After several weeks of trading in a narrow range, Bitcoin has breached the $10,000 mark again (with the peaking at a high of $10,200) for the first time since early June.
In addition to the price hit by the economic impact of the COVID-19, Bitcoin underwent a third halving on May 11, cutting the reward for "mining" bitcoin from 12.5 to 6.25.
As bitcoin soared, other digital coins such as Ethereum, Litecoin, and Ripple surged as well.
Besides, the United States Courthouse defined Bitcoin as a "currency" under Washington D.C law. In a recent ruling, Chief Judge Beryl A.Howell wrote that money is "commonly means a medium of exchange, method of payment, or store of value...Bitcoin is these things."
However, the United States Courthouse has identified Bitcoin as Money, which is not Currency, as we know, the money includes currency, in other words, the currency is generally limited by some factors. For example, Fiat Currency is a specific reference to legal tender.
At present, according to the ranking of bitcoin transaction currency, USDT ranks the first, accounting for 64.77%. In second place was the US dollar at 11.26%. The JPY(Japanese yen) came in third at 9.32%. In fourth place is the KRW(Korean won) at 3.83%. In fifth place is the euro at 3.73%.
By 2030, the report predicts the increase in the adoption rate will lead to a 4,000% increase in Bitcoin, a 16,00% increase in Ethereum, a 5,000% increase in Litecoin, and a 5,400% increase in bitcoin cash. At the same time, the price of bitcoin will also be affected by speculation, which is the main driver and price determinant of the cryptocurrency market.
Topic: BitOffer Institute: bitcoin climbed to $10,000 again, other coins rallied behind (Read 62 times)