While its popularity has been on the rise in recent years, Bitcoin remains a subject about which the majority of people still have little knowledge. Uzmancoin.com, since 2017, has been striving to provide its readers with the fastest and most accurate Bitcoin news and content to guide them.
Bitcoin, which was introduced to the market in 2009, is considered by some as a currency, by others as digital gold, and by others as an investment or speculative asset after approximately 11 years. As a highly volatile asset, Bitcoin can serve different purposes for everyone and continues to become more widespread with each passing day.
The most important feature and value proposition of the cryptocurrency, launched in 2009 by the mysterious creator Satoshi Nakamoto, is its decentralized nature. This means that the leading cryptocurrency in terms of market value is not subject to any authority. Bitcoin derives its power from this characteristic. Its production is generally carried out today with specialized hardware known as ASICs, and the supply of Bitcoin is limited to 21 million. Bitcoin can be bought and sold through cryptocurrency exchanges or ATMs.
While its popularity has been on the rise in recent years, Bitcoin remains a subject about which the majority of people still have little knowledge. Uzmancoin.com, since 2017, has been striving to provide its readers with the fastest and most accurate Bitcoin news and content to guide them.
Bitcoin, which was introduced to the market in 2009, is considered by some as a currency, by others as digital gold, and by others as an investment or speculative asset after approximately 11 years. As a highly volatile asset, Bitcoin can serve different purposes for everyone and continues to become more widespread with each passing day.
The most important feature and value proposition of the cryptocurrency, launched in 2009 by the mysterious creator Satoshi Nakamoto, is its decentralized nature. This means that the leading cryptocurrency in terms of market value is not subject to any authority. Bitcoin derives its power from this characteristic. Its production is generally carried out today with specialized hardware known as ASICs, and the supply of Bitcoin is limited to 21 million. Bitcoin can be bought and sold through cryptocurrency exchanges or ATMs.
Bitcoin, which recovered after the sharp declines at the beginning of last week, fell below $60,000 again yesterday evening. The most important factors for this week’s price trajectory will be Tuesday’s PPI and Wednesday’s CPI data in the US.
Grayscale published a report on the developments and expectations in the cryptocurrency world. In the report, it was written that if the USA does not enter recession, there is an expectation that there will be an increase in cryptocurrencies towards the end of the year, but in the opposite case, it is thought that the declines will not deepen much. The report also opened a separate parenthesis to the Ether sales of large companies.
Bloomberg’s ETF analyst Eric Balchunas said earlier this week that the declines in the financial world had much less impact on Bitcoin spot ETFs than he expected, especially the resilience of BlackRock investors seriously surprised him.
JPMorgan analysts evaluated Bitcoin’s decline from $70 thousand to $49 thousand in a week and its rise again. Analysts stated that institutional investors did not go to risk reduction despite the declines, and under this is the confidence in Bitcoin.
The Japanese company Metaplanet has once again announced a loan agreement for the purchase of Bitcoin. The company received a 1 billion yen loan from a shareholder firm. It was noted that the loan will be made almost entirely for the purchase of Bitcoin.
In the crypto world, where $1.1 billion of positions were liquidated on Monday, investors have now started to take positive steps forward. In both US and non-US exchanges, traders started to buy Bitcoin contracts that give the right to sell at $100 and $90,000 towards the end of this year.
While the crisis in the world markets on Monday seems to have settled for the moment, the crypto trading company Cumberland transferred $95 million USDT from the Tether Treasury to 4 platforms.
Stating that 400 thousand BTC were moved to ‘permanent holder’ addresses, CryptoQuant CEO Ki Young Ju wrote, ‘I’m pretty sure something is happening behind the scenes.”
While the world financial markets were discussing whether Monday’s big declines were over, an important analysis came from the Singaporean analysis and trading company QCP. In today’s analysis, the company stated that the interest rate policies of the Fed and the Bank of Japan should be clearly seen to understand whether the crisis is over. QCP also claimed that an emergency Fed cut would end all confidence in the institution.
Cryptocurrency funds completed last week with a net loss of $528 million. Bitcoin funds saw outflows of $400 million and Ether funds $146 million.