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The Bitcoin price is $69,381.01, a change of -0.78% over the past 24 hours as of 12:41 a.m. The recent price action in Bitcoin left the tokens market capitalization at $1.36T. So far this year, Bitcoin has a change of 63.29%. Bitcoin is classified as a Currency under CoinDesks Digital Asset Classification Standard (DACS).
Bitcoin is the world’s first decentralized cryptocurrency – a type of digital asset that uses public-key cryptography to record, sign and send transactions over the Bitcoin blockchain – all done without the oversight of a central authority. The Bitcoin network (with an upper-case “B”) was launched in January 2009 by an anonymous computer programmer or group of programmers under the pseudonym “Satoshi Nakamoto.” The network is a peer-to-peer electronic payment system that uses a cryptocurrency called bitcoin (lower case “b”) to transfer value over the internet or act as a store of value like gold and silver. Each bitcoin is made up of 100 million satoshis (the smallest units of bitcoin), making individual bitcoin divisible up to eight decimal places. That means anyone can purchase a fraction of a bitcoin with as little as one U.S. dollar. The price of bitcoin will rise?
#Write2Earn #BITCOIN #pepe The US Federal Reserve (Fed) surprised financial markets on March 20 by announcing that interest rates would be kept steady at a comfortable level of 5.25% - 5.5%. This decision, in line with analysts' expectations, has breathed new life into the cryptocurrency market, allaying fears of tighter monetary regulations.
Optimism Seeking in Economics
The Federal Open Market Committee (FOMC) maintained its forecast for a cut in interest rates later this year, sending a signal of caution but also confidence in the economy.
Fed Chairman Jerome Powell helped bolster that confidence with his anticipated speech, which revitalized the crypto market, pushing Bitcoin close to annual highs after a period of significant decline ahead of the FOMC meeting.
Impact on Cryptocurrencies
Bitcoin saw an impressive rise, reaching the value of $68,032, marking an appreciation of 6.52%. The market as a whole reflected this positive trend, with most tokens seeing increases between 5% and 15%. Certain cryptocurrencies such as Pepe (PEPE) and Bitcoin Layer-2 Stacks (STX) have made significant progress, exceeding 20% gains.