Recent price trend of bitcoin
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On March 1, according to CNBC, a US financial website, Tom Lee, a Wall Street expert and founder of fundstrat, a securities research firm, said that the price of bitcoin is expected to double to US $20000 (US $130000) in the middle of this year; By the end of this year, the price of bitcoin will hit $25000
in the past few weeks, the price of bitcoin has fallen below $6000, the lowest level since November last year, and then it has rebounded
according to the data of coinmarketcap, the market value of all cryptocurrencies, excluding bitcoin, has dropped from a high of $511 billion in early January to about $270 billion. Recent headlines about big companies entering the cryptocurrency sector have also helped prices rise
however, the fluctuation of bitcoin is very big. Some analysts said that the price of bitcoin may return
you can go to coin easy to have a look and learn more about the coin circle.
Bitcoin was born in January 2009, on November 29, 2017, the price of bitcoin exceeded US $10000 for the first time , with a market value of nearly US $170 billion, and climbed to an all-time high of US $20000 on December 19. Since then, bitcoin prices have fluctuated sharply. In March 2018, the price of bitcoin fell below US $10000 and dropped below US $4000 at the end of the year
in April 2019, the price of bitcoin went up all the way , climbed to above $12000 in July, recovered to below $10000 at the end of August, fell below $8000 in late September, and then fluctuated between $7000 and $9000
since 2020, the price of bitcoin has broken through the 10000 yuan mark in February, then dropped below US $4000 in the next month, and has been above US $10000 since August< in the morning of November 6, the price of bitcoin was close to US $16000 , and the unit price had exceeded RMB 100000, up 12% in 24 hours. Compared with the lowest price in March 2020, the price of bitcoin has increased by nearly 300%
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bitcoin has a strong scarcity:
unlike all currencies, bitcoin does not rely on a specific monetary institution to issue, it is based on a specific algorithm, through a large number of calculations, Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of money circulation
the decentralized feature and algorithm of P2P can ensure that it is impossible to artificially control the value of bitcoin by mass manufacturing. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity
