Bitcoin maintains an upward trend and reaches a new mark above 63,000 USD

We explain how bitcoin works and how this currency managed to change the cryptocurrency market (Infobae México)

The most popular cryptocurrency on the market, bitcoin, registered gains in the last few hours and maintains its positive streak, however, analysts consider that the currency may have greater volatility in the coming days due to speculation about another fiscal stimulus announcement in China and the expiry of BTC options worth $1.1 billion.

Bitcoin was the first cryptocurrency to hit the market. Devised by Satoshi Nakamoto in 2008, this digital currency promoted a libertarian ideal and sought to challenge traditional monetary and financial institutions after the global financial crisis that occurred that year.

He bitcoin (BTC) uses cryptography to guarantee that its operations are not regulated by any banking institution or body, which in turn has put the currency in the middle of a debate about its volatility, since by not requiring third parties has been accused of facilitating illegal activities such as fraud.

Despite skepticism, there are those who have opted for bitcoin: El Salvador became the first country to adopt this cryptocurrency as legal currency on June 9, 2021, and Prosperous Honduras, a special autonomous zone in Central America, has also done the same.

Physical representations of various cryptocurrencies. (REUTERS/Banco Santander)

The cost of the bitcoin cryptocurrency for this day at 09:00 hours (UTC) is 62664.22 dollars. This means that the digital currency reported a change of 3.12% in the last 24 hours, as well as a movement of -0.11% in the last hour.

Due to its level of capitalization, this digital currency occupies the position #1 among the most popular.

This March 12 bitcoin has achieved a new all-time highsurpassing previous values ​​and reaffirming itself as the most important cryptocurrency in the market, approaching the 73 thousand dollars. This record was obtained amid an unprecedented flow of investments into cryptocurrencies, a notable development for the digital financial sector.

The increase in the value of bitcoin occurs in a context where there is a massive influx of capital into cryptocurrencies, which indicates a growing investor interest and confidence in these assets. The rise in price benefits not only bitcoin but also has a positive impact on the cryptocurrency market in general, favoring greater stability and visibility, according to an analysis of Bloomberg.

Experts financed this increase due to different factors, such as institutional adoption of cryptocurrencies, the search for investment alternatives due to global economic uncertainty, and continued innovation in blockchain technology that underpins bitcoin and other digital currencies. This combination of factors has created an environment conducive to continuous growth in the value of Bitcoin.

To acquire and exchange them, they are used specialized portals. Its value varies depending on supply, demand and user commitment, so it can change faster than traditional money, but the more people are interested and want to buy a certain currency, the higher its price will be.

Juan Mayén, CEO of Honduran firm TGU Consulting Group, demonstrates how to use a cryptocurrency ATM in Tegucigalpa, Honduras. (REUTERS/Fredy Rodriguez)

However, whoever invests in this type of digital currencies must be very clear that this form brings with it a high risk to capitalWell, just as there can be an increase, it can also unexpectedly crash and wipe out the savings of its users.

To store them, users must have a digital purse or walletwhich is actually a software through which it is possible to save, send and transact cryptocurrencies. In reality, this type of wallet only stores the keys that mark a person’s ownership and right to a certain cryptocurrency, so these codes are the ones that should actually be protected.

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