What is Bitcoin (BTC)?
Bitcoin, represented by the ticker BTC, is the first decentralized cryptocurrency and top cryptocurrency by market capitalization. Launched in 2009 by the pseudonymous creator Satoshi Nakamoto, Bitcoin allows users to transfer value through a peer-to-peer network without relying on a central bank or payment intermediary.
Bitcoin allows value to be transferred directly between participants through a peer-to-peer network. Transactions are recorded on a shared public ledger known as the Bitcoin blockchain and verified by computers distributed around the world.
The Bitcoin protocol limits the total supply to 21 million BTC. Each Bitcoin can be divided into 100 million smaller units called satoshis, allowing users to hold or transfer a fraction of one BTC.
Bitcoin’s market value is commonly shown through the BTC/USD rate, which indicates how much one Bitcoin is worth in US dollars. This page provides Binance market data for the live Bitcoin price, trading volume, market capitalization, circulating supply and historical BTC price performance.
What Affects the Price of Bitcoin?
Bitcoin’s price is determined by buying and selling activity across global cryptocurrency markets. When demand for BTC exceeds the amount available for sale, its price can increase, while higher selling activity or weaker demand can push the price lower. BTC price movements can be affected by market liquidity, trading volume, retail and institutional demand, Bitcoin ETF inflows and outflows, regulatory developments, interest rates, broader economic conditions, mining costs, network activity, news coverage, market sentiment and Bitcoin halving events. Because Bitcoin trades continuously across global exchanges, the BTC/USD price can change throughout the day in response to shifts in market conditions.
When Was Bitcoin Created?
The idea behind Bitcoin was presented in a 2008 whitepaper published under the name Satoshi Nakamoto. It described a peer-to-peer electronic payment system that could function without a trusted financial intermediary.
The Bitcoin network became operational in January 2009 with the creation of its first block, commonly called the Genesis Block. Since then, Bitcoin has developed into a globally traded digital asset used to transfer, store and exchange value.
How Does Bitcoin Work?
Bitcoin runs through a distributed network of computers called nodes. These nodes maintain and verify a shared record of confirmed transactions on the blockchain.
The network uses a proof-of-work system. Bitcoin miners use computing resources to confirm transactions, organize them into blocks and add those blocks to the blockchain. Miners may receive transaction fees and newly issued BTC in return for supporting the network.
Bitcoin transactions are public but pseudonymous. Transaction amounts and wallet addresses can be viewed on the blockchain, although a wallet address does not automatically identify the person or organization controlling it.
What Is Bitcoin Halving?
Bitcoin halving is a programmed event that reduces the block subsidy paid to miners by 50%. It occurs after every 210,000 blocks, which is approximately once every four years.
The most recent Bitcoin halving took place in April 2024 and reduced the block subsidy from 6.25 BTC to 3.125 BTC. The next halving is expected around 2028, although the exact date will depend on the speed at which new blocks are produced.
Can Bitcoin Halving Affect the BTC Price?
A Bitcoin halving slows the rate at which new BTC enters circulation. However, a reduced supply rate does not automatically lead to a higher Bitcoin price.
Price movements around a halving may also reflect investor expectations, market demand, liquidity, economic conditions and activity across the wider cryptocurrency market. Previous Bitcoin price patterns should not be treated as a reliable forecast of future results.
Bitcoin is listed on Binance for trade and purchase. Bitcoin's price today is updated and available in real time on Binance.