Bitcoin is beginning to build a key level of support above the $10,920 level after surging by 21.36% over the past week.
The head honcho of cryptocurrencies has, however, begun to lose momentum against a number of altcoins with the likes of XRP and Litecoin performing well.
Bitcoin dominance in terms of market cap is down to 62.6% despite being as high as 65.09% in June as capital begins to flow back into more the speculative altcoins.
With Bitcoin currently trading at $11,115 it remains in a bullish posture as we edge closer towards the monthly candle close.
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In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are.
The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins.
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