Bitcoin Rallied Thursday, Expect More Attempts at $10,000 Soon
Bitcoin prices moved a bit lower Thursday testing support near $9,000, and bounced trading as the # 1 concurrency sets up another attempt at $10,000 the Key resistance. Wednesday price rallied to $9,745.
Currently, Bitcoin is trading at: $9,244.085, +427.37, or +4.85%, as of 2:12a BST, the market is open
Notably, early Thursday morning, the 17-M’th Bitcoin was mined. It was the 1st time the cryptocurrency reached a million-coin mark since Y 2016, when the 16-M’th Bitcoin was mined.
Under Bitcoin’s current rules and blockchain setup, there are only 21-M Bitcoins that can be created ever.
It is a finite supply, capped at 21-M coins that is a core principle of Bitcoin creator Satoshi Nakamoto’s thesis.
Mining Bitcoin is an extremely energy-consuming process, and only about 1,800 Bitcoins are mined on an average trading day. And because Bitcoins are mined in small blocks it is unlikely the crypto world will know exactly who mined the 17-M’th Bitcoin. With Thursday’s 17-M’th Bitcoin, about 81% of all Bitcoin supply are accounted for
Bitcoin to Replace Gold?
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