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.
Arthur Hayes, one of the people closely followed by the crypto industry with his blog posts, stated that the declines that started in mid-April and continued until today were “necessary”. Hayes said, “The tourists will sit out the next phase on the beach… if they can afford it. Us…will hodl, and if possible, accumulate more of our favourite crypto reserve assets.”
Banking giant Standard Chartered claimed that the decline in Bitcoin could last up to $50,000.
While the world markets are focusing on the Fed’s interest rate decision to be announced tomorrow at 9 p.m., the markets, which were expecting 6 to 8 interest rate cuts for 2024 at the beginning of the year, now cannot even predict what the institution will do for the rest of the year. All this uncertainty has brought serious declines in cryptocurrencies and stocks.
Bitcoin, which fell below $62,000 in the morning hours yesterday but then recovered, fell back to this region at noon today. With less than 48 hours to go before April’s close, the largest cryptocurrency is about to see its 30 days with the most monthly losses since the harsh bear season in 2022…
While cryptocurrency markets await Wednesday’s Fed meeting and the statements of the institution’s chairman Jerome Powell, renowned analyst Peter Brandt set a target for Bitcoin between $160,000 and $200,000 and gave a deadline for this level.
Alliance Resource Partners, a mining company that mines millions of tons of coal a year, stated that it continues to mine Bitcoin and holds 425 BTC on its balance sheet.
Keonne Rodriguez, one of the founders of Samurai Wallet, who was arrested last week on money laundering allegations by the US Department of Justice, was released pending trial in exchange for a $1 million bond. It was stated that Rodriguez did not accept the allegations.
Ten days after the halving, an individual miner found the block on his own and was able to earn the full reward and transaction fees. The miner earned close to $220,000.
American markets entered the week with many important developments, especially the Fed decision, while Bitcoin started Monday with a decline. Bitcoin, which first fell below $63,000 in the early morning hours, dropped to $62,000. The Fed is not expected to cut interest rates in its decision on Wednesday.
Bitcoin is experiencing a sharp decline in the number of transactions both above $100,000 and over $1 million in value.