REVISTA DYNA NEW TECHNOLOGIES

The process of controlling its market, using blockchain technology, made it transparent and secure, making it attractive for its facet of eliminating the traditional banking system, especially given the deep financial crisis that was occurring at the time. BITCOIN began trading at $0.0008 a unit, but soon rose in value, first slowly and then more rapidly, reaching $250 in 2013. This blockchain computer process of authenticating transactions, called mining, carries a reward in the form of the creation of new coins as payment for the work done.
Nakamoto mined approximately 1.1 million BITCOIN and disappeared in 2010. He relinquished responsibility for its development until it was completely decentralised, reducing conditions were set to prevent excessive creation and accumulation of ownership, and the maximum number of units to be created was set at 21 million. Currently, the number of mined units is just over 19 million, of which one million appear to still be in the hands of the creator Nakamoto.
If there is one thing that characterises the transactions and thus the value of BITCOIN, it is its extreme volatility and its dependence on factors that are not yet well known and studied. Until the end of 2017, the unit value was growing smoothly and steadily, especially since the onset of the 2008 financial crisis. Between 2016 and mid-2020, it oscillated around 10,000 dollars per unit, but throughout 2021, for reasons that are not well known, perhaps due to excess liquidity in the markets, there was a spectacular rise that took it to a value slightly above 68,000 dollars at the end of that year, the highest in its history. After more than a year at these levels, there was a sharp decline that more or less stabilised, keeping it between 20,000 and 30,000 dollars throughout 2023.
In addition to global financial events, BITCOIN is also sensitive to statements and/or decisions of prominent figures in the industrial or financial world. The spectacular rise in 2021, for example, is also attributed to Elon Musk's decision to acquire BITCOINs for his business or for trading his products.