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 spot ETFs, which closed all 5 trading days last week in the negative, spent yesterday uninspiring despite the rise in Bitcoin surpassing $70,000. ETFs completed the day with a net investment of $15.7 million, while Grayscale saw an outflow of $350 million. The net investment of $261 million in Fidelity turned the bad figure of the day into a positive.
Russian Finance Minister Anton Siluanov stated that cryptocurrencies should not be banned and should be regulated. Speaking to the country’s official news agency Tass, the minister said, “I am sure that (the ministry) and the Central Bank will come to an agreement”
Cryptocurrency funds closed last week in the negative for the first time after a total investment of $12.3 billion in 7 weeks. While net $942 million came out of the funds, Grayscale was again in the lead in this regard. The company’s weekly sell-off reached $2 billion.
While the cryptocurrency industry is eagerly awaiting the Bitcoin halving that will take place in mid-April, the Coinbase exchange has published a report on the subject. In the report for institutional investors, it was stated that the current halving is similar to the first halving, where Bitcoin experienced large increases before and after. The report also stated that the recent movements are similar to the time between 2018-2022.
Bitcoin, which started to give bullish signals as of yesterday evening, made a strong start to Monday morning. Surpassing the $67,700 level, the largest cryptocurrency has set its sights on the upside again as the recent Grayscale sell-offs have begun to decline.
It has been revealed to who the wallet belongs to, which has aroused curiosity by regularly receiving hundreds of Bitcoins every day since 2022.
The trading volume of put options that will expire on 29 March on the crypto options exchange Deribit was 3-fold the trading volume of call options.
ARK Invest, which regularly sold Coinbase shares this year and made more than $250 million in sales, disposed of $50 million worth of shares yesterday. The company made the sale at the peak level for this year.
Bitcoin spot ETFs continue to receive billions of dollars of investment, while the digital assets manager of the major US investment bank Goldman Sachs made a comment contrary to the general point of view. The manager stated that the rise in Bitcoin came through small investors, not institutional purchases.
JPMorgan analysts suggested that Bitcoin is still in the overbought territory. According to analysts, this is still the case despite the recent declines.