Bitcoin shakes, but does not fall
Despite, therefore, the fall in the price of Bitcoin since the end of 2021, the number of wholecoiners (number of wallets holding bitcoins) is still in an upward trend, and has never suffered a drop since the genesis block (date of placing on the BTC market in 2009). Today, 867,437 addresses have one or more Bitcoins, there are also, since January 1, 52,881 new wallets. It is also possible to buy only one tenth of BTC (0.01 BTC), and the number of wallets in this case is currently increased to 3,613,643 worldwide. These figures, coupled with the 57% decline in the price of BTC since November, underscore investors’ belief in a long-term upturn in the digital currency.
BTC miners at an impasse?
If new miners are embarking on the adventure of Pow (Proof of work), and have started to mine Bitcoins since the beginning of the downtrend, some of them can no longer withstand the fall. Indeed, mining BTC requires having strong kidneys, an excellent source of electricity.
When will Bitcoin price go up?
If the BTC continues to remain in this period described as stagflation, few people doubt its recovery, but some, like Binance, are positioning themselves on an uptrend which will only return around 2024, and in particular at the time of the Bitcoin Halving. . This event, registered in the Bitcoin production protocol, takes place every 4 years and invites miners to halve the number of BTC produced. The last bitcoin halving, in 2020, the number of BTC produced per blockchain went from 12.5 to 6.25. It is certain that in 2024 it will increase to 3.125. This decrease in BTC leads to a guaranteed increase in its value linked to its rarity. The goal is to arrive within a few years to no longer have Bitcoins produced, hence their importance in the future.
How to buy Bitcoin?
Being able to acquire Bitcoin thus takes on its full meaning. In the long term, BTC will be so rare that it can be compared to a precious metal (platinum). Its value will only be greater, and buying today could, for many small investors, mean a substantial profit in the long term. To take advantage of this type of opportunity, simply use the services of active crypto professionals such as online trading sites such as AvaTrade. This broker provides access to Metatrader 5, a state-of-the-art interface that allows investors to speculate on all assets on the planet, including cryptocurrencies. Metatrader 5 (MT5), helps traders to buy online, in the financial markets, in real time. It can also be configured to follow buy/sell orders following the prices (downward/upward trend) of assets that interest traders and above all, it gives the opportunity to follow the actions of the biggest traders by tracing the trader’s orders on theirs so as to be certain of making the best online operations.
Bitcoin may have lost value, but investors still have confidence in this crypto asset which, if on a downward slope, is set to rise again in a few months thanks to its halving. Investing in BTC today, and in all other crypto-currencies, represents a financial operation that will bring profits, but over the long term.
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