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Cryptocurrencies: what is the price of bitcoin this January 29

Bitcoin was the first cryptocurrency to hit the market.Devised by Satoshi Nakamoto in 2008, this digital currency promoted a libertarian ideal and sought to put traditional monetary and financial institutions in check after the global financial crisis that occurred that year.

Donald Trump’s electoral victory meant a positive movement for the main cryptocurrencies in the market.At the end of 2024, bitcoin registered a new all-time high that managed to exceed $107,000 per unit, after the American president reiterated his idea of creating a strategic reserve of the cryptocurrency in the United States.

Digital currencies will be a focus of attention this year, the initiatives of the president of the United States and the development of new artificial intelligence models will play an important role in the price of these assets.After the launch of the new Chinese AI model DeepSeek, BTC and other cryptos fell in most stock markets.

Cryptocurrencies: what is the price of bitcoin this January 29
Physical representations of various cryptocurrencies on the motherboard of a computer (EFE/Sedat Suna)

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In March of last year, bitcoin achieved a new all-time high, surpassing previous values and reaffirming itself as the most important cryptocurrency on the market, approaching $73,000.This record was achieved amid an unprecedented flow of investments into cryptocurrencies, a notable development for the digital financial sector.

The increase in the value of bitcoin occurs in a context where there is a massive influx of capital into cryptocurrencies, indicating growing investor interest and confidence in these assets.The rise in price benefits not only bitcoin but also has a positive impact on the cryptocurrency market in general, favoring greater stability and visibility, according to a Bloomberg analysis.

Experts financed this increase due to different factors, such as the institutional adoption of cryptocurrencies, the search for investment alternatives due to global economic uncertainty, and continued innovation in blockchain technology that supports bitcoin and other digital currencies.This combination of factors has created an environment conducive to continued growth in the value of Bitcoin.

To acquire and exchange them, specialized portals are used.Its value varies depending on supply, demand and user commitment, so it can change faster than traditional money, but the more people are interested and want to buy a certain currency, the higher its price will be.

Cryptocurrencies: what is the price of bitcoin this January 29
Juan Mayén, CEO of Honduran firm TGU Consulting Group, demonstrates how to use a cryptocurrency ATM in Tegucigalpa, Honduras.(REUTERS/Fredy Rodriguez)

However, whoever invests in this type of digital assets must be very clear that this form brings with it a high risk to capital, since, just as there may be an increase, it may also unexpectedly collapse and wipe out the savings of its users.

To store them, users must have a digital purse or wallet, which is actually software through which it is possible to save, send and transact cryptocurrencies.In reality, this type of wallet only stores the keys that mark a person’s ownership and right to a certain cryptocurrency, so these codes are the ones that really need to be protected.

Aiman Sohail
Aiman Sohail
Dr. Aiman Sohail is a seasoned journalist and geopolitical analyst with over a decade of experience covering global affairs, politics, and current events. She earned her Bachelor’s degree in International Relations from Quaid-i-Azam University, Islamabad, followed by a Master’s in Political Science from Lahore University of Management Sciences (LUMS). Driven by a passion for understanding global dynamics, she completed her PhD in International Security Studies at The University of London, focusing on South Asian geopolitics and conflict resolution. Sara began her career as a correspondent for The Express Tribune, covering domestic politics and economic developments. She later joined Geo News as a senior reporter, specializing in geopolitical affairs, foreign policy, and conflict analysis. Over the years, her articles have been featured in major national and international publications, including Dawn, The Diplomat, and Al Jazeera English, earning her recognition for insightful analysis and in-depth reporting. In addition to journalism, Sara frequently contributes to academic forums, think tanks, and panel discussions on international relations. Her expertise lies in South Asian security, diplomatic policy, and global political trends, making her one of Pakistan’s leading voices in contemporary geopolitics.

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