Bitcoin is a virtual currency that uses Blockchain technology for secure payments and storing money electronically, without requiring a bank or a person’s name. Satoshi Nakamoto created this cryptocurrency back in 2009. The biggest advantage of Bitcoin is that it’s not under control of central authority, government or private company, so people are free from paying transaction fees. It can be used for booking a hotel or flight, or purchasing products online, as many online stores and companies accept Bitcoin now.
Today, there are 1354 Bitcoin ATMs in 55 countries around the world and about 5.8 million users that have digital wallets. The price for one Bitcoin at the moment is $5,602 and it’s growing continuously, proportionally with the interest for digital money.
Take a look at this infographic that illustrates in details some interesting facts about this incredibly popular virtual currency.
Editors’ Picks
EUR/USD remains sub-1.2100 after upbeat US data
US Producer Prices rose by more than anticipated, while unemployment claims shrank by more than anticipated. EUR/USD keeps trading below 1.2100 as investors eye firmer government bond yields.
GBP/USD under pressure below 1.4050 amid renewed USD demand
GBP/USD trades pressured below 1.4050, as the US dollar remains broadly bid amid risk-off sentiment. Rising inflationary pressures and Brexit jitters over NI keep investors on the edge. Bailey's speech, US data in focus.
USD/JPY: Remains confined in a range, above mid-109.00s ahead of US data
USD/JPY extended its sideways consolidative price action through the mid-European session. The set-up favours bullish traders and supports prospects for a move beyond the 110.00 mark.
Editors’ Picks
EUR/USD remains sub-1.2100 after upbeat US data
US Producer Prices rose by more than anticipated, while unemployment claims shrank by more than anticipated. EUR/USD keeps trading below 1.2100 as investors eye firmer government bond yields.
GBP/USD under pressure below 1.4050 amid renewed USD demand
GBP/USD trades pressured below 1.4050, as the US dollar remains broadly bid amid risk-off sentiment. Rising inflationary pressures and Brexit jitters over NI keep investors on the edge. Bailey's speech, US data in focus.
XAU/USD bounces off weekly lows, lacks follow-through buying
Gold consolidates the heaviest losses in six weeks, fades consolidative bounce of late. Market’s struggle for clear direction after US CPI challenged Fed, US stimulus. Wall Street benchmarks dropped over 2.0%, down for third day, but S&P 500 Futures prints 0.10% gains afterward.
Nightmares repeat as BTC flash crashes
The recent Bitcoin price crash seen on Wednesday is comparable to the one in late April. However, unlike the last time, this drop was not due to rumors of new tax proposals.
S&P 500 Nasdaq: PPI confirms the CPI, Fed is in bed as inflation means red
Wednesday's wake-up call to the dovish Fed was repeated with the release of PPI on Thursday. Core CPI was 0.7% versus forecasts for 0.4%. Now is buy the dip still in focus and is don't fight the Fed still the trade?
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