Bitcoin remained rangebound between $19,000 and $19,400 during the European session as traders waited for further clarity on the macro environment.
Bitcoin is the most valued cryptocurrency, and its fluctuations have an impact on the market. Although Bitcoin is trading bearishly, losses are contained by the $19,000 support level.
Guinness World Records names Bitcoin the “First Decentralized Cryptocurrency.”
Since 1955, the annual Guinness World Records (GWR) reference book has documented the world’s greatest natural and man-made achievements and events. GWR updated its annual records this year to include Bitcoin, the first and most valuable cryptocurrency network.
Satoshi Nakamoto’s cryptocurrency and blockchain network, Bitcoin, has received widespread appreciation and recognition from both online and offline media outlets.
🚀 The Latest edition of Guinness World Records features #Bitcoin and various other events from the crypto industry under “Cryptomania” category. pic.twitter.com/TbuSRmTl6n
— traderX (@PASPtraders) October 19, 2022
For example, the term “Bitcoin” first appeared in Scrabble in 2018, and it was added to the Merriam-Webster Unabridged Dictionary the following year. This year, Guinness World Records (GWR) recognized Bitcoin as the “first decentralized cryptocurrency.”
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | 19367.08 |
Can Bitcoin Downtrend Continue?
Peter Schiff, an outspoken critic of Bitcoin and the cryptocurrency sector in general, feels that recent developments augur another another decrease in Bitcoin’s value in the near future.
Schiff directed a tweet at Bitcoin holders, claiming that the cryptocurrency had fallen behind the recent stock market rise and was only slightly above $19K at the time of writing.
Just in case HODLers aren’t paying attention #Bitcoin hasn’t participated in the recent rally and is barely above $19K. If Bitcoin can’t rise with other risk assets, imagine how much it will fall when risk assets resume their decline. In fact, Bitcoin may lead the next leg down.
— Peter Schiff (@PeterSchiff) October 18, 2022
Furthermore, Schiff believes that Bitcoin may be the cause of the next market downturn. The Nasdaq, S&P 500, and other major stock indices all advanced for the second day in a row.
