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what is bitcoin ?
Bitcoin is a digital and global money system currency. It allows people to send or receive money across the internet, even to someone they don't know or don't trust. Money can be exchanged without being linked to a real identity. ... Bitcoin was invented by someone using the name Satoshi Nakamoto . wikipedia
Bitcoin reached $22,000, for the first time in 3 years
Bitcoin broke the $22,000 barrier for the first time yesterday, hit an all-time high.
According to Reuters, the cryptocurrency jumped 4.5 percent to $22,514.60 earning more than 170 percent this year, supported by demand from large investors attracted by quick earning opportunities, reported currency resistance to inflation and expectations that it would become a popular payment tool.
The surge in Bitcoin has seen a huge currency flow into North America from East Asia, fuelled by a rush from major U.S. investors who have previously been concerned.
The rise of Bitcoin, seen by some investors as a potential safe haven, coincides with the fall in the spot price of gold in recent months.
The uncertainty of the cryptocurrency market has discouraged some investors such as hedge funds and family accounts, but tighter controls have helped allay those concerns.
The pandemic has made cryptocurrencies seem more than purely digital propaganda, with many people buying Bitcoin in large quantities, fearing that central banks led by the US Federal Reserve will devalue their currencies, increasing their price more than fourfold since March, making it one of the most important investments in 2020.
In response to the closures due to Coved-19, U.S. officials were confident that they could print the dollar in unlimited quantities without undermining the reserve currency position, allowing the country to continue to manage the huge deficit without obvious consequences. But a new category of competing currencies is emerging: cryptocurrencies. Operating on peer-to-peer networks that are not controlled by any country, the promotion of cryptocurrencies, such as Bitcoin, is then carried out by their proponents of decentralized democratic alternatives.
Since its launch in 2009, the inventors of Bitcoin have sought to establish it as "digital gold", a reliable valuable store that provides a safe haven in difficult times. But skeptics find it difficult to feel safe investing in a highly volatile asset: the last Bitcoin bubble exploded less than three years ago, and its daily price volatility is four times greater than gold.
Skeptics, especially among those who have not grown up with digital technology, tend to prefer gold, which people have been buying for hundreds of years, as protection against the decline of standard currencies.
The bullish is supported by demand for its nature, which is seen as a hedge against inflation and a general trend forecast for acceptance.
Bitcoin hit an all-time high of $19,666 in December 2017 due to a frenzied buying spree fuelled by retail investors.
The renewed outcry over Bitcoin is re-arguing about the nature of cryptocurrencies and whether they are digital gold or risky assets.
More than 90% of cryptocurrencies are owned by unknown persons, despite the market value of these currencies reaching billions of dollars, according to international research firms, which raises the reservations of the world's central banks.
The digital market is currently valued at $457.504 billion, while Bitcoin controls 65.1 percent of the market value.
Boarding Flight
Bitcoin began its terrible journey of ascent on October 21 when online payment giant PayPal announced the launch of a service that allows to "buy, save and sell virtual currencies."
"This is a stabilization of a market that was relatively uncertain years ago," said Simon Bulrot, president of the Union for the Development of Digital Assets.
Since its launch in 2008 by an unknown person, Bitcoin has offered itself an alternative to traditional currencies without controls from the central bank and is issuing a decentralized network, in a revolutionary path that has long combined traditional financial instruments with cryptocurrencies.
Bolrot said the arrival of traditional players in the Bitcoin market, including PayPal and MasterCard, gives "very important signals" of renewed interest in the virtual currency.
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