Bitcoin is the first and most popular digital currency - a cryptocurrency. It powers a peer-to-peer network for the exchange of value through the use of a decentralized protocol. The idea behind Bitcoin is to have a system where there is no middleman or central authority. The live Bitcoin to EUR conversion is € 61,486.73.
Bitcoin refers to both the software protocol as well as to the digital asset, which goes by the ticker symbol BTC. At its most basic level, Bitcoin is useful for transacting value outside the traditional financial system. You can buy and sell BTC for other cryptos alongside more traditional currencies at crypto exchanges like Binance, Kraken and Bitstamp.
Satoshi Nakamoto, a mysterious person (or group of people), launched Bitcoin in 2009. What sets it apart is that it's completely decentralized, meaning no single entity controls it. Instead, a network of computers, known as miners, maintains and validates transactions.
Bitcoin mining creates new bitcoins in the form of block rewards. The process verifies transactions on the blockchain. Miners earn Bitcoin as a reward for completing "blocks" of verified transactions and adding them to the blockchain.
It has a maximum total supply of 21 million, which means that there can only be 21 million in circulation. However, the number of issued Bitcoins will likely never reach 21 million. That is because of the use of rounding operators in the codebase.
You can break a single Bitcoin down into 100 million tiny pieces called "satoshis." You can store them in a digital wallet. The current price of 1 BTC in EUR is € 61,486.73. But you do not need to buy a whole Bitcoin; you can buy a very small fraction of it.
You can send parts of a Bitcoin to pay for things. You can also trade it for other crypto assets. But when you dig into the technicalities, it's like peeling an onion—layer after layer of complexity.
All Bitcoin transactions happen on a blockchain. Think of it as a public digital ledger that everyone can see but no one can tamper with. Miners are the ones who validate and secure these transactions. They validate transactions by solving complex math problems and receive new bitcoins as a reward for their efforts.
Key Points to Remember
The fastest, most convenient way to purchase Bitcoin is to purchase it on ICONOMI. We check Bitcoin live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Bitcoin by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Bitcoin is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Bitcoin, we recommend you read the next section, as copying might be a better approach.
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Bitcoin in their structure.
Here you can read and comment on all posts made by Strategists about Bitcoin BTC. See all Bitcoin price predictions in real time and make the best use of their crypto knowledge.
$AR breaking the previous highest price before $BTC.
The infrastructure applications sector will recover the fastest in the market than other sectors.
$LINK is included in this sector, but it is not included in this crypto strategy, because it is Oracle.
The strategy mainly focuses on data platforms, cloud computing AI, IoT,ML and DePin. Like $AR,$RNDR, $FET,$OCEAN,$GRT, $AGIX $GLM ..etc
The Flippening Dream: Ethereum vs. Bitcoin – What's Next?
The dream of $ETH surpassing $BTC market cap, a phenomenon known as "the Flippening," seems increasingly distant. Ethereum’s value relative to Bitcoin (ETH/BTC) has plummeted to its lowest point since April 2021, standing at 0.04563. This decline reflects a 45% drop since Ethereum’s significant transition to proof of stake in September 2022, known as "The Merge." Ethereum's mainnet activity has also slowed, with transaction fees at a multi-year low due to a shift to Layer 2 networks, indicating reduced activity on the main network.
Expert Opinions on Ethereum’s Performance
Prominent $ETH supporter Ryan Sean Adams, co-host of the Bankless podcast, has expressed doubts about Ethereum's current market cycle. He suggests that Ethereum's transition to Layer 2 solutions and its “awkward puberty phase” might lead to fragmentation and user frustration. Joe McCann, founder of crypto fund Asymmetric, argues that Ethereum's scaling limitations prevent it from becoming the "super computer" it was once envisioned to be. McCann asserts that $BTC remains "ultrasound money," while $SOL is emerging as the “world’s leading supercomputer.”
Competition and Market Sentiment
Several factors contribute to $ETH underperformance. The approval of spot Bitcoin ETFs in the U.S. has strengthened $BTC's status as a store-of-value asset. Competing Layer 1 solutions like $SOL are also detracting from Ethereum’s position as the primary network for decentralised applications (dApps). Solana's share in decentralised exchange volumes has grown significantly, eating into Ethereum's market share. Furthermore, Ether has recently turned inflationary, reversing the deflationary supply trend seen since The Merge, which has also impacted investor sentiment.
Future Outlook
The crypto market is witnessing a surge in new token launches, particularly on $ETH and $SOL. Since April, over one million new tokens have been created, with Ethereum hosting over 370,000 and Solana over 640,000. While the proliferation of new tokens, especially memecoins, has sparked mixed reactions, it indicates heightened activity and growing adoption of these platforms. Despite recent challenges, Ethereum's unique features, such as its proof of stake mechanism and smart contract capabilities, make it an attractive platform for decentralised applications.
While $BTC remains the dominant force in the crypto world, differing expert opinions suggest that Ethereum still has potential. Regulatory developments, market dynamics, and continued innovation will play crucial roles in shaping Ethereum’s future. For now, the Flippening dream might be on hold, but Ethereum's evolution continues.
