
Bitcoin priceBTC
Bitcoin price calculator
More cryptocurrencies calculator >Bitcoin price live data summary
What is the highest price of BTC?
What is the lowest price of BTC?
When is a good time to buy BTC? Should I buy or sell now?
Bitcoin price performance in USD
Bitcoin price history in USD
Bitcoin market information

Bitcoin ratings
About Bitcoin
What Is Bitcoin?
In 2008, a groundbreaking paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" was published by an anonymous author known as Satoshi Nakamoto. This paper laid out the fundamental principles of Bitcoin, presenting it as a decentralized digital currency that allows for peer-to-peer transactions. A year later, in 2009, Satoshi Nakamoto mined the first "block" of the Bitcoin blockchain and received 50 bitcoins as a reward, marking the official launch of Bitcoin.
What sets Bitcoin apart from traditional currencies like the U.S. dollar is its lack of a centralized authority. Unlike fiat currencies, which are issued and regulated by governments and managed by financial institutions, Bitcoin operates without any centralized control. There are no banks to manage accounts, no institutions to verify transactions, and no governments issuing the currency.
Instead, Bitcoin relies on a global network of thousands of computers to validate and record transactions. These network nodes use advanced cryptographic techniques to verify transactions, which are then added to a publicly accessible, distributed ledger known as the blockchain. This decentralized approach allows anyone to participate in the Bitcoin ecosystem, contributing to its security and transparency.
Resources
Whitepaper: https://bitcoin.org/bitcoin.pdf
Official website: https://bitcoin.org/en/
How Does Bitcoin Work?
Bitcoin is a revolutionary financial system underpinned by decentralized verification, cryptographic security, and mathematical principles. Unlike traditional banking systems, which are centralized, Bitcoin relies on a network of nodes to validate and record transactions on a public ledger known as the "blockchain."
The Role of Blockchain in Bitcoin Transactions
In essence, a blockchain is a continuously growing chain of blocks containing transaction details. Each block has a cryptographic hash of the previous block, serving as a unique and irreversible fingerprint. This chain ensures data integrity, thwarting any attempts to alter previous transaction records.
When Sender A transfers Bitcoin to Receiver B, this transaction is publicly recorded on the blockchain, making details like the sender, receiver, and the amount of Bitcoin transferred accessible to anyone. The blockchain system eschews the need for a centralized institution; instead, it offers rewards in Bitcoin to those who validate these transactions.
Secure and Transparent Transactions Through Proof-of-Work
The Bitcoin blockchain employs a consensus mechanism called "Proof-of-Work" (PoW) to safeguard its integrity. PoW requires participants, known as miners, to solve complex mathematical problems in order to validate transactions and add them to the blockchain. This proof system ensures that all transactions on the blockchain are legitimate.
A Practical Example: How Alice Sends Bitcoin to Bob
For instance, let's consider Alice wants to send 1 BTC to her friend Bob. To complete this transaction, several conditions must be met:
- Verification of Alice's solvency to ensure she owns sufficient Bitcoin.
- Recording the transaction details in the blockchain, accessible to every participant in the Bitcoin network.
Miners, who are distributed globally and equipped with varying degrees of computing power, compete to solve the complex mathematical problem related to Alice's transaction. The first miner to crack it gains the privilege of adding the transaction to the blockchain. As a reward for this computational effort, the miner receives newly minted Bitcoins.
Bitcoin As A Store Of Value
A Digital Store of Value Comparable to Gold
Bitcoin has cemented its status as a digital store of value, drawing parallels with gold, a traditional store of value. Like gold, Bitcoin boasts a finite supplyāonly 21 million bitcoins will ever exist. This scarcity makes it an attractive asset for individuals and institutions looking to preserve wealth and hedge against inflation or economic uncertainty.
Unlike fiat currencies such as the US dollar or euro, which are governed by central banks and state authorities, Bitcoin operates in a decentralized environment. This autonomy frees it from governmental oversight, inflationary measures, and political manipulation. In other words, it offers users complete control over their assetsāa feature highly valued in the cryptocurrency realm.
What Makes Bitcoin Valuable?
Bitcoin goes beyond being just a digital currency; it fulfills the four essential criteria that define money:
- Scarcity (Rare): With its fixed supply of 21 million coins, Bitcoin's rarity is encoded in its algorithm.
- Medium of Exchange: Accepted by a growing number of merchants and platforms, Bitcoin facilitates the buying and selling of goods and services.
- Unit of Account: Though not yet as stable as traditional currencies, Bitcoin is increasingly used to represent the value of other assets.
- Store of Value: Its decentralized nature and scarcity make it a long-term preservation of wealth.
Given these attributes, Bitcoin has earned its nickname as "digital gold," standing as a reliable store of value in a rapidly evolving financial landscape.
What Is Bitcoin Mining?
Bitcoin mining plays a pivotal role in both creating new bitcoins and validating transactions on the network. This process relies on miners who utilize specialized hardware to solve complex mathematical equationsāknown as Proof-of-Work (PoW)āin a decentralized manner.
In the nascent stages of Bitcoin, ordinary computers sufficed for mining activities. However, the escalating complexity of the cryptographic puzzles and the growing network have made specialized hardware imperative. Application-Specific Integrated Circuits (ASICs) are now the go-to hardware for miners who are serious about their operations.
Presently, mining is often centralized in large-scale enterprises and mining pools. These entities contribute massive computational power, thereby maintaining the security and integrity of the Bitcoin blockchain. In return, they receive newly minted bitcoins and transaction fees as rewards.
When is the Next Bitcoin Halving?
Approximately every four years, or after 210,000 blocks are mined, the Bitcoin network undergoes a critical event known as a "halving." This halving cuts the mining rewards in half, effectively decreasing the rate of new Bitcoin entering the market. These events have historically acted as catalysts for significant price movements and are closely watched by investors, traders, and miners alike.
The Bitcoin network has undergone three halvings to date: in 2012, 2016, and 2020. Each of these milestones has ignited an economic frenzy, sending Bitcoin's price to new heights. After the 2012 halving, Bitcoin's price went from around $12 to over $1,100 within a year. The 2016 halving event saw Bitcoinās price surge from $650 to a staggering $20,000 in 2017. The most recent 2020 halving set the stage for Bitcoin's remarkable ascent to nearly $69,000 in 2021.
Looking ahead, the next Bitcoin halving is set for 2024 and is already generating buzz within the crypto community. Miners are preparing for their rewards to decrease from 6.25 to 3.125 Bitcoin per block. While it's impossible to predict the exact impact with certainty, historical data suggests that a contraction in supply, against a backdrop of consistent or increasing demand, could potentially ignite another crypto market bull run.
External factors such as regulatory changes and technological advancements can also influence the market, adding layers of complexity to any predictions.
Crypto analysts and enthusiasts are actively debating the likely outcomes of the 2024 Bitcoin halving, with many believing it could serve as the catalyst for the next major surge in the cryptocurrency market. This belief is fueled by the market's cyclical nature and its propensity to skyrocket post-halving. For example, the total cryptocurrency market capitalization stood at approximately $10 billion around the 2016 halving and ballooned to over $800 billion by the end of 2017. In a similar vein, the total market cap catapulted from roughly $250 billion in May 2020 to a jaw-dropping $2.5 trillion in May 2021 following the 2020 halving.
If past performance is any indicator, the period following the 2024 Bitcoin halving could be a transformative time for the crypto market at large. As always, it's essential to keep an eye on external market factors and tread cautiously, given the inherently volatile nature of cryptocurrencies.
The Transformative Impact of Bitcoin on Financial Systems
Decentralizing the Financial Landscape
Bitcoin, the pioneering digital currency, has fundamentally altered the landscape of traditional finance by offering a decentralized alternative to conventional banking and payment systems. With the capacity to enable rapid, cost-effective, and borderless transactions, Bitcoin has become indispensable for international remittances and global trade, circumventing the lengthy processing times and exorbitant fees associated with mainstream financial institutions.
Driving Innovation in Financial Products and Services
The rise of Bitcoin has also spawned a plethora of financial innovations, ranging from cryptocurrency exchanges that facilitate the buying and selling of digital assets, to digital wallets designed for secure storage and easy access to cryptocurrencies. Furthermore, Bitcoin's underlying blockchain technology has given birth to decentralized finance (DeFi) platforms. These platforms offer decentralized lending, borrowing, and asset management, broadening the scope for financial inclusion and enabling individuals around the world to access financial services without the need for intermediaries.
Expanding Financial Inclusion and Empowerment
Bitcoin has not just reshaped finance for the privileged few but has opened up new vistas for financial empowerment and inclusion worldwide. Even those without access to traditional banking systems can leverage Bitcoin and its affiliated services to partake in global commerce, invest in assets, and even secure loans. This increased accessibility makes Bitcoin a driving force in leveling the financial playing field globally.
Conclusion
Bitcoin has proven itself to be more than just a digital currency; it's a revolutionary force that's redefining our approach to money and finance. As a decentralized, secure digital asset, Bitcoin allows individuals unprecedented control over their financial transactions and wealth management. With its finite supply and growing adoption rates, it is steadily gaining acceptance not just as a medium of exchange but also as a credible store of value. In summary, Bitcoin continues to disrupt traditional financial systems while simultaneously offering a more inclusive and empowering alternative.
Related Articles about Bitcoin
What is Bitcoin? The Ultimate and Simple Guide for Crypto Beginners
Bitcoin 101: Bitcoin Value and Price
Journey into the Crypto-Verse: Your Beginner's Guide to Bitcoin Trading on Bitget
Trading101: The Ultimate Guide to Bitcoin Futures Contracts on Bitget
Answers to The Most Common Bitcoin-related Questions
Short-selling Bitcoin: This is How It Works!
Short-selling Bitcoin ā How to Profit From Bear Markets
What Is the Bitcoin Bull Market Support Band?
7 Countries That Recognize Bitcoin as Their Legal Currency (and Why)?
Bitcoin Halving 2024: A Turning Point in the Crypto Economy?
Pizza Worth Millions: Celebrating Bitcoin Pizza Day and Its Significance for Crypto Investors
Bitcoin Block Size War - A Civil War Without A Truce
BTC to local currency
Crypto calculator- 1 BTC to USD$38,733.54
- 1 BTC to JPY38733.535
- 1 BTC to VND38733.535
- 1 BTC to RUB38733.535
- 1 BTC to EUR (EspaƱol)38733.535
- 1 BTC to TRY38733.535
- 1 BTC to EUR (Italiano)38733.535
- 1 BTC to EUR (FranƧais)38733.535
- 1 BTC to EUR (Deutsch)38733.535
- 1 BTC to CNY38733.535
- 1 BTC to TWD38733.535
- 1 BTC to EUR (PortuguĆŖs)38733.535
- 1 BTC to IDR38733.535
- 1 BTC to THB38733.535
- 1 BTC to PLN38733.535
- 1 BTC to UAH38733.535
- 1 BTC to SEK38733.535
- 1 BTC to UZS38733.535
How to buy Bitcoin (BTC)
Trade BTC perpetual futures
After having successfully signed up on Bitget and purchased USDT or BTC tokens, you can start trading derivatives, including BTC futures and margin trading to increase your income.
The current price of BTC is $38,733.54, with a 24h price change of +1.09%. Traders can profit by either going long or short onBTC futures.
Bitcoin Social Data
In the last 24 hours, the social media sentiment score for Bitcoin was 0, and the social media sentiment towards Bitcoin price trend was Bearish. The overall Bitcoin social media score was 642,391,707, which ranks 1 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 693,510 times, with Bitcoin being mentioned with a frequency ratio of 31.99%, ranking 1 among all cryptocurrencies.
In the last 24 hours, there were a total of 9,363 unique users discussing Bitcoin, with a total of Bitcoin mentions of 221,840. However, compared to the previous 24-hour period, the number of unique users increase by 39%, and the total number of mentions has decrease by 4%.
On Twitter, there were a total of 12862 tweets mentioning Bitcoin in the last 24 hours. Among them, 50% are bullish on Bitcoin, 5% are bearish on Bitcoin, and 45% are neutral on Bitcoin.
On Reddit, there were 0 posts mentioning Bitcoin in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 0% . Additionally, there were 0 comments mentioning Bitcoin. Compared to the previous 24-hour period, the number of mentions decrease by 0%.
All social overview
0