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Bitcoin returned to the US $17 thousand level and three tokens showed the best performance during the week, with appreciation reaching 110%. Despite the fall that occurred in the previous week, Bitcoin showed signs of recovery, and the result couldn't have been different. Check it out below. 

Bitcoin returns to US $17 thousand and three tokens show the best weekly performance

Unlike the previous week, Bitcoin seems to have recovered, returning to $$17 thousand and three tokens showing the best weekly performance: TWT, LCT and OKB. This happened in the midst of speculation, proving that the bearish cycle seems to have come to an end. 

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This index showed a price rally beyond the US $17 thousand. Contrary to what most speculations showed, the asset recorded its highest peak during this week, reaching US $17.250. 

Anyway, at the moment, the bears have intercepted the movement and pushed BTC south again. As of this writing, Bitcoin is trading at around $$17,000, a drop of less than a percentage. 

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Other indices that showed gains during the week were the altcoins, however, this victory has calmed down for the moment. Ethereum has risen from under $$1,200 to a significant high of over $$1,300. 

It's worth noting that Solana, Dogecoin, Binance Coin and Ripple are experiencing some daily losses of up to -3%. Other indices worth noting are Cardano, Shiba Inu, MATIC, LTC, among others, which are experiencing significant losses and gains. 

One of the assets that has grown the most recently is Polkadot, with high capitalization rates. The best performers of the day were Ethereum POW and Terra Classic, with double-digit increases. 

About Bitcoin

Most people have heard of Bitcoin, but don't know exactly what it does in the world. In general terms, it is the first virtual currency created in the world, used to buy products and services in some establishments. 

In short, this currency works like ordinary money, the main difference being that it doesn't have a physical coin or banknote. This asset is literally digital, which is formed from a unique code, falling into the category of cryptocurrencies. 

One of Bitcoin's characteristics is that it is the world's first decentralized currency. In other words, as well as having no physical bills or coins, the model is not regulated by governments or official bodies. 

In other words, investors can buy and sell this digital currency whenever they want, but it's important to be careful, as with any investment. Because it is a limited currency, unlike real currencies, Bitcoin only has 21 million coins issued. 

Bitcoin functions

Like any digital currency, Bitcoin is traded over the internet, either through brokers or investors. The procedure is carried out via the Blockchain, a database where all transaction information is stored. 

In short, Bitcoin transactions are carried out by members, recorded in software and by mining members. As soon as they are validated, these transactions are added to a block, hence the name Blockchain. It is worth noting that new blocks are created every 10 minutes. 

Users' digital coins are stored in the famous digital wallets. Through this same system, investors can buy or sell their assets. These are basically programs installed on computers or phones. 

About Blockchain

As mentioned above, the Blockchain is a system for storing all the transactions that take place between digital currencies, including Bitcoins. 

Finally, users don't have to worry about security, as all transactions are tracked. 

Although it is directly related to Bitcoin, blockchain is not just about that. This is because the system stores data from more cryptocurrencies, as well as important documents. 

Bitcoin's value

Just like any digital currency, Bitcoin suffers daily variations in value, following the law of supply and demand. In other words, the more people are after these assets, the more expensive they will be. However, unlike most currencies, its variations are greater. 

In this sense, in a single day, the value can vary by up to 20%. There are two reasons why these variations occur: Bitcoin is very limited and, in addition, there is a high demand for these coins on the market. 

Thanks to the popularization of digital wallets, the emergence of Bitcoin and the notoriety of digital currencies, the search for bitcoins has increased significantly in recent times. This has increased the price of assets compared to traditional currencies.

Normally, the Bitcoin price is based on the dollar. In this sense, when there is any change in the US currency, the value of bitcoins in Brazil may change. 

Bitcoin security

One of Bitcoin's greatest features is cryptography. It provides extra security on the internet, meaning that any attempt at fraud or scamming is made more difficult thanks to this system. 

Previously, a digital wallet with assets was stolen. This happened in 2019, when one of the world's leading brokers announced a hacker attack, which resulted in the loss of more than $$40 million of stolen bitcoins. 

Another problem could be the lack of regulation of this digital currency, and the Central Bank itself warns about this on its official website. In short, investors need to bear in mind that there may be problems, such as server errors or hacker attacks. 

Investing in Bitcoin

Thanks to the appreciation of digital currencies, more and more people want to invest in these assets. However, before betting on this market, it's important to take some precautions.

Investors need to find a broker or company that specializes in selling these assets, to avoid any kind of fraud or scam.

Also, bear in mind that this type of investment is high risk. In other words, just as investors can get rich, they can lose money.  

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