Since many traders trade using this pair, the exchange rate of BitCoin and Euro on the Forex market is highly relevant. With a correct approach and a little luck, you can earn both during the day session and in the long term.
Daily change of quotations
The average indicator is 10-15% per day. On some days, the volatility reaches 25%. The change in the rate of the pair is, on average, 1.5-2% less than Bitcoin and Dollar pair.
Factors that affect the growth of quotations
The BitCoin exchange rate is growing at the moment due to the following main factors:
- positive news background, for example, the permission of a country to trade, the mining of coins through clean geothermal energy, and some others;
- introduction of new banking instruments to improve the safety and comfort of using coins;
- official data on the increase in mentions in social networks/media.
Accordingly, the negative factors include the opposite news. As for the Euro valuation, it is in direct connection with the rate of the European central bank. The geopolitical and economic situation in European countries also plays a big role.
One-day session or long-term investment
One-day trading has the least risks. As practice shows, the pair's exchange rate can decrease for more than one month, so consider this before making long-term investments. One-day trading lends itself well enough to technical analysis, so be sure to use it when making transactions.
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