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.
While the cryptocurrency world is wondering if the declines will continue, Matt Hougan, a manager at Bitwise, one of the companies that also has a Bitcoin Spot ETF product, described what has happened as a “strange period”, said that the long-term trend is good and that he thinks bitcoin will exceed $100,000 by the end of the year.
The wallet, which is affiliated with the German state, started Friday morning fast. The Germans sent 2700 BTC worth $155 million to exchanges and market maker companies.
While positive US inflation figures failed to spark a Bitcoin rally, analysts at CryptoQuant said that short-term investors, rather than the German government’s sell-off, have had an impact on recent declines.
The German state started Thursday’s sales. Especially this week, the German government, which has made a very serious amount of sales this week, has more than 2300 BTC out of its wallet.
CPI data in the US will be released today at 15:30. Expectations are for annual inflation to fall to 3.1% from 3.3% in May… Today’s figures will also be important for whether the Fed prefers September for rate cuts.
Donald Trump, known for his recent support for cryptocurrencies, will give a speech at the Bitcoin Conference to be held this month in Nashville, USA.
Singapore-based crypto trading firm QCP Capital said in its analysis today that Fed chair Jerome Powell’s remarks, coupled with positive inflation figures tomorrow, suggest rate cuts in September and December are on the horizon. Analysts also pointed out that Bitcoin remained strong despite the huge selling pressure.
Bernstein, which has more than $750 billion worth of assets under management, wrote a report in which it reiterated its $200,000 Bitcoin forecast for the end of 2025, while stating that it followed 2 Bitcoin mining companies for its clients and will make evaluations about these companies in its next reports.
The German government, which has sold 50 thousand units of Bitcoin since June 19, started Wednesday with new transfers. More than 5800 BTC worth $340 million were sent to market makers and exchanges.
While Bitcoin is pushing the $60,000 levels again this morning, CryptoQuant CEO Ki Young Ju pointed to miners for the price movement. Ju, who also shared the Puell Multiple chart showing miner profitability, said, “Crypto markets to be boring for the next 2-3 months. Stay long-term bullish but avoid excessive risk.”