Price Bitcoin (BTC)
Thanks to the technological development of recent years, money can constitute digital goods traded online, much faster than traditional methods. One of these decentralized methods is the Bitcoin (BTC) ecosystem. It is the most well-known cryptocurrency and continues to generate attention from investors. However, before investing in Bitcoin, the factors that determine the price of Bitcoin and the volatility of the BTC digital asset must be analyzed. For additional information about the origin, use and advantages of Bitcoin, you can access the "About the Bitcoin cryptocurrency" page.
Bitcoin price fluctuations
As in the case of traditional investments, an overview must be formed that aims at possible losses or profits from Bitcoin price variations. In order to be able to discuss the price of the Bitcoin cryptocurrency, it must be specified that the price represents the monetary cost of a Bitcoin. At the same time, it should be noted that the demand for Bitcoin - BTC is an increasingly significant factor, because the cryptocurrency is also traded outside the normal schedule of stock exchanges. With an overview of the cryptocurrency, investors can trade calculatedly and take advantage of Bitcoin price fluctuations.
What determines the BTC price fluctuations of the cryptocurrency Bitcoin?
Bitcoin price is influenced by a number of factors:
Bitcoin supply and demand
Considering the traditional economic concepts, if the demand is high, Bitcoin price will increase. Conversely, if the demands are reduced, the price of the cryptocurrency falls. Demand is influenced by a variety of factors, such as media attention, the global economy and financial regulations.
The Bitcoin digital currency was designed so that there is a limited number of units in circulation. This protocol generally corresponds to the price increase, because it means that the supply of the cryptocurrency is reduced. This fluctuation results from the traditional economic concept that dictates that when demand is greater than supply, the price rises.
Popularity and media attention for Bitcoin
The popularity of the Bitcoin cryptocurrency is a major factor influencing the price of BTC. Simple curiosity about cryptocurrencies leads to high investments, which affect the market price. At the same time, the Bitcoin price is influenced by announcements from state authorities and companies in the field. The phenomenon of FOMO (fear of missing out) can be created around these situations, which is represented by investors' fear of missing the moment of entering the market. To avoid the feeling of FOMO, investors need to educate themselves about the real factors that determine the price of Bitcoin.
The economy of cryptocurrencies
The economic risks of the states constitute another aspect that can lead to the increase in the price of the Bitcoin cryptocurrency. Especially in countries with high inflation, people are turning their attention to new methods of protecting money, a fact that can influence the value and price of Bitcoin.
Blockchain and altcoins competition
Paradoxically, another important factor that determines Bitcoin's price variation is the competition that the main cryptographic currency has from alternative currencies (altcoins). The rise in popularity of alternative cryptocurrencies, such as Ethereum (ETH), represents a high interest in digital assets, a fact that benefits Bitcoin. Because it is the most well-known cryptocurrency, Bitcoin is often the first contact of beginners in the market.
Bitcoin mining cost
The cost of mining Bitcoin - BTC is an important factor for any cryptocurrency and especially for the price of Bitcoin. For the BTC cryptocurrency, the mining cost is roughly a sum of the direct infrastructure and electricity costs associated with Bitcoin mining. At the same time, mining algorithms represent a significant factor that influences the price of Bitcoin. Their difficulty levels can speed up or slow down the production rate of Bitcoin, an aspect that can affect its global supply and implicitly the price.
Bitcoin Price - Frequently Asked Questions (FAQ)
What is the highest Bitcoin price in EUR?
The highest Bitcoin price was recorded at EUR 59543
How can I buy Bitcoin at the best price?
The fastest and most advantageous way to buy Bitcoin is on the Tradesilvania.com platform at the live Bitcoin price displayed in the Tradesilvania user account 24/7.
What is the price of Bitcoin today?
The Bitcoin price varies several times per second in the platform and the instant price is available in the user account. Daily purchase limit (BTC Limit order is 1,000,000 EUR / transaction)
Knowing the causes that influence the Bitcoin price makes it easier to understand price variations for cryptocurrencies. If you have evaluated every economic factor and want to invest in Bitcoin (BTC) , create an account on Tradesilvania and transact in a fast and safe way.