Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

Bitcoin on the rise, as traders shift focus to $12,000 price level

Olumide AdesinabyOlumide Adesina
3 years ago
in Cryptos
dollars, Bitcoin has halved, what happens next?, Naira should watch out; Nigeria leads in the peer to peer use of Bitcoin than all African countries combined
Share on FacebookShare on TwitterShare on Linkedin

The world’s flagship crypto seems to be on the rise, as it recently experienced a price increase.

This feat was triggered by the price volatility recorded throughout the previous week with U.S Federal Reserve Chairman’s speech at Jackson Hole and the recent expiration of some BTC futures

At the time this report was drafted, BTC was trading at around $11,600, with a daily trading volume of about $19 billion.

READ: Why Tesla could overtake Apple as world’s most valuable company

This recent price upgrade recorded reveals the bulls have been able to keep the price away from its previous resistance level ($11,500) as crypto traders and investors now shift their focus on the $12,000 price level.

However, since the previous fake breakout recorded above $12,000 price level about three weeks ago, the recent price momentum seems to suggest a price rejection could occur in the near time as BTC price touches the $11,700 price tag, meaning Nairametrics anticipate the price of Bitcoin could likely experience a temporary pullback to the $11,200 support area before rallying higher.

READ: Two Bitcoin whales transfer 4,503 BTC, as Bitcoin stays above $11,400

What you should know:

Bitcoin is a decentralized digital crypto asset, meaning it has no central authority or centralized payment system controlling it.

Bitcoin is operational through a peer-to-peer network that allows anyone to give and send BTC without any intermediary such as a bank.

READ: Ethereum whale transfers 62,134 ETH as Ether remains above $385

It should also be noted that the very first crypto asset ever created is Bitcoin. On Oct. 31, 2008, an individual (or group of people) under the pseudonym “Satoshi Nakamoto” published the now-world famous Bitcoin white paper.

BTC holds a maximum supply of about 21 million digital coins of which there are about 18.5 million in circulation, while over 4 million BTCs have already been lost forever.

Bitcoin is actually distributed via an accounting ledger that is stored in a form of a chain of blocks, known as the blockchain.

Related

Tags: BitcoinBitcoin white paper.Blockchaincryptoledgerpeer-to-peer networkSatoshi Nakamoto

Leave a Reply Cancel reply

Press one
hfm
Mega Millions
fidelity banner
SME
HFM
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Nigeria’s money supply rises to N53.3 trillion in February 2023
  • Tinubu’s options for fixing Nigeria’s fiscal crisis are a banana peel
  • Nigeria hits record net domestic borrowing of N70 trillion

Follow us on social media:

Recent News

Banking sector needs a new operating model to remain profitable under a Tinubu regime

Nigeria’s money supply rises to N53.3 trillion in February 2023

March 27, 2023
Why Appeal Court Dismissed PDP’s Suit Seeking Disqualification Of Tinubu, Shettima

Tinubu’s options for fixing Nigeria’s fiscal crisis are a banana peel

March 27, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions
  • 2023 Elections

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections

© 2023 Nairametrics

error: Alert: Content selection is disabled!!