The advent of Bitcoin marked the beginning of digital revolution. It is impossible to talk about any other cryptocurrency, without mentioning its prototype. Every year more and more merchants, trading companies and governments start using Bitcoin and blockchain technology, and bitcoin usd price is still remarkable.
How did it all begin? Bitcoin was born in 2018. The creator, Satoshi Nakamoto, is still unknown. Satoshi's idea was to create a decentralized currency so that bitcoin exchange rates do not depend on the central bank. In the absence of banks, the maintenance of the currency goes to the community that actively uses it with a help of distributed ledger technology - blockchain.
How did it happen that the idea of a decentralized currency led to the fact that bitcoin price today is so high?
Let’s review some of BTC’s special features and try to find out how they influence bitcoin’s value.
The total number of coins is limited - a total of 21 million can be mined, most of those coins are already in circulation. So we can assume that btc price can be explained by the supply-demand situation.
In addition, prestige and credibility of the very first сryptocurrency each year continues to grow. Purchasing bitcoin is far from the challenge nowadays and thanks to the efforts of processing companies, Bitcoin payments have become publicly available.
However, there are several issues that have a negative impact on btc charts. The problem of Bitcoin’s scalability is one of the most essential. Relatively slow and expensive transactions (due to the small block size) have led to the creation of SegWit protocol. However, SegWit is still perceived only as a temporary solution. Over time, mining becomes harder and more expensive, which also explains the complicated dynamics of bitcoin price chart. In addition, Bitcoin has to survive in conditions of high competition and it is also exposed to the threats of stricter regulations. At the same time, bitcoin price now is still the highest.
Bitcoin price graph (or bitcoin charts) can be easily checked on our website. Have a look at btc usd charts over the course of the week, month or a year, watch them live and make your own predictions.