Bitcoin current price is $69,914.00.

$69,914.00

-0.05% (24H)
Low $69,030.00
High $70,585.00
  • Market Cap $1,377.37 B
  • Volume $25.78 B
  • ATH $73,738.00
  • ATH(% Change) -5.19%
  • ATH Date 2024-03-14

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Date Price Volume MarketCap

Bitcoin current price is $69,914.00 with a marketcap of $1,377.37 B. Its price is -0.05% down in last 24 hours.

About Bitcoin

What Is Bitcoin?

Bitcoin, the pioneer of cryptocurrencies, operates as a rebel in the financial landscape. Unlike traditional money, it operates independently of banks or governments and is symbolized by BTC in the market.

This distinctive digital currency has gained global popularity, making headlines in 2021 when El Salvador embraced it as a legal tender, marking a revolutionary shift in the financial world. The fluctuating Bitcoin price has captured the interest of both casual observers and serious investors.

What sets Bitcoin apart? It's not just about making digital payments; it's about redefining the process. Unlike other digital payment methods, Bitcoin doesn't adhere to conventional financial norms. No banks, no corporate giants—just individuals engaging on the blockchain. It's akin to possessing your financial superpower.

In the technical term, Bitcoin transactions occur on the blockchain instead of within the traditional financial system. This decentralized approach eliminates the need for intermediaries, creating a global party where everyone participates. And for those curious about the intricate process of Bitcoin mining, it's akin to digitally uncovering gold, contributing new Bitcoins to the ecosystem.

History Of Bitcoin

The journey of Bitcoin kicks off with the groundbreaking white paper published on October 31, 2008, by the mysterious Satoshi Nakamoto. This shadowy figure, or perhaps a group, envisioned a revolutionary peer-to-peer virtual currency for secure online transactions—enter Bitcoin. Nakamoto brought forth the innovative blockchain technology, encrypting transactions into blocks.

Fast forward to January 3, 2009, when Nakamoto mined the first Bitcoin block, the genesis block, marking the official start with a value of $0. As time passed, Bitcoin's price value soared, sparking increased mining and growing demand.

On May 22, 2010, computer programmer Laszlo Hanyecz made history by completing the first commercial Bitcoin transaction—buying two pizzas for a whopping 10,000 BTC, a deal that would be valued much higher today.

Bitcoin's journey includes significant upgrades like the 2021 Taproot Update, enhancing transaction security through innovations like Segregated Witness and the "MAST" technique.

A game-changer, the Lightning Network, is a Layer-2 protocol enhancing Bitcoin scalability and transaction speed. By leveraging this network, Bitcoin transactions become faster and more cost-effective, addressing scalability challenges.

Launched on November 14, 2021, at block 709,632, the Taproot upgrade streamlines transaction processing, making it faster, more cost-efficient, and enhancing transaction privacy.

Adding a unique twist to the Bitcoin narrative are Bitcoin ordinals or NFTs, which made their debut in January 2023. These can be seen as digital collectibles residing on the Bitcoin mining blockchain. 

Here's the interesting part: they attach information to individual satoshis, the smallest units of Bitcoin. Each satoshi carries a distinctive identity, allowing for the inclusion of various data types like text, images, audio, or videos. It's a creative and innovative way of enhancing the Bitcoin experience, bringing a touch of personalization to the world of cryptocurrency.

How Bitcoin Works?

The power of Bitcoin's unique payment network, operating on a decentralized blockchain. This innovative system cuts out intermediaries like banks, reducing transaction costs and giving you greater control over your funds. With blockchain, every participant can transparently view and verify transactions, ensuring accountability.

Each Bitcoin transaction is securely recorded in the blockchain, creating an unalterable ledger. Unlike traditional methods, Bitcoin transactions are highly secure and fraud-resistant. The decentralized blockchain requires consensus from all network nodes to tamper with records, providing unparalleled security.

Bitcoin relies on mining rigs and powerful computers to verify transactions, maintain network integrity, and earning block rewards. Mining not only validates transactions but also creates new Bitcoins. With a fixed supply of 21 million, Bitcoin's scarcity and increasing demand contribute to its growing value.

To combat double spending, Bitcoin utilizes proof of work (PoW), a consensus mechanism involving complex mathematical computations. PoW ensures network integrity by deterring fraudulent activities, making Bitcoin a reliable and secure digital currency.

How Does Bitcoin Mining Work?

Bitcoin mining is the process of generating new Bitcoins through computationally intensive operations. Miners verify and record transactions on the blockchain and, in return, receive Bitcoins as a reward.

Miners utilize specialized software to solve mathematical problems and earn a specific number of Bitcoins. This system incentivizes individuals to participate in mining activities while ensuring a fair and predictable creation of new Bitcoins.

As time progresses, the number of Bitcoins awarded for each block diminishes due to the network's adjustment of the block addition rate on the Bitcoin blockchain. Presently, miners receive a reward of 6.25 Bitcoins for each block they successfully mine.

What Is Bitcoin Halving?

Bitcoin halving is a significant event in the cryptocurrency world, occurring approximately every four years. This event involves cutting the reward for Bitcoin mining in half and is integral to Bitcoin's mining algorithm. The halving policy was purposefully integrated to counteract inflation by preserving scarcity. 

Bitcoin has experienced three halvings so far, in November 2012, July 2016, and May 2020, each contributing to the controlled scarcity of the cryptocurrency. The upcoming Bitcoin Halving, expected in April 2024, continues this strategy, reducing the block reward from 6.25 BTC to 3.125 BTC. 

This gradual reduction aims to positively impact the value of Bitcoin and maintain its status as a finite digital asset with a maximum supply of 21 million BTC.

What Is So Unique About Bitcoin?

Bitcoin's value hinges significantly on its scarcity, dictated by a fixed supply of 21 million BTC, a declaration made by its creators at its inception. This scarcity, combined with the rising demand from retail and institutional investors attracted to decentralized cryptocurrencies, plays a crucial role in supporting and stabilizing Bitcoin's price.

As the original cryptocurrency with the largest market capitalization, Bitcoin stands out as a reliable store of value. Its dominance in the crypto market contributes to its stability, with increasing adoption and expanding use cases adding to its appeal for investors.

The recent surge in crypto adoption, with both large and small investors showing growing interest, has propelled Bitcoin's value. The versatility of cryptocurrencies and their acceptance in various sectors make them an attractive investment class, further enhancing Bitcoin's desirability.

Amid global economic uncertainties triggered by the COVID-19 pandemic, Bitcoin has emerged as a hedge against inflation, often dubbed "digital gold" in financial circles. As central banks implement monetary easing measures and traditional markets experience volatility, Bitcoin's mining reputation as a reliable investment option has grown. 

Many investors turn to Bitcoin, seeking high returns amidst market fluctuations and economic challenges.

Who Founded Bitcoin

Bitcoin's origin traces back to a figure named "Satoshi Nakamoto," who proposed the idea in a 2008 whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System." Satoshi envisioned Bitcoin as a decentralized network, allowing financial transactions without a central authority like a government or bank. 

To address the double-spending problem, Satoshi introduced a proof-of-work consensus mechanism within a blockchain structure. The Bitcoin mining network went live in January 2009 when Satoshi mined the inaugural block, known as the "genesis block." 

Despite Bitcoin's transformative impact, Satoshi Nakamoto's identity remains unknown, emphasizing the privacy-centric principles of the cryptocurrency movement.

How To Buy Bitcoin On Etoro

eToro stands out as a premier trading platform, providing a user-friendly interface for investing in a variety of assets, including crypto assets, stocks, ETFs, and CFDs. Within this platform, you can easily and securely trade Bitcoin and numerous other cryptocurrencies. 

Step 1: Registration on eToro

If you're keen to explore how to buy Bitcoin on eToro, this user-friendly platform offers a seamless experience to kickstart your cryptocurrency investment journey.

Getting started on eToro is a breeze and can be completed in less than five minutes. Begin by signing up here, where you'll be prompted to enter basic details such as your name, email address, and contact number. Craft a secure password to safeguard your account.

After registration, you'll be guided to furnish some personal details and upload essential documents for verification. Keep your passport or driver's license and a utility bill on hand, as you may be required to provide scanned copies of these documents. This ensures a secure and verified trading experience on the platform.

Step 2: Account Verification with eToro's KYC Process

Moving forward, the crucial step involves verifying your account through eToro's KYC (Know Your Customer) process. This verification is a standard procedure employed by eToro, as well as many other exchanges, to confirm your identity.

To initiate the KYC process, navigate to the "Verify Account" tab on your eToro dashboard. Here, you'll be prompted to upload scanned copies of your passport or driver's license, along with a utility bill. This verification typically concludes within 24 hours, ensuring a secure and compliant trading environment on the platform. This step is vital if you're considering buying Bitcoin on eToro.

Step 3: Deposit Funds into Your eToro Account

With your verified account, the next crucial step is funding your eToro account before diving into trading. The minimum deposit on eToro is $10, and you have various options to accomplish this. Choose from credit and debit cards, wire transfers, PayPal, or Neteller. 

Note that a minimum of $500 is required for deposits via bank transfer. This flexibility in funding methods ensures a seamless and accessible entry into the world of eToro trading.

Step 4: Select Bitcoin as Your Preferred Asset on eToro

Now that your account is funded, the exciting part begins – trading. Navigate to the "Markets" page, explore the "Crypto" markets, and specifically choose "BTC" from the array of assets available. 

eToro goes beyond Bitcoin, offering a diverse selection of over 100 cryptocurrencies, including popular options like Dogecoin, XRP, Ethereum, and more. This broad range ensures you have the flexibility to explore and invest in various digital assets.

Step 5: Determine Your Desired Bitcoin Investment on eToro

As you progress with your eToro journey, the next decision involves determining the extent of your Bitcoin investment. This step allows you to specify the amount you wish to spend or the quantity of Bitcoin you intend to purchase. 

eToro simplifies this process by automatically converting your deposited funds into the corresponding amount of Bitcoin, ensuring a seamless and user-friendly experience.

Selling Bitcoin on eToro

If you're looking to capitalize on a peak in Bitcoin's value, eToro provides a straightforward process for selling your BTC with minimal effort. Selling Bitcoin on eToro mirrors the simplicity of the buying process.

When selling Bitcoin on eToro, simply input the desired amount of Bitcoin you want to sell in US dollars in the order form. Proceed to the 'Sell' option at the top of the form, and then click 'Open Trade' to execute the sale smoothly. Understanding this process ensures a seamless selling experience on the eToro platform.

Bitcoin Price Live

In the most recent market update, the current price of Bitcoin in USD stands at $39,328.9, reflecting a 24-hour trading volume of $234.13M. Over the last 24 hours, Bitcoin has experienced a -3.11% change, and its USD value has decreased by -8.54% in the preceding 7 days. The circulating supply of Bitcoin amounts to 18,953,412 BTC, contributing to its present market capitalization of $785.75B USD. 

Bitcoin maintains its prominent status as the leading cryptocurrency by market capitalization. These real-time metrics underscore the dynamic nature of Bitcoin's value and emphasize its pivotal role in the broader cryptocurrency market landscape.

Bitcoin Price Overlook/History

Bitcoin, renowned for its wild price swings, has emerged as the best-performing asset over the last decade, boasting an extraordinary surge of 9,000,000% from 2010 to 2020. As it made its debut in 2009, with Satoshi Nakamoto mining the inaugural Bitcoin genesis block, 50 BTC entered circulation at a nominal value of $0.00.

The continuous issuance of fifty bitcoins per block (created approximately every 10 minutes) persisted until the inaugural halving event in November 2012, a key feature embedded in Bitcoin's code by Nakamoto. This process involves an automatic halving of the new BTC entering circulation every 210,000 blocks.

In February 2011, Bitcoin achieved parity with the U.S. dollar for the first time, sparking interest from new investors. Over the subsequent four months, Bitcoin's price value experienced an upward trajectory, reaching a peak of over $30.

Early 2013 witnessed Bitcoin recovering from a prolonged bearish phase, momentarily surpassing $1,000. However, external factors, such as the infamous Mt. Gox hack and China's initial crypto ban, led to a four-year interval before Bitcoin reclaimed the $1,000 threshold. Post this breakthrough, Bitcoin's value skyrocketed in 2017, reaching its previous all-time high of $19,850.

The year 2018 marked the onset of the "crypto winter," a prolonged bear market affecting the entire cryptocurrency sphere. Bitcoin, after testing its previous all-time high in December 2020, surged a further 239% over the next 119 days, establishing a new peak at $64,799.

Bitcoin's rollercoaster journey reflects its resilience amid market turbulence, embodying both unprecedented highs and challenging lows. These historical milestones underscore its significance as a transformative force in the financial landscape, leaving a lasting impact on the world of crypto investments and digital assets.

Bitcoin Price Prediction 2024

Exploring the technical analysis of Bitcoin prices projected for 2024 reveals intriguing insights. Analysts anticipate a minimum Bitcoin cost of $23,474.95, providing a potential entry point for those considering investing in Bitcoin. On the upper end, optimism surrounds a maximum level reaching $34,227.57, highlighting potential growth opportunities. 

The average trading price is expected to hover around a significant $44,980.19, indicating a dynamic market. It's crucial for those contemplating Bitcoin investment to note the potential ROI, projected at -17.7%, allowing for informed decision-making based on these market expectations.

Bitcoin Price Prediction 2030

The annual ritual of cryptocurrency experts forecasting the trajectory of Bitcoin's price in the year 2030 yields intriguing insights. Projections suggest a potential trading range for BTC between $561,591.02 and $682,709.64, offering a glimpse into the potential price dynamics. 

The average cost is anticipated to settle around a noteworthy $577,809.18, providing a reference point for those keenly observing the Bitcoin price trends. Notably, the forecasted potential ROI stands at an impressive 1541.9%, signaling opportunities for those contemplating strategic moves in the ever-evolving cryptocurrency landscape.

How Much Is Bitcoin Worth

As of today, the current status of Bitcoin's worth stands at $39,328.9, reflecting a subtle 0.39% change in the last 24 hours. This recent price movement contributes to Bitcoin's overall market capitalization, now valued at $818.19 billion, underlining its substantial presence in the cryptocurrency landscape

Examining the broader perspective, the performance throughout the year indicates a -1.39% change in Bitcoin's price. Notably, Bitcoin retains its classification as a Currency in accordance with CoinDesk's Digital Asset Classification Standard (DACS), positioning itself within the dynamic realm of digital assets.

How Much Is 1 Bitcoin

Bitcoin's valuation is in a constant state of flux, fluctuating globally 24/7. Emerging from its humble beginnings at less than a cent per coin, Bitcoin has undergone a remarkable ascent, witnessing a surge in value by thousands of percent to reach its current figures.

The cryptocurrency market, including Bitcoin, is characterized by considerable volatility, where the perception of Bitcoin's worth can shift rapidly. It's crucial to note that different countries and exchanges may display varying prices for Bitcoin, making an individual's understanding of its value contingent on their geographic location. 

Frequently Asked Questions: (FAQ’s)

Who controls Bitcoin?

Bitcoin operates on a decentralized system where no single entity holds control. Developers can suggest changes, but acceptance relies on nodes following set rules. Attempts by miners to influence rules were countered by nodes rejecting alterations. 

Exchanges, while running nodes, currently avoid excessive influence. However, they dictate the Bitcoin version clients use, posing a potential risk if an exchange acts against clients' interests.

Is Bitcoin halal?

Many Islamic scholars consider cryptocurrency as haram, with Indonesia, the largest Muslim-majority country, banning its trading due to perceived uncertainty and harm. The Indonesian Ulema Council emphasized the absence of physical form, clear value, and known exact amounts in cryptocurrencies. 

(Dr. Anas Amatayakul advises Muslims to avoid buying or trading cryptocurrency for now, leaving the potential for innovation with improved regulation and reduced volatility to align with Islamic principles.)

Why BTC Crypto is falling?

Bitcoin experienced a 3.2% decline to $41,381 in early Friday trading, accompanied by a 2.5% drop in Ethereum to $2,467. This unexpected downward trend is attributed to selling pressure on BTC, driven by substantial outflows from ETPs to new spot ETF issuers, as explained by Shivam Thakral, CEO of BuyUcoin.

Is Bitcoin secured?

Bitcoin's security relies on multiple layers, including transaction hashing, mining, block confirmations, and game theory. Since its inception in 2009, the network has never experienced a shutdown, and no Bitcoin has been stolen from the blockchain. This robust security record underscores Bitcoin's reliability

How much is Bitcoin in Dollar?

As of the latest live data, the current market value of 1 Bitcoin stands at $$39,328.9 USD. This figure represents the prevailing exchange rate for a single Bitcoin in terms of US dollars. 

It's important to note that cryptocurrency values are highly volatile and can experience rapid changes influenced by various market factors.

Is Bitcoin trading safe?

Is Bitcoin trading safe? Generally considered a secure investment in the crypto world, Bitcoin's value can be volatile. The less-regulated nature of the crypto market means choosing reputable exchanges and secure hardware wallets enhances safety.

Is Bitcoin mining legal?

Whether Bitcoin mining is legal depends on where you are. Some countries, like Tunisia, Algeria, Nepal, Morocco, Bangladesh, and China, completely ban Bitcoin due to its potential impact on traditional currencies and government control. However, in many countries, owning and mining Bitcoin is legal. It's crucial to know your local regulations before diving into Bitcoin activities.

Is Bitcoin Mining Possible Using an iPhone?

The answer is no, achieving success in Bitcoin mining requires extensive computing power and electricity. Even when using a mobile device within a mining pool, the potential for earnings remains minimal. It's essential to utilize robust setups to effectively engage in the competitive market of mining.

Can Bitcoin convert into cash?

Certainly yes, you'll require a Bitcoin wallet and some BTC. The simplest method is buying Bitcoins on reliable platforms like apps. After creating your wallet, connecting it to your bank account or credit card enables BTC transactions, including conversion to dollars or other currencies.

Crypto Wallets

Cryptocurrency wallets fall into two categories: hot and cold. Hot wallets connect to the internet, offering accessibility, while cold wallets keep substantial coin amounts offline for enhanced security.

Top cold wallets include Trezor, Ledger, and CoolBitX. These choices prioritize offline safety. For online convenience, explore hot wallets like Exodus, Electrum, and Mycelium. Choose the best fit for your cryptocurrency needs. 

Who owns the most bitcoins in 2024?

Based on research by Bitcoin analysts at River Intelligence, Satoshi Nakamoto, the mysterious creator of Bitcoin, is considered the top holder of BTC in 2024. The data indicates that Nakamoto owns around 1.1 million BTC, distributed across approximately 22,000 different addresses. This information highlights Nakamoto's notable influence within the Bitcoin space.

Can I safely trade cryptocurrency using my phone?

When opting for cryptocurrency trading on your phone, ensure the use of a secure crypto exchange app with robust security features. Be cautious, as some apps may be fraudulent, posing a risk of private key theft. Additionally, apps with weak security measures can make you vulnerable to potential hacking attempts.

What is Bitcoin's all-time high price?

Bitcoin's highest recorded price is $68,789.6 USD, marking its peak value.

Is Bitcoin recognized as a legal form of currency?

As of now, two countries, El Salvador and the Central African Republic (CAR), have officially embraced Bitcoin as legal tender, with El Salvador taking a prominent role in the legalization of this innovative process.