#BTC Bitcoin (BTC) is the first decentralized cryptocurrency, created in 2008 by the pseudonymous Satoshi Nakamoto.

As of December 24, 2024, Bitcoin is trading at $97,632.44 with a market cap of approximately $1.93 trillion.

Key Details

Symbol: ₿

Currency Code: BTC (or XBT)

Current Price: $97,632.44

24-hour Change: +3.03% (+$2,873.07)

Market Cap: $1.93 trillion

Circulating Supply: 19.8 million BTC

Notable Characteristics

Bitcoin operates on a decentralized network and is known for its limited supply of 21 million coins. It can be divided into smaller units like millibitcoin, microbitcoin, and the smallest unit, the Satoshi (1/100,000,000 of a Bitcoin).

Bitcoin's price is influenced by several key factors:

Supply and Demand Dynamics

Bitcoin's price is fundamentally driven by its limited supply of 21 million coins, with over 90% already mined123. The scarcity mechanism creates value as fewer coins become available.

Market Sentiment

Speculation plays a significant role, with price fluctuations often triggered by media attention.

The Fear and Greed Index impacts investor behavior, causing rapid price movements.

Social media and influential figures can dramatically affect cryptocurrency prices.

External Factors

Regulatory actions create uncertainty and price volatility.

Central bank policies, particularly Federal Reserve interest rate decisions, indirectly influence Bitcoin's value.

Geopolitical events and global economic conditions can impact investor risk appetite.

Accessibility and Liquidity

Increased adoption and investment products make Bitcoin more accessible, potentially driving its price up. Its high liquidity allows for easier trading, which can contribute to price stability and attractiveness to investors.