Bitcoin price analysis says that it will soon hit $13k US

Bitcoin price analysis says that it will soon hit $13k US. The belief that bitcoin hike will increase is fueled by August 10, 2020 closing value. Specifically, when the stock market closed on Monday, August 10, 2020 the crypto currency value was $12k US. This by itself is good news for Bitcoin as the company’s value has been has been sliding. Specifically, Bitcoin price analysis as shown the value shifting between $11,500 to $11,700 for the last week.

Bitcoin price analysis says that it will soon hit $13k US

Today marked the first time the crypto currency has reached current value levels since August 2, 2020. While not all analysts have analysis Bitcoin’s price believe it will continue to rise a large majority do. If the crypto currency manages to reach or rise above $13k US it will be the first in years. Specifically, according to Bitcoin price analysis records the crypto currencies highest recorded value was on December 18, 2017. At that time Bitcoin had hit $19,198 in value.

 

 

Blockchain era

 

 

Bitcoin was one of the first crypto currencies in the blockchain era and is one of the most prominent. Indeed, this can be seen in the complexity of its currency calculations. Specifically, by having a unit of measure in the “Satoshi” that represents 100 millionth of a single bitcoin. To put it another way, $13,000 US would equal around 110,000,000 Satoshi. There is no doubt that Bitcoin puts a great deal of effort into maintaining its crypto currency. Indeed, they were the first to use Blockchain data formatting for crypto currency.

The very nature of this formatting creates an unbroken chain of transactions it is possible to track all transactions. In the case of bitcoin, the founder went by the alias Satoshi added additional security. Specifically, each new data block in the chain for Bitcoin contains a record of the previous block. As a result, it becomes virtually impossible to alter or delete any transaction in the chain. This is so successful that not only has Bitcoin continue to thrive but other crypto currencies have copied it. After all, mimicry is the most sincere form of flattery.

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