximately 1.3 billion US dollars. From late December 2017 to early August 2018, the Bitcoin balance on Coinbase, the world’s largest cryptocurrency exchange, was around 477 million coins, leaving only 600 million coins. These funds entered the top ten of the cryptocurrency market. Since 2020, due to various factors, Bitcoin has been rapidly rising and steadily increasing.
Why does Bitcoin rise and fall in a moment?
Editor’s note: This article is from Cybtc Blockchain (ID: cybtc_com), written by irishash, authorized reprint by Odaily Star Daily.
After reaching its peak in December of last year, the price of Bitcoin started to decline, but this time it fell in a day. This is because the “bear market” is over, and this round of rise is not as big as the last bull market. But why is this happening? The reason is that due to the impact of the new coronavirus and changes in the global financial market, investors have often turned their attention to Bitcoin and other cryptocurrencies.
As more and more people invest their funds in Bitcoin, people have become less optimistic and believe that buying and holding them now can get higher prices. The “hodlers” are abandoned because these institutions lack confidence in the long-term value of assets. However, this sentiment will soon fade away. The rise of “arbitrage trading” has surprised many people, with some saying, “Did you know? I used to think the same way.” Of course, many industry insiders have pointed out that the reason why Bitcoin has been able to rise and fall is due to its high volatility. For example, after breaking through the $30,000 mark in June this year, Bitcoin has been declining. At the end of January, it reached a historical high of nearly $20,000, then quickly dropped to around $13,200, and even briefly exceeded $9,000 in mid-November. Therefore, many people speculate that Bitcoin may reach a new high in the future. However, some analysts believe that Bitcoin’s trend is completely different from that of traditional financial markets. Since late October 2017, Bitcoin’s price has been consolidating.Source: zycrypto (translated by BluemountainLabs)
This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/24581.htm
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
United States Government Investigates Possible Anti-Money Laundering Violations and Lack of Registration in Cryptocurrency Company
According to reports, people familiar with the matter said that the United States Department of Justice was already investigating the company for possible viol…
-
What is electronic Cryptocurrency (electronic crypto art)
What is electronic Cryptocurrency and what is electronic Cryptocurrency? According to the International Institute of Finance (IIF), the total market value of Bitcoin and Ethereum has declined by 80% since 2013. However, over time, this situation has changed – from less than $10 million in January 2017 to a historical high of over $10 billion in early 2018 Although this is not the first time that a digital asset issued by a central bank has been widely adopted and controversial, it also brings an interesting result: unlike traditional payment systems, through blockchain technology, users can use their digital wallets for transactions without intermediaries or agents, so these platforms do not rely on traditional third-party service providers or banks to complete business operations, But using blockchain technology to achieve this goal. If we make payments to anyone using cash, credit card, or debit card, they can receive payments online. In addition, “digital currency based on blockchain technology” is a new form…
-
“OCC Launches New FinTech Office to Address Emerging Technologies in Banking”
According to reports, the Office of the Comptroller of the Currency (OCC) of the United States has announced the establishment of a new financial technology office to adapt to tech
-
Binance US Acquisition of Voyager to be Approved as Judge Rejects SEC’s Objections
It is reported that the judge rejected the objection of the SEC and other regulatory agencies to the acquisition of Voyager by Binance US at the hearing, and c…
-
ConsenSys has opened the Ethereum Shanghai upgrade commemorative NFT public version casting window, which will last for 72 hours
On April 13th, it was announced that ConsenSys has now opened the Ethereum Shanghai upgrade commemorative NFT series \”Ethereum, Evolved: Shanghai\” public versio
-
US Stock Indexes Take a Dip Led By Banking & Insurance
According to reports, the three major US stock indexes collectively ended lower, with the Dow down 1.2%, the Nasdaq down 0.74%, and the S&P 500 index down 1.1%.
-
Moonbirds Series NFTs: An Overview of the Latest Sales Volume
According to reports, according to NFTScan data, the Moonbirds series NFTs have sold 246 ETHs in the past 24 hours, with an average transaction price of 2.43 ET
-
A Look at the A-Share Market Open: Gains and Losses in Various Indices
According to news, the A-share market opened with the Shanghai Composite Index closing at 3253.62 points, up 0.25%, the Shenzhen Composite Index closing at 1158
-
Saison Capital sets up a new token fund to accelerate investment in the Web3 field
On April 5th, Credit Saison\’s investment agency, Saison Capital, announced the establishment of a new token fund to accelerate investment in the Web3 sector in
-
Digital Rupees: The Future of Transactions in India?
According to reports, two people familiar with the matter stated that the goal of the architect of the Retail Bank of India\’s Digital Currency (CBDC-R) is to ex