Up to a couple of years, the Bitcoin to Baht pair was not particularly attractive because of the regulation surrounding the cryptocurrency market in Thailand. However, the country has changed its approach toward digital assets. The acceptance of the major cryptocurrency expanded the forex market trading opportunities – BTC/THB pair has become available on crypto exchanges. The BTC/THB crypto/fiat currency pair has witnessed an increase in the trading volume. Accordingly, liquidity has raised and crypto owners can more easily trade BTC to THB. They can convert BTC to THB on different exchanges in Thailand which are licensed by the relevant regulatory bodies.
After changes in regulatory framework took place, the BTC to THB pair shows an upward trend, but there is also an adequate level of volatility to make this pair attractive. Trading Bitcoin to THB can be quite rewarding because a substantial number of pullbacks are evident in the price charts for smaller and higher time frames.
Since its introduction in 2008, Bitcoin had a significant impact on the financial markets and on trading. Despite the scepticism related to BTC in the early years, it is now one of the most actively traded cryptocurrencies in the world. Bitcoin is a base or quoted currency in tens of currency pairs with a daily trading volume reaching tens of billions of pounds.
Although the name Satoshi Nakamoto is associated with the invention of Bitcoin, in reality, the creator (or creators) of Bitcoin is unknown.
The supply and demand for Bitcoins have a major influence on its price. The cost for mining Bitcoins also affects the value of BTC, in a way that higher costs would imply that BTC value should increase or mining would be unprofitable. The number and strength of competitive cryptocurrencies and the number of currency exchanges which quote the BTC can positively or negatively impact BTC value. Moreover, different regulations and legal issues can affect the value as it was evident in the past.
Baht or Thai Baht (THB) is the official currency of the Kingdom of Thailand or Thailand. Different factors have positioned the Baht as one of the most important currencies in the Asian region. However, the THB has also gone through certain crises in the late 1990s along with other currencies.
The Thai Baht is under the influence of changes in economic fundamentals related to the Thailand economy. Consequently, positive changes in the current account, foreign trade, flow of foreign investments will cause an appreciation of THB value. Other factors which positively affect the demand for THB will also have a positive impact on Thailand’s currency.
The demand for the currency can be affected by the perception of Thailand economy strength. The strength of other emerging economies in the region can additionally influence the THB price movement. When Thailand economically performs better, the Baht may be viewed as safer currency which will increase the demand.
In addition, adverse effects on the tourism sector can negatively affect the currency because this sector is comprising a significant portion of the GDP. But the most important activity which can drastically influence the value of its domestic currency is the export level which amounts to more than half of Thailand GDP.
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