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Want to hold off on improving your trading? Note: Low and High figures are for the trading day. Bitcoin and Its Cryptocurrency Challengers: Money or Mania? Bitcoin is a digital currency, sometimes referred to as a cryptocurrency, best known as the world’s first truly decentralized digital currency. Bitcoin is traded on a peer-to-peer basis with a distributed ledger called the Blockchain, and the Bitcoin exchange rate to the US Dollar and other major currencies is determined by supply and demand as with other global exchange rates. The traded value of Bitcoin has proven volatile through various booms and busts in demand.
Ultimately, however, many see Bitcoin as a store of value against government-backed fiat currencies. Abbreviated as BTC, Bitcoin is actively traded against the world’s major currencies across decentralized markets. Bitcoins are kept in so-called Bitcoin wallets, which depend on private keys and cryptography to secure its Bitcoins to a specific entity or user. By comparison to government-backed global currencies, Bitcoin remains fairly complex for the typical user to acquire and use in regular transactions. Growing interest and significant global investments in Bitcoin wallet and Blockchain technology have nonetheless made buying and selling Bitcoin far more accessible to the average user.
And indeed growing acceptance by government entities have ameliorated the ambiguity of legal and regulatory status for Bitcoin and Bitcoin exchanges. You can find historical price of Bitcoin on our chart and latest news and analysis on the Bitcoin exchange rate. The digital currency market remains in limbo as traders await the latest news from South Korean authorities on whether or not they will ban cryptocurrency trading. Please fill out this field. But don’t just read our analysis – put it to the rest.