Bitcoin is a decentralized digital currency, often referred to as a cryptocurrency, that enables peer-to-peer transactions over the internet without the need for a central authority or intermediary. First introduced in 2009 by an anonymous entity known as Satoshi Nakamoto, Bitcoin operates on a technology called blockchain, a public ledger that records all transactions across a network of computers. Each transaction is verified by network nodes through cryptography and added to the blockchain in a secure and immutable manner.
Bitcoin is characterized by its limited supply, capped at 21 million coins, which is intended to mimic the scarcity of precious metals. It can be used for a variety of purposes, including online purchases, investment, and remittances, and is often regarded as a store of value or a hedge against inflation. Its decentralized nature allows for greater privacy and security in transactions compared to traditional financial systems. Additionally, Bitcoin has influenced the emergence of thousands of other cryptocurrencies and has garnered significant attention from investors, regulators, and the public.
Bitcoin's value has significantly declined, dropping 7% recently and 28% from its peak earlier this year. Geopolitical tensions, unpredictable tariffs, and a wavering global economy contribute to Bitcoin's volatility. Recent…
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…