The Bitcoin (BTC) price is definitely the best indicator for the general tendencies of the market, as well as a benchmark for the entire cryptocurrency space. Since its launch in January 9th 2009, Satoshi Nakamoto's invention has single-handedly promoted the use of a public blockchain to solve the double-spend problem.
Therefore, without Bitcoin there would be no blockchain industry to speak of, no altcoins, and only a brief history of attempts to create electronic money (such as ecash, b-money, and bit gold).
There are plenty of reasons to feel bullish about Bitcoin's price: the limited supply of 21 million, the immutability and uncensorability of transactions, the Lightning Network's huge potential for instant payments, the privacy improvements (Chaumian CoinJoin, sidechains, and potentially Confidential Transactions), and the idea of developing a financial system where money is not issued by the central bank of any government (separating the state from money).
Currently, the Bitcoin price is mostly expressed in US dollars. But if the mission of this politically neutral digital gold succeeds, then we might soon designate value in BTC, bits, and satoshis.
Crypto Insider will constantly keep you updated with the latest developments on the price of Bitcoin (BTC), in conjunction with useful news about the latest events. Furthermore, our financial experts will perform periodic technical analysis to show you some charts that may indicate the possible price movements.
Bitcoin continued its downward trend today, seeing a price low of just over $4,800 at the time of this writing (via Blockmodo real-time data). Meanwhile, the public speculates on a price bottom, accompanied by a broad range of emotions.
Bitcoin price has been soaring recently. For many Bitcoin enthusiasts, it would not be a surprise to see a market capitalization of over 200 billions in the next two years. So what factors are contributing to driving Bitcoin price up?