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  1. Cryptocurrencies
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Bitcoin

BTC

Rank #1
$ 38275
+ 1.08%
24H Low$37547
24H High$38363
24H Volume
17.82B
All-Time High(ATH)
$69045
All-Time Low(ATL)
$67.81
Market Cap
750.11B
Fully Diluted Valuation
805.43B
Market Cap/FDV
0.9313
Circulating Supply
19.56M BTC
Total Supply
21M BTC
Max Supply
21M BTC
Market Sentiment
Positive
* Data from 3rd parties

Bitcoin (BTC) Price Trends

Time period
Change amount
% Change
1H
$ 132.66
0.35%
24H
$ 414.15
1.08%
7D
$ 917.36
2.4%
14D
$ 1991.29
5.2%
30D
$ 4287.95
11.2%
1Y
$ 47237.86
123.42%

Live Bitcoin (BTC) Price Update

Bitcoin price today is $38275 with a 24-hour trading volume of 17.82B, and as such Bitcoin has a market cap of 750.11B, giving it a market dominance of 49.58%. The Bitcoin price moved 1.08% in the last 24 hours.

Bitcoin reached its highest price on 2021-11-10 when it was trading at its all-time high of $69045, while its lowest price was recorded on 2013-07-06 when it was trading at its all-time low of $67.81. The current lowest price since the last cycle high was $67.81, and the highest price since the last cycle low was $69045. The social sentiment of Bitcoin is currently Positive.

The current circulating supply of Bitcoin is 19.56M BTC. In terms of market cap, Bitcoin is currently ranked 1.

About Bitcoin (BTC)

Bitcoin originated from a financial crisis in the United States in 2008. At that time, a large number of U.S. borrowers were unable to repay on time, causing banks to fall into a liquidity crisis. The U.S. government continued to print dollars to try to rescue the market, which eventually intensified the collapse of the "trust foam", leading to the outbreak of the financial crisis. The event fully exposed the fatal shortcomings of the centralized model: the central institution between the two parties to the transaction may not always play a positive role.


On November 1 of the same year, Satoshi Nakamoto, the founder of Bitcoin, released a paper entitled Bitcoin: A Peer-to-Peer Electronic Cash System. In the paper, he first mentioned an e-currency whose design is based on cryptography and relies on blockchain technology, which can solve the problem of transaction trust. He called this digital currency "Bitcoin".


How does Bitcoin (BTC) Work?

Unlike traditional finance, Bitcoin is completely "decentralized". Anyone in the world can directly conduct Bitcoin transactions at any place as long as they are connected to the Internet, without any intermediary or individual.

Behind Bitcoin is a completely decentralized and highly consensus network, and the blockchain technology that supports the Bitcoin network. In the Bitcoin network, each node is responsible for maintaining the security of the system and the effectiveness of transaction information. Meanwhile, it records transactions and broadcasts the transaction information to share the ledger information to the whole network.

In the whole Bitcoin network, everyone (node) can keep accounts and broadcast bills, and each transaction will be recorded in a chain composed of many blocks. Since the capacity of each block is limited, if the transaction information in the previous block is saturated, a new block will be generated to record the new transaction information. At this time, the latest "to be validated" transaction will determine the bookkeeping right of the new block through the "problem-solving speed" of many miners (nodes). Nodes (i.e. miners) participating in the competition for bookkeeping rights need to use powerful computer hardware to solve very complex mathematical problems. The first miner who solves the problem will receive Bitcoin rewards and subsequent handling fees. This process is also known as "mining". The mechanism that nodes compete for the bookkeeping rights of new blocks by solving workload is also called PoW (proof of work consensus mechanism).

According to the setting in the white paper, Bitcoin cannot be generated indefinitely through mining. Its algorithm stipulates that for every 210,100 blocks (approximately four years), the block reward of Bitcoin will be halved. Presently (2022), the reward of Bitcoin blocks is 6.25. It is expected that the fourth reward will be halved in May 2024, and Bitcoin will be halved from 6.25 to 3.125 at that time. It is expected that all of Bitcoin will be "dug up" in 2140.


What is Bitcoin (BTC) ?

Bitcoin is a revolutionary digital asset. It breaks the central position of central banks in the traditional financial system and returns the trading / issuance rights to everyone.

We can understand Bitcoin as a payment system, which is similar to the online payment means used in our real life. The difference is that Bitcoin is decentralized, without any central server, and is completely interwoven by Bitcoin holders and global node networks. There is no issuer in the Bitcoin network. Because there is no guarantee and endorsement from an intermediary, it can better resist the occurrence of trust crisis and inflation.


Bitcoin (BTC) Crypto Wallet

In addition to placing BTC in the Gate.io exchange to facilitate trading, Bitcoin can also be placed in the crypto wallet.

Cryptocurrency wallets are different from wallets in daily life. Crypto wallets do not store cryptocurrency, but store the address used to trade Bitcoin and the private key matching the address. The address is used to store cryptocurrency. The private key is used to confirm the transaction. The cryptocurrency wallet can be simply understood as a data package that stores bank cards and bank card passwords.

According to different network environments, cryptocurrency wallets can be roughly divided into "cold wallets" and "hot wallets". Cold wallets are offline wallets, which refer to local offline wallets that are not connected to the Internet. Because the cold wallet is not connected to the Internet, it can better resist hacker attacks and has more advantages in saving cryptocurrencies. On the other hand, the cold wallet also has the shortcoming that once the account password and other information to log in the wallet are lost, the wallet can no longer be used or the cryptocurrency can be retrieved. Hot wallet, also known as online wallet, refers to the cryptocurrency wallet connected to the Internet. When using the hot wallet, you need to enter the local login information, and you can enter the wallet only after the server authentication. In the Internet environment, the hot wallet can carry out cryptocurrency transfer, collection and other operations at any time, which is more convenient and faster than the cold wallet, but it is also vulnerable to hacker attacks.

FAQs

1. What determines the price movement of Bitcoin?

There are two schools of thought in determining the price of Bitcoin.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Bitcoin, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Bitcoin from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Bitcoin on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Bitcoin as well.
Investors tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Bitcoin and the cryptocurrency market as a whole.

Bitcoin (BTC) News

Bitcoin (BTC) Announcements

Gate.io Scheduled Perpetual Contracts (USDT & BTC Margin) Upgrade ( 12 July, 16: 00-16: 10 UTC)

Gate.io is going to upgrade and optimize the USDT & BTC margin perpetual contracts from 16:00 - 16:10 UTC on 12 July, 2023. The upgrade will take about 10 minutes and partial service will be unavailable during the process. There might be trading interruption _about 1 second_ and query interruption _about 1 second_ on all affected contracts during the process.
readings: 9192Posted:

Gate.io Crazy Friday: Earn 4% High APR on Top Cryptos with 3-Days Lockup Period

The Gate.io Hodl & Earn platform launched the "Crazy Friday" promotion. Now both new and regular users can earn 2X high APR on top cryptos.
readings: 10479Posted:

Gate.io Scheduled Perpetual Contracts (USDT & BTC Margin) Upgrade ( 04 July, 16: 00-17: 00 UTC)

Gate.io is going to upgrade and optimize the USDT & BTC margin perpetual contracts from 16:00 - 17: 00 UTC on 04 July, 2023. The upgrade will take about 60 minutes and partial service will be unavailable during the process. There might be trading interruption _about 1 second_ and query interruption _about 1 second_ on all affected contracts during the process. If you are an affected trader and API user, please adjust your strategies beforehand.
readings: 10485Posted:

Gate.io Crazy Friday: Earn 4% High APR on Top Cryptos with 3-Days Lockup Period

The Gate.io Hodl & Earn platform launched the "Crazy Friday" promotion. Now both new and regular users can earn 2X high APR on top cryptos. This phase of Crazy Friday allows for locking BTC/ETH/USDT for as short as 3 days. The APR reaches 4% and the total sub_ion quota is limited and will be served on a first-come-first-served basis!
readings: 11720Posted:

Gate.io Increased Quota for Lock & Earn BTC with Multiple Lockup Periods

Gate.io has increased the positions for Lock & Earn BTC & Earn_lock for 60 days_. The total sub_ion quota doubles the initial amount. You_re welcome to experience them!
readings: 11271Posted:

Gate.io Scheduled Perpetual Contracts (USDT & BTC Margin) Upgrade ( 8 June, 16: 00-16: 05 UTC)

Gate.io is going to upgrade and optimize the USDT & BTC margin perpetual contracts from 16:00 - 16:05 UTC on 8 June 2023. The upgrade will take about 5 minutes and partial service will be unavailable during the process. There might be trading interruption _about 1 second_ and query interruption _about 1 second_ on all affected contracts during the process.
readings: 10436Posted:
Date
Market Cap
Volume
Open
Close
2023-12-01
$16.56B$737.65B$37711.82N/A
2023-11-30
$20.96B$740.49B$37810.35$37711.82
2023-11-29
$19.71B$738.81B$37802.24$37810.35
2023-11-28
$17.97B$728.04B$37250.17$37802.24
2023-11-27
$10.22B$733.37B$37491.84$37250.17
2023-11-26
$7.5B$739.53B$37809.85$37491.84
2023-11-25
$22.99B$737.61B$37738.93$37809.85
2023-11-24
$11.95B$728.81B$37293.32$37738.93
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