Bitcoin is the most popular crypto coin since its capitalization accounts for about 90% of the entire market. People earn money by mining coins and by changing quotes. In the second case, the question of the BitCoin exchange rate in the Great Britain Pound pair on the Forex market becomes relevant. In the case of BitCoin, there are day traders and long-term investors, as the coin is relatively stable.
Statistics
The BitCoin exchange rate is volatile. If we analyze the charts, we can see that the daily price change reaches 10-15%. We observe 2-3 pronounced peaks daily, rarely more. Sometimes, there is a breakdown of the level, an increase or fall of the exchange rate by 20-30%. As for the long-term period, we can see the continuous growth or fall of quotations for 10-15 days.
The main influencing factors on the course
Such factors include:
- news background, for example, BitCoin mining using geothermal energy pushes quotes up, and the ban on mining in any country naturally contributes to its fall;
- mention by bloggers and in social networks;
- the rate of the central bank of Great Britain.
Technical analysis
Many traders use trading robots, so you can predict the level breakdown and try to make money on it in 3 out of 5 daily sessions. It is worth noting the recent changes in the crypto market. More and more traders start to make independent decisions, so the change in quotes becomes somewhat unpredictable.
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