As of January 20, 2025, Bitcoin (BTC) is trading at $102,461.00, reflecting a 2.18% decrease from the previous close. The intraday high reached $106,307.00, with a low of $99,539.00.
Bitcoin, introduced in 2009 by the pseudonymous Satoshi Nakamoto, is the first decentralized digital currency. It enables peer-to-peer transactions without intermediaries, relying on a public ledger called the blockchain. The total supply is capped at 21 million BTC, with approximately 19.59 million in circulation as of January 2024.
In March 2024, Bitcoin's price surged to an all-time high of $73,794.00, influenced by the U.S. Securities and Exchange Commission's approval of exchange-traded funds (ETFs) tracking Bitcoin's price.
This regulatory development signaled increased institutional acceptance, contributing to Bitcoin's price appreciation.
April 2024 marked Bitcoin's fourth halving event, reducing the block reward from 6.25 to 3.125 BTC. Halving events, occurring approximately every four years, decrease the rate at which new bitcoins are generated, historically leading to price increases due to reduced supply.
Despite its growth, Bitcoin remains volatile, with price fluctuations influenced by regulatory changes, macroeconomic trends, and technological developments. Investors are advised to stay informed and exercise caution, considering Bitcoin's inherent volatility and the evolving regulatory landscape.
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