Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
The fall of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. today is related to what has been a constant this week: the impact of the variant of the coronavirus, Omicron, on world markets.
Bitcoin is down at dawn. But it is one of those falls that alarm the markets, causing some players to sell their holdings desperately and others to buy in anticipation of a better future. Along with Bitcoin the crypto market plummets.
When it’s 6:30 a.m. in New York, the price ofBitcoin ( BTC ) is USD $47,093, 17.45% less than yesterday at the same time. .
The big drop occurred mainly since midnight and is related to two factors: the new announcements about the coronavirus variant, Omicron, according to which this strain could evade part of our immunity, which would render vaccines somewhat useless, and at the same time also the drop is related to the interest rate hikes in the US, the general fall of the stock markets, as well as the reactions to the US employment rate report and a possible monetary tightening by the Federal Reserve.
Also, of course, the fall is related to the market’s own reactions, fears and compulsive selling.
Coindesk explains that selling in the spot a contract or transaction buying or selling a cryptocurrency for immediate settlement, or payment and delivery, of the cryptocurrency on the market. market appears to have driven the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. lower before triggering a huge stop loss in the derivatives markets.
“So far, I’ve seen over 4000 BTC sold that pushed the market an area or arena, online or offline, in which commercial dealings are conducted. abruptly down.” Laurent Kssis, an expert in cryptocurrency exchange-traded funds and a director atCEC Capital. “In fact, only 1,500 BTC were sold in less than a minute at the time of the crash.”
This is reflected in the graphs ofnone:
Altcoins as well
No solo BitcoinThe other major cryptocurrencies (with the exception of stablecoins) are in the red.Ethereum a decentralized open-source blockchain with smart contracts functionality. ( ETH ) fell 15.45%,Binance Coin a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency. ( BNB ) 14,75%,Solana ( SOL ) 19,45%,Cardano ( ADA ) 19%, Dogecoin ( DOGE ) 21%, just to name a few of the major ones. The declines in the other currencies are all in double digits.
However, for many this is an opportunity for purchase. This is the case of the president of El Salvador, Nayib Bukele, who reported that the nation bought another 150 BTC during the fall at an average price of USD $48,670 approximately, giving a total invested of USD $7.3 million.
El Salvador just bought the dip! ????????
150 coins at an average USD price of ~$48,670 ???? #Bitcoin ????
— Nayib Bukele ???????? (@nayibbukele) December 4, 2021
With that purchase, the government has accumulated 1,370 BTC, since it already had 1,220 in storage. The previous purchase was 8 days ago, when it acquired, in another low 100 BTC more.