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Monday, August 15, 2022

Bitcoin Aims For Glory Amidst Darkness

Bitcoin is one of the biggest names in the cryptocurrency market. Bitcoin is a type of cryptocurrency. In simple words, it is a form of digital money that you can buy and accumulate in your digital purse. 

Unlike traditional money, you cannot hold it physically but can use it digitally. BTC is the very first cryptocurrency that has been accepted unanimously across the world. 

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The original creator of BTC is unknown. However, an artificial person or team, under the name of Satoshi Nakamoto officially owns the credit for designing the coin. 

BTC functions in a decentralized manner. This means that you can use BTC to receive or transfer your digital assets anywhere in the world independently. Every financial deal made via BTC gets recorded on the blockchain. Blockchain resembles the ledger of a bank, where the details of every transaction are noted down. 

The total number of BTC in the cryptocurrency market is limited. The investors only have 21 million BTC to cash on. However, all such positive aspects seem to be going down the drain at the moment. The prices of the crypto coin are going down drastically. Bitcoin did have a slender phase where its prices went up by almost twenty-five percent. 

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However, recent trends have once again hinted toward a macro bottom for the company. Let us learn more about the story in detail below. 

Bitcoin Optimistic About Turnaround 

Bitcoin prices are once again slipping downwards. However, amidst all these negatives, the company has stated that the coin will once again regain its lost glory. They are currently aiming to achieve a profit margin of $360 million. 

Big names like Bitcoin and Ethereum were also not an exception. According to the recent figures, the price of BTC has gone down by fifty percent in the last few months. The main reason cited for such a trend are the right economic guidelines of the United States. It remains to be seen how the company bounces back. 

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