Bitcoin News

Recent Bitcoin New

What Is Bitcoin?

Bitcoin is the first globally recognized digital cryptocurrency coin, and store of value. Bitcoin was first hypothesized in a 2008 White Paper, in which anonymous founder or founders, known only by the pseudonym Satoshi Nakamoto, drew out the blueprint for a digital money that would have new distinct properties.

Bitcoin would come to be by 2009, when the digital coin, abbreviated as its ticker, BTC, was released and made possible by a newly integrated underlying technology referred to as blockchain. Put simply, a blockchain is a digital network which uses cryptography to ensure security and accurate accounting therein. There is a maximum supply cap of 21 million Bitcoins that can be produced. Miners receive fractional transaction fees for their part in verifying transactions on the Proof-Of-Work (PoW) blockchain.

The Bitcoin Blockchain Network

The blockchain keeps record of all transactions which occur onto a publicly accessible ledger which is never deleted or altered. This makes Bitcoin a permissionless network, needing no intermediary or governing body to oversee transactions and other such activity.

A layer-2 solution was built atop the Bitcoin network to facilitate payments by implementing BTC and real world vendors through its agile network. Bitcoin Lightening is used as the Bitcoin layer-2 innovation which makes expanded global BTC payments possible within the existing business and financial markets.

Recent 2022 Bitcoin News

Much of the latest Bitcoin news has been surrounded around the price of BTC, mostly due to the fact that the majority of 2022 has been riddled with reports about lows in the ecosystem of the most heavily traded digital asset on the planet.

2022 has been a tough year in crypto and the stock market largely. It is estimated that the total digital assets market capitalization lost over $1 trillion dollars alone through May and June. After suffering through May and June themselves, Bitcoin, along with Ethereum, and many other popular digital currencies, were able to surge through the month of July. This was an impressive feat, especially since key Federal Reserve announcements affecting interest rates and inflation were not the most favorable in terms of the expected market response.

Bitcoin Surges

In July, after reaching that low of $18,948 just weeks earlier, on June 18, Bitcoin rallied to test above $24,500 on July 30. The first globally traded digital currency showed signs of strength for the entire month, which was seen to be a positive sign for the entire cryptocurrency market, believed still by many, to be at an early stage of the infamous crypto winter.

Crypto winter is a season in which much of the daily trade volume and liquidity exits the cryptocurrency market, due to many factors which are comprehended and affected on a macroeconomic level. Despite what many experts judge to be a recession currently, or at least close to it, Bitcoin news of its surge along with the rest of the crypto market suggests a level of independent resilience in an interconnected global market. Such evidence of growth and strength in crypto as related to other markets, has been actively sought and anticipated by many crypto enthusiasts for several years now.