Bitcoin
Did you know that between May and July 2024, Bitcoin experienced a significant fluctuation? In May, Bitcoin started the month at around $61,827 and climbed to close at approximately $68,005, reflecting a gain of 9.08%. However, it saw a decline in early June before rising again, with the average price in July stabilizing around $54,578 (Exchange Rates) (Switchere).
Bitcoin is busy retesting the $92K level… could be a potential double bottom here. Keep your eyes peeled!
Bitcoin is a decentralized digital currency created in 2009 by an anonymous entity using the pseudonym Satoshi Nakamoto. It operates on blockchain technology, enabling secure, transparent peer-to-peer transactions without intermediaries. Limited supply (21M coins) adds to its value.
Bitcoin is still battling with the $94K resistance… touch and go at this stage. I still prefer the odds of a dip before continuation. However, Bitcoin often does what it wants…
🛠Bitcoin — symbol or tool? Jack Dorsey says it’s doomed if it stays just digital gold. He believes BTC should return to its roots: fast, private, secure payments.
Today, though, it’s more vault than wallet. Maybe it’s time to change that?
The long and the short is that Bitcoin is now an instrument of wealth preservation and WEB3 is the new realm of wealth creation. A few thousand dollars invested in Bitcoin has limited, yet attractive yields. However, the same amount of capital effectively deployed in WEB3 has a greater chance of providing a more substantial return.
