Why is BTC to USD pair important to traders?
BTC to USD crypto-to-fiat currency pair is a gold standard for the cryptocurrency market. Since its inception in 2009, Bitcoin has proved to be the #1 cryptocurrency in terms of market capitalisation and cost. The US dollar, in turn, is the most traded fiat currency globally.
The crypto market, including Bitcoin, is extremely volatile, which provides huge potential for speculation. Observing the popularity of BTC/USD exchange transactions, there are immense opportunities for traders to profit from the pair’s trade.
BTC to USD trading: the ultimate way to invest in Bitcoin
The ultra-volatile nature of BTC/USD crypto-to-fiat pair makes it a strong alternative to traditional Forex markets. Bitcoin traders can always profit from BTC price swings. You can either go long or short, depending on Bitcoin to USD price movement, and benefit from the price difference.
Proven to be a lucrative investment, Bitcoin consolidates its position as the world's top cryptocurrency. With a 60 per cent growth in less than two months of 2019, investors share a bullish view on Bitcoin price future. At Currency.com, you can trade BTC with 100x leverage and tight spread.
Why trade BTC to USD with Currency.com
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Created in 2009, Bitcoin became a new type of digital currency and gradually gained worldwide popularity. Bitcoin transactions are made without a middleman, meaning no banks or other authorities involved. In addition to being an alternative payment network and a store of value, Bitcoin offers great opportunities for traders.
Key facts about Bitcoin
- The first decentralised cryptocurrency
- Launched in 2009
- The brainchild of a person or group known as Satoshi Nakamoto
- The maximum number of Bitcoins is 21 million
- 80% of all Bitcoins have already been mined
- Bitcoin is considered both a commodity and a currency
- The first Bitcoin transaction was to buy 2 pizzas
Launched at the first cryptocurrency exchange BitcoinMarket.com in April 2010, Bitcoin price was $0.003. Later on, the price rate increased dramatically, bringing more than a thousand per cent earnings to its initial owners.
In 2017, the Bitcoin price surged by more than 220 per cent and reached almost $20,000. In 2018, Bitcoin slid sharply down during the “Crypto Winter” of 2018, when it lost more than 60 per cent, sinking to a $3,000 level. Bitcoin Price Chart shows BTCUSD prices in real-time. Analysts expect 2020 to be an important year for Bitcoin, making positive forecasts regarding the Bitcoin to USD price.
In Bitcoin to Dollar pair, BTC is the base currency and the USD is the counter currency, which means the chart shows how much Bitcoin is worth as measured against the USD.
The US dollar is the world’s most influential currency, which makes up 61 per cent of all central bank foreign reserves. The US dollar also dominates the Forex market – it is involved in almost 90% of all forex transactions. Together with Euro, USD and constitutes over 80 per cent of the world’s currency reserves.
The value of the US dollar is directly affected by the US Federal Reserve policy. Outstanding political events could also lead to a decline in the value of the dollar.
Those, interested in BTC/USD pair trading, should keep a close watch of crypto market news as well US Fed’s releases regarding interest rates and monetary policy changes.