$2.39T
Total marketcap
$175.97B
Total volume
BTC 50.30%     ETH 16.97%
Dominance
Bitcoin

Bitcoin BTC Price

$61,143 -0.3666%
  • ETH 19.17
ICO Price
ROI
FDV
$1.28T
Market cap
$1.2T
Low - High [24h]
$60,562 - $63,435
Vol [24h]
$63.45B
Cur - Max Supply
19.64M - 21M

Bitcoin Price chart

Sorry, that's all we've gotfor now...

Statistics

Bitcoin Price $61,143 All-time high $69,045 Days since ATH 842
Price change -$224.9 (-0.3666%) Date of ATH Nov 10, 2021 % of ATH 88.62%

Bitcoin Review

Bitcoin (code: BTC, symbol: ₿)

| | | | |

Founded Date: January 9, 2009

Founders:

Satoshi Nakamoto
Satoshi Nakamoto
Original author

Bitcoin(BTC) - Coin Trading Data

Bitcoin Price $61,143
Ticker BTC
Market Capitalization $1.2T
Value 24h low $60,562
Value 24h high $63,435
Trade Volume for 24h $63.45B
Current Circulating Supply 19.64M
Maximum Supply 21M
Algorithm
ICO Price and ICO ROI
Price Change 24h % -0.3666%
BTC quote $61,143

Bitcoin(BTC) ATH - All Time High Price

Bitcoin ATH Price $69,045
Days Since ATH 842
ATH Date Nov 10, 2021
All Time High % 88.62%

Bitcoin Profile

Bitcoin is a decentralized transaction-based payment system with the currency of the same name, also known as cryptocurrency. The concept of this system was made public in November 2008 on the Internet by its author named Satoshi Nakamoto, who published the code of the client program only a year later.

Nowadays bitcoin development is managed and coordinated by a large group of developers. Bitcoins exist only as records in a distributed Blockchain database, in which all transactions are stored in a publicly available, unencrypted form, with the bitcoin sender/receiver addresses, but without information about the real owner of those addresses.

Specificity and Function of Bitcoin

The concept of Bitcoin was to make a decentralized currency that would not have anything to do with banks. When you make a money transfer through any bank, it tracks everything from the withdrawal of your money from your account to making your transfer.

But when you buy or transfer bitcoins, all processes are performed without a human intermediary, and all transactions on the bitcoin network are recorded in a distributed data registry called blockchain, a copy of which is stored in a full node connected to the global bitcoin network. The blockchain data is regularly verified using the Proof-of-Work consensus algorithm.

Proof of work (PoW) is a form of cryptographic proof in which one party (the prover) proves to others (the verifiers) that a certain amount of a specific computational effort has been expended. Verifiers can subsequently confirm this expenditure with minimal effort on their part. The concept was invented by Moni Naor and Cynthia Dwork in 1993 as a way to deter denial-of-service attacks and other service abuses such as spam on a network by requiring some work from a service requester, usually meaning processing time by a computer. The term "proof of work" was first coined and formalized in a 1999 paper by Markus Jakobsson and Ari Juels.

Wikipedia
Example of a bitcoin block in JSON format

Every electronic payment system is supposed to store transactions in some way. In Bitcoin, all information is stored in a chain of blocks.

  • Blocks are transmitted in JSON format.
  • Each block contains a header and a list of transactions. The header consists of several properties, including the hash of the previous block.
  • This way, the whole block chain stores all the transactions for the entire time Bitcoin has been functioning.

In current versions of Bitcoin, the blockchain is downloaded entirely by each client, which makes the system completely decentralized. The data is not encrypted in any way and anyone can manually trace all transactions. There is even a special website called Bitcoin Block Explorer where one can easily see all the information about blocks and transactions.

For calculations in the bitcoin network, it uses the unit of the same name "Bitcoin" (BTC), which is the first and best-known cryptocurrency. Since its creation, bitcoin remains the largest cryptocurrency by its market capitalization.

Subunit
1⁄1000
1⁄1000000
1⁄100000000
Name
millibitcoin (mBTC)
microbitcoin
satoshi (sat)

If you look globally, Bitcoin is the very first cryptocurrency and the first technology that essentially established the concept of private property in the digital space. Property in the real world has a very limited default value and can lose its worth, can always be challenged in court, and so on. But the digital private property, in theory, has absolutely no limitations and no boundaries.

Advantages of Bitcoin over Fiat Currency

Bitcoin has a number of fundamental differences compared to conventional money:

  • Decentralization: a central body of control just do not exist, as the control is distributed to all participants.
  • Ease of use and owner confidentiality: it takes you about a minute to create a bitcoin wallet, and you don't have to provide any personal information.
  • Transparency: Bitcoin stores all the history of transactions that ever took place.

It is also very practical and profitable thanks to:

  • Small commission.
  • High transfer speed.
  • High protection.
  • No risk of economic crises and legislative changes.

History of Bitcoin

  • In January 2009, the first version of the payment system software appeared on the Internet. Initially, the currency was only used by computer geeks.
  • On May 22, 2010, Florida programmer Laszlo Hanich first performed a documented bitcoin exchange for a real object, transferring 10,000 units of cryptocurrency to a user under the pseudonym Jerocs and getting two pizzas from him.
  • Since mid-2010, Nakamoto stopped participating in bitcoin development. After that, the developer community is now responsible for the further development and coordination of the network.
  • The first exchanges where bitcoins could be exchanged for real currency appeared on the Internet in 2010-2011. In the spring of 2011, bitcoin reached equal value with the U.S. dollar.
  • Since 2011, this payment system has attracted the attention of drug traffickers and other illegal businesses because of the anonymity of the transactions. Since 2013, bitcoins can be used to pay for services and goods in several online stores and hotel booking services.
  • In 2013. The University of Nicosia was the first university that began accepting bitcoins as a payment for tuition.

In mid-2010, Nakamoto stopped participating in bitcoin development. After that, the developer community is now responsible for the further development and coordination of the network.

New bitcoins are generated whenever a new block is successfully mined in its network. The frequency of creation of such blocks is constant: six units per hour. The amount of reward per block, and therefore the rate at which new bitcoins are issued, periodically decreases as a result of the so-called halving, which takes place every four years.

Event
Date
Block Number
Block Reward
BTC supply in circulation
Bitcoin launch
Jan 3, 2009
0 (Genesis block)
50
50%
First Halving
Nov 28, 2012
210,000
25
75%
Second Halving
Jul 9, 2016
420,000
12.5
87.5%
Third Halving
May 11, 2020
630,000
6.25
93.75%
Fourth Halving
Expended by 2024
840,000
3.125
96.875%
Fifth Halving
Expended by 2028
1,050,000
1.5625
98.4375%

The first exchanges where bitcoins could be exchanged for real currency appeared on the Internet in 2010-2011. In the spring of 2011, bitcoin reached equal value with the U.S. dollar.

Since 2011, this payment system has attracted the attention of drug traffickers and other illegal businesses because of the anonymity of the transactions. Since 2013, bitcoins can be used to pay for services and goods in several online stores and hotel booking services. In 2013, The University of Nicosia was the first university that began accepting bitcoins as payment for tuition.

Bitcoin Mining

Bitcoin mining, roughly speaking, is the process of creating new blocks of the first cryptocurrency's network, based on computers solving complex mathematical problems.

Bitcoin Miner Bitmain S19 Pro
Bitcoin Miner Bitmain S19 Pro

The reward for mining is new bitcoins. Bitcoin mining involves people and organizations making calculations using special devices and as a result creating new blocks. For this work, miners are rewarded by the network with new coins.

In addition, hardware requires a lot of electricity and additional cooling for the system. The growing complexity of the network and decreasing rewards have also led to the fact that it is not profitable to mine bitcoin by yourself now. To be able to participate in mining and earn rewards, individual miners join together to form mining pools.

Mining Pools

Mining pool is the combined power of the equipment of several "miners" at once, which increases the probability of finding a block. Rewards are divided among all participants. Usually, to work together productively, a mining pool appoints special coordinators.

The market share of the bitcoin mining pools
The market share of the most popular bitcoin mining pools (12.2022)
Pool
Hashrate Share
Hashrate
Blocks Mined
NETWORK
100.00 %
250.58 EH/s
388
AntPool
22.68 %
56.83 EH/s
88
Foundry USA
22.68 %
56.83 EH/s
88
F2Pool
14.43 %
36.17 EH/s
56
Binance Pool
14.18 %
35.52 EH/s
55
ViaBTC
10.82 %
27.12 EH/s
42

They monitor all organizational moments, and they are also responsible for distributing rewards. Rewards are divided according to calculations related to the amount of work performed by each participant.

The difficulty of transfers creates additional risk for Bitcoin investors because of the high transaction costs. Also, they are troublesome because they are energy intensive. That's why Bill Gates called Bitcoin an unsustainable tool: it causes high electricity consumption and increased heat generation. At the same time, the difficulty of translations helps miners, who have acquired powerful equipment.

Bitcoin's Downfall

Bitcoin began to quickly lose value in the first half of May 2022. On May 10, 2022 bitcoin rate fell below $30,000 according to Binance, a cryptocurrency exchange. One of the main factors that regularly influenced bitcoin's fall was the U.S. Federal Reserve's tightening of monetary policy. At the last meeting, in September 2022, the Federal Reserve raised its key rate for the fifth time in a row, to 3-3.25%. This has affected the global exchange system, including the cryptocurrency market because fear of uncertainty is forcing a lot of investors to convert their money into fiat assets.

At the last meeting, in September 2022, the Federal Reserve raised its key rate for the fifth time in a row, to 3-3.25%. This has affected the global exchange system, including the cryptocurrency market because fear of uncertainty is forcing many investors to convert their money into fiat assets.

Bitcoin's Future

Bitcoin is having a hard time nowadays, but many things indicate that this is just a temporary fall. The approval of the regulation of stablecoins in the United States will be an important event that is good for the growth of the crypto market.

"With coming regulation, bitcoin will grow..."

"It has nothing to do with bitcoin, but a lot to do with the regulatory tone. And the reason why I believe that is because the government has plans to solve problems that have been created as a result of algorithmic stablecoin crash..."

U.S. billionaire businessman Kevin O'Leary on the YouTube channel Crypto Banter

The Stablecoin Transparency Act mentioned by the billionaire has already been introduced in the Senate. It not only fixes the concept of stablecoin but also forces all issuers of such cryptocurrencies to have reserves to support them.

"The development and general acceptance of cryptocurrency technology is unstoppable..."

U.S. Senator Cynthia Lummis

Q&A For Bitcoin Cryptocurrency

How much is a one Bitcoin worth now?

1 Bitcoin worth $61,143 now.

What is the price of BTC?

The price of BTC is $61,143.

What is the Bitcoin max supply?

The max supply of Bitcoin is 21M.

What is the Bitcoin stock symbol or ticker?

The stock symbol or ticker of Bitcoin is BTC.

How many BTC coins are there in circulation?

There are 19.64M coins in circulation of BTC.

What is the exchange rate of Bitcoin(BTC)?

The exchange rate of Bitcoin is $61,143.

What was Bitcoin's trading volume in 24 hours?

Bitcoin's 24-hour trading volume is $63.45B.

What was the highest price paid for Bitcoin?

Bitcoin reached a record high of $69,045 on Nov 10, 2021

Bitcoin Exchange Rates on Trading Markets

# Exchange Pair Price 24h volume Volume % Updated
1 Binance Binance BTC/FDUSD $61,270.67 $8.7B 11.4% 9 minutes ago
2 Binance Binance BTC/USDT $61,186.54 $4.63B 6.06% 2 minutes ago
3 FTX TR FTX TR BTC/USD $59,782.66 $3.94B 5.16% a year ago
4 OrangeX OrangeX BTC/USDT $61,214.13 $3.89B 5.09% 15 minutes ago
5 Bybit Bybit BTC/USDT $61,150.23 $2.22B 2.91% 40 seconds ago
6 WhiteBIT WhiteBIT BTC/USDT $61,169.29 $2.12B 2.77% 17 minutes ago
7 Coinbase Exchange Coinbase Exchange BTC/USD $61,192.29 $2.11B 2.77% 3 minutes ago
8 Bitget Bitget BTC/USDT $61,246.62 $1.95B 2.56% 11 minutes ago
9 BitMart BitMart BTC/USDT $61,130.64 $1.85B 2.43% 8 minutes ago
10 Bitrue Bitrue BTC/USDT $61,173 $1.83B 2.39% 16 minutes ago
11 OKX OKX BTC/USDT $61,195.71 $1.19B 1.57% 19 minutes ago
12 BingX BingX BTC/USDT $61,179.35 $1.13B 1.49% 15 minutes ago
13 DigiFinex DigiFinex BTC/USDT $61,217.19 $1.13B 1.48% 14 minutes ago
14 Pionex Pionex BTC/USDT $61,171.67 $1.1B 1.45% 15 minutes ago
15 Hotcoin Global Hotcoin Global BTC/USDT $61,203.79 $1.01B 1.32% 13 minutes ago