Bitcoin

Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>), the flagship <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">cryptocurrency</a>, despite a volatile <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">crypto market</a> in 2022 with numerous ups and downs, continues to be an investor favorite in 2023.Indeed, the start of 2023 has brought a significant change in Bitcoin’s value, as now you can buy 42% fewer SATS (the smallest unit of Bitcoin) for one U.S. dollar than at the beginning of the year. At the start of 2023, investors could buy around 6042 satoshis for a dollar. However, as of today, March 30, the same dollar would only purchase roughly 3497,57 satoshis, according to <a href="https://crypto.com/price/satoshi" rel="noopener noreferrer nofollow">data</a> retrieved by Finbold from Crypto.com.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/349b03d8763b4de9bd6e31abbf9e4e0b.jpg" />$1 to SATS. Source: Crypto.comNotably, satoshis are the smallest unit of Bitcoin, named after the pseudonymous creator of the cryptocurrency, <a href="https://finbold.com/guide/satoshi-nakamoto/" rel="noopener noreferrer nofollow">Satoshi Nakamoto</a>. A satoshi is equivalent to 0.00000001 Bitcoin, meaning that 100 million satoshis are equal to one Bitcoin. The value of a Bitcoin is determined by the market demand, and with a limited supply of 21 million, the currency is highly valued by investors and traders.The drop in satoshis per dollar is not entirely surprising, given that Bitcoin has climbed over 70% since the start of the year, meaning <a href="https://finbold.com/guide/cryptocurrency-trading/#Uphold_%28best_for_trading_multiple_assets_with_one_account%29" rel="noopener noreferrer nofollow">crypto traders</a> have ‘less bang for their buck.’ Bitcoin was trading at $16,500 on January 1, compared with the current price, BTC is changing hands at around $28,730.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/800791125072489c9856845cb5bf5d1e.jpg" />YTD Bitcoin price chart. Source: FinboldNotably, Bitcoin’s price briefly climbed above $29,000 on March 30 as the flagship digital asset continues its push to reclaim the $30,000 psychological level. As things stand Bitcoin has a total market capitalization of $549 billion.<h2 id="header-0">Bitcoin rally</h2>Given that a U.S. interest rate pause could <a href="https://finbold.com/u-s-interest-rate-pause-could-kickstart-bitcoin-rally-in-may-charts-indicate/" rel="noopener noreferrer nofollow">kickstart a Bitcoin rally</a> in May, crypto traders could well get fewer satoshis for their dollar in the near future.However, if Chief Market Strategist at InTheMoneyStocks.com Gareth Soloway is to be <a href="https://finbold.com/pro-trader-says-bitcoin-to-dive-to-13k-before-major-rally-as-financial-crisis-2-0-unfolds/" rel="noopener noreferrer nofollow">believed</a>, Bitcoin could first plummet back to as low as $13,000 as the financial system becomes more stable before experiencing another rally.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

1 Bitcoin to USD: You can now buy 42% fewer satoshis for a dollar than at the start of 2023

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Alte articole publicate pe 30 mar. 2023

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