Bitcoin Resurges: Hits $24k Mark in Latest Price Update
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- Bitcoin’s price surges to $25,000, reaching its highest point since August 2022, as it gains 8.2% in the last 24 hours, according to CoinGecko data. The cryptocurrency’s price has rebounded after reaching its lowest value in November 2022.
- An ancient Bitcoin wallet that had been inactive for a decade moved 412.12 BTC back into the market on February 8, 2023, resulting in a 287,778.79% profit percentage. Additionally, Ordinals, which enables the creation of Bitcoin NFTs, or “digital artifacts,” on the Bitcoin network, was launched on the mainnet.
- After over a decade in operation, LocalBitcoins, one of the earliest and most well-known peer-to-peer Bitcoin exchanges, ceased operations on February 10, citing the ongoing “crypto winter.” Meanwhile, the Philippines is preparing for the launch of a Bitcoin book and the first-ever Bitcoin Island Retreat.
Following the ups and downs of the leading cryptocurrency Bitcoin over the past year through the bear market, the price of the crypto giant is now back at the 24k mark as it jumped $24,600. This surge was the highest point since August 2022 in which BTC gained 8.2% in the last 24 hours, as per the data from CoinGecko.
The price of bitcoin sank to its lowest since in November 2022 with just a value of $15,649, that was two years after it’s all-time-high price of $69,044.77 in November 2020. As of writing, BTC was up by 11.6% for the last 24 hours and currently trading at $24,690.79.
On February 8, 2023, a Bitcoin wallet address from the Satoshi era moved 412.12 BTC back into the market. The whale had a significant 287,778.79% profit percentage since the wallet’s last transaction m on October 1, 2012, where 1 $BTC is worth $8.00. (Read more: Ancient Bitcoin Wallet Strikes Gold: Moves $9.5 Million After Decade-Long Hibernation)
Moreover, Ordinals was also officially launched on the Bitcoin mainnet. The protocol allows the Bitcoin version of NFTs , dubbed as “digital artifacts”, on the Bitcoin network. Last February 14, Ordinals inscriptions crossed 100,000. (Read more: What is Ordinals Bitcoin NFT | NFTs on Bitcoin Sparks Debate)
On the other hand, As of February 10, 2023, one of the earliest and most popular peer-to-peer Bitcoin exchanges LocalBitcoins shut down and stopped its operations after more than 10 years. The decision cited the still ongoing crypto winter. (Read more: End of an Era: LocalBitcoins Ceases Operations Amid Crypto Winter)
In the Philippines, Former Solicitor General Florin “Pilo” Hilbay, current Dean of Silliman College of Law, recently announced that they will launch a book on The Bitcoin Monetary Network on March 9th with Silliman University. (Read more: Silliman University Launching a Bitcoin Book)
On March 27 to 29, 2023, the first ever Bitcoin Island Retreat is set to happen in Boracay, Philippines where Bitcoin thought leaders, investors, and enthusiasts will gather to network and discuss the technology. (Read more: Pouch.ph, Coins.ph Co-Present Boracay Bitcoin Conference)
This article is published on BitPinas: Bitcoin Resurges: Hits $24k Mark in Latest Price Update
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.