The BITCOIN: Understanding The Market

Abstract

Technological advances revolutionize the ways and change the interrelationship that economic operators establish with markets and society. Virtual currency transactions are becoming more common and Bitcoin has come to position itself as the market-leading currency based on its technology used to ensure the transparency and effectiveness of transactions, known as chain of blocks or Blockchain, but in addition to experts in the field and academic researchers interested in deepening these issues, there is a world of readers who enter into understanding this topic , for this purpose this article has been prepared to help to understand the characteristics of this world. In the first place, key tools and concepts are provided to understand the dynamics of Blockchain and its close relationship with Bitcoin. It explains the conceptualization of token and as part of the Initial Coin Offerings (ICOs), as well as explaining how the latter help the development of new virtual currency projects; figures on the current situation of ICOs and websites specialized in the field are also provided. It describes the cryptocurrency market, total capitalization and excluding Bitcoin, providing percentage of the scope of major cryptocurrencies. It characterizes the evolution of the Bitcoin market and describes some of the causes that specialists believe caused the fall in Bitcoin prices in 2018 and the argument of why it recovered in 2019.