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Bitcoin is the very first decentralized cryptocurrency that are now widely used as payment system. It was launched in 2009, created or developed by an anonymous man known as Satoshi Nakamoto. Cryptocurrency is term used to derive to digital assets, which can be used to transact in a secured way, that are verfied using cryptography. Cryptography is a word used to decode an encoded data.These transactions are stored on machines that we call computers, by then distributed all over through a ledger, that is called Blockhain.
Due to its very volutile state in terms of price action, Bitcoin have been divided into smaller units where we called Satoshis, which is obviously came from the anonymous creator of Bitcoin. The smaller state of bitcoin can go to 8 decimal places. According to the market assets, Bitcoin can be compared to gold, where it can be valued to cents according to decimal places, and to thousands of dollars if more decimal or to 1.
As mentioned, Bitcoin is used as payments to services or product, by using their Bitcoin Wallet or other digital wallet that supports bitcoin which are termed as Hot Wallet. although it is widely acceptable already on the market and merchant, people still used them as investments because of its very high volulity state, where they hold and keep their Bitcoins on their wallets, or traded them with other Digital assets pairs that maximize the existance of bitcoin.
With its 5th day, will bitcoin continually go on Bull?
After reaching its new high at 18,800 USD, coming from 17,100 USD, some traders are still worrying for reversals. Some experts, it is still safe to stay on buy position, as long as you are trading in short term, with a max of 1h japanese candlestick.
According to Dr. Crypto, one of the traders that I have been following, an imbalance took place where the market shook, and created an oppurtunity to go flow on buy. An imbalance is a "price movements is the result of imbalance and conviction of buyer and sellers" without imbalance, price don't move and nothing to do with technical analysis.
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