Saturday 30 April 2022

Bitcoin price decreased over the year

Bitcoin price was back at over $40K recently (now it is below $40K) as more and more countries seem to "embrace cryptocurrency."

Over the period of a year, the Bitcoin price decreased significantly.

More countries are certainly embracing cryptocurrency these days.

Fresh signs show interested investors and greater adoption by nations from Africa to Central and South America.

Bitcoin (BTC) really came back above $40,000 on Thursday, climbing alongside some USA stocks.

There has been some positive news for Bitcoin. There is the potential sovereign adoption in Africa, Cuba's allowing licensed exchanges and Mexico's gradual move towards greater adoption.

The Central African Republic has recently become the second nation in the world to adopt bitcoin as legal tender and official currency.

El Salvador took the same step last year to make it official currency.

The Central Bank of Cuba (BCC) announced that it will issue licenses for virtual asset service providers. The license will really be available to individuals or organizations both Cuban and foreign.

The Panamanian Legislative Assembly passed a bill regulating crypto.

Brazil also passed a law on Wednesday to regulate cryptocurrencies.

So-called "whale" [large] holdings increased dramatically last September. This led to a significant increase in price in November.

The balance held by addresses with few BTC has also increased a lot.

Bitcoin price has increased a lot since it began. In the 14 years since its inception, it has climbed exponentially, while only starting from US$0.08.

It seems that there are really currently 19,025,143 bitcoins in existence. This number changes about every 10 minutes when new blocks are mined. Right now, each new block adds 6.25 bitcoins into circulation.

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