Bitcoin Struggles: Is Altseason on the Horizon?
Market Shifts Signal New Trends in Cryptocurrency In a significant turn of events, Bitcoin is experiencing a decline in its market dominance, currently estimated at 55.80%. Analysts have noted a…
Bitcoin is a decentralized digital currency that enables peer-to-peer transactions without the need for a central authority or intermediary, such as a bank. It was created in 2009 by an anonymous entity known as Satoshi Nakamoto. Transactions are recorded on a public ledger called the blockchain, which ensures the integrity and transparency of the currency. Bitcoin can be obtained through mining, where miners validate transactions and are rewarded with new bitcoins, or purchased on various exchanges using traditional currencies. As a cryptocurrency, Bitcoin operates using cryptographic techniques to secure transactions, control the creation of new units, and verify the transfer of assets. Its limited supply of 21 million coins aims to mimic the scarcity of precious metals, which contributes to its value. Bitcoin has gained popularity as both a medium of exchange and a store of value, often referred to as “digital gold.”
Market Shifts Signal New Trends in Cryptocurrency In a significant turn of events, Bitcoin is experiencing a decline in its market dominance, currently estimated at 55.80%. Analysts have noted a…