1 BTC = $63,435 USD - Why does Bitcoin exhibit the price volatility?

_{(Chart by TradingView)}

While initial technical signals like the bullish harami pattern suggested potential Bitcoin (BTC) price growth, bearish indicators like the double bearish harami emerged, hinting at a reversal towards decline.

Further analysis of technical indicators like ADX and DI suggests a downtrend due to strong selling pressure, potentially indicating weakening investor sentiment.

Despite its innovative blockchain architecture, Bitcoin exhibits the price volatility characteristic of cryptocurrencies.

To remain competitive, Bitcoin's development needs to focus on continuous feature implementation and adaptation to the evolving landscape of blockchain technology.

About Bitcoin (BTC)

Bitcoin (BTC) is the world's first and most popular cryptocurrency. It's a digital asset designed to work as a medium of exchange that uses cryptography for security. Unlike traditional currencies, Bitcoin isn't controlled by a central bank but relies on a decentralized network of computers to verify transactions and secure the network through a process called mining.

One key feature of Bitcoin is its limited supply. The creator, Satoshi Nakamoto, capped the total number of Bitcoins that can ever be mined at 21 million. This limit is enforced through a process called halving, which happens roughly every four years. During a halving, the reward for miners who verify transactions is cut in half. This means there's a steady decrease in the rate at which new Bitcoins enter circulation.

The recent halving you heard about likely refers to the event that took place on April 19, 2024. Before that, miners received 6.25 Bitcoins for verifying a block of transactions. Now, the reward is 3.125 Bitcoins. This halving is designed to control inflation and potentially increase the value of existing Bitcoins, based on the concept of scarcity.

It's important to note that Bitcoin is a complex and volatile asset class. While some believe halvings can lead to price increases, it's not guaranteed. There are many factors that influence Bitcoin's price, and investing in cryptocurrency carries inherent risks.

If you're interested in learning more about Bitcoin, there are many resources available online and from financial advisors.

Assisted by https://gemini.google.com/.

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