Introduction
Bitcoin has been going through such a situation for a few months. This digital coin is stuck between $24,000 and $31,000 after falling below its lowest level of $15,000. Will this coin remain at this level? Or will King Coin fall further?
Or is it ready to repeat the history of 2021 and create a new record once again? Today we are going to share information with you on this topic.
Overview of Bitcoin
PRICE $26,803.74 (-0.17%)
| Cryptocurrency | Bitcoin |
| Ticker | BTC |
| Market cap (-0.21%) | $522,980,775,332 |
| Market Rank | #1 |
| Volume (24H) | $9,269,100,581 #2 |
| Volume /Market Cap | 1.77% |
| Circulating Supply | 19,512,325BTC (92.92%) |
| Total Supply | 19,512,325BTC |
| Max Supply | 21,000,000BTC |
| Fully diluted Market cap | $562,818,532,858 |
Bitcoin is a decentralized digital currency
When the Western world was going through economic problems many banks were going bankrupt and the money kept in people’s banks was sinking. To meet the economic needs of people, Satoshi Nakamoto invented the Bitcoin digital currency in 2008. Which is called the world’s first decentralized digital currency. Transactions with this digital currency are verified by network nodes through cryptography. And the blockchain is a ledger in which all transactions are recorded and it is not kept secret from anyone. The blockchain is completely public.
Will Bitcoin Price Explode in 2024?
As people’s awareness of cryptocurrencies has increased, many countries in the world are planning to bring regulatory laws on cryptocurrencies, which have been completely banned and many countries have imposed heavy taxes on cryptocurrency assets. Due to this, the cryptocurrency markets were greatly affected. Along with this, there has been a huge decline in the prices of Bitcoin digital currency and other altcoins too. Like every new industry, the cryptocurrency industry is going through challenging times.
Will 2024 be a great new year for Bitcoin?
- Yes, 2024 will be very good for digital coin. This can be understood from the five things given below. 1. Every four years, the reward for mining Bitcoin gets halved and this is going to happen in 2024. In such a situation, the demand for this asset will be high. And the supply will decrease and the demand will increase, this will cause a huge increase in the price of this coin.
1, The search for Bitcoin coin in Google search is currently 36 values which is the minimum. In the new year, there may be more explosion in Google searches of Bitcoin. For example, a similar situation was created in 2020-2021 which took the price of this king coin to $70,00. There is a strong possibility of a similar situation occurring in 2024. Which will prove helpful in increasing the value of cryptocurrency.
2, Cryptocurrency Regulators:
Today, countries like the G20 are expressing concern about cryptocurrencies and are discussing global cryptocurrency regulation. This is a good thing for the future of cryptocurrency and cryptocurrency lovers. In such circumstances, global rules can be made for global cryptocurrencies which can increase the value of digital currency.
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3, his Supply
This digital coin supply may decrease and demand may increase in 2024. Every four years the supply is halved. The number of options increases.
4, There is talk of Bitcoin coins being adopted by banks, reputed financial institutions, and governments of many countries of the world. If banks financial institutions and governments adopt the cryptocurrency Bitcoin, then the price of Bitcoin will touch new heights.
Conclusion:
The new year 2024 is going to be important for cryptocurrency lovers. People’s awareness of Bitcoin, the usefulness of this coin, reduction in suppl,y, and acceleration in the adoption of Bitcoin are the main things that we can know that the price of cryptocurrency Bitcoin may increase in 2024.
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Disclaimer
Caution! Careful! Careful! Any financial and crypto market information given on Cryptomenya is an article, written for informational purposes only and is not investment advice. The readers are further advised that Crypto products and NFTs are unregulated and can be highly risky. There are many ups and downs in the crypto coin market, so there is a constant fear of losing money, so whenever you invest, do your research or invest under the supervision of a well-informed person. For any reason, Cryptomenya.com will not be held liable for any financial loss incurred by investors.