Start Trading Bitcoin with CMTrading
Bitcoin is a digital coin, designed to be transferred between people in virtual transactions. It exists only as data and not as physical object; you cannot actually hold a Bitcoin in your hand or keep it in your home. Now is the right time to get into Bitcoin trading as it still offers a very lucrative investment opportunity.
Trading Bitcoin is very easy and can be done in a few easy steps. The first thing you need to do is choose a top regulated broker so that your funds stay safe and secure. Next: open an account, make a deposit, and start trading.
Trading cryptocurrencies is possible through a trading platform, such as MetaTrader 4. Cryptocurrencies and Bitcoin are generally traded against the US Dollar. However, it should be noted that trading Bitcoin with a broker means trading contracts for difference (CFDs), without physically owning the asset. In fact, trading Bitcoin CFDs also allows investors to profit in both rising and falling markets.
When it comes to trading Bitcoin strategies, just like any other, it is a market asset. Therefore, it can be affected by the same basic and psychological factors as other financial instruments. All cryptocurrencies are volatile and make great trading assets for all traders.
Any trader starting to trade Bitcoin should take the time to study the news and learn how the market reacts to it, since news and events can greatly affect the price of cryptocurrencies.
To get in on a surging crypto opportunity or short the latest bubble, you need to understand the factors that have an impact on Bitcoin’s price:
Limited supply – Like all crypto currency, there is a limited supply of minable coins. The current bitcoin supply is capped at 21 million. A figure which expected to be exhausted by 2140. This finite supply means that the price of bitcoin will increase if demand rises in the future.
News and events – Like most assets, any breaking news and events will affect the price of Bitcoin. Cryptocurrencies in general are prone to volatility caused by breaking news. Any news which concerns bitcoin’s security and value will have a negative or positive effect on the coin’s overall market price.
Integration – Cryptocurrency has come a long way and is being adopted by more mainstream organisations and firms. Bitcoin’s huge public profile fully depends on its integration into payment systems and banking frameworks. If this is carried out successfully, demand will rise and so will its price. Any form of regulation or scrutiny damages its reputations and hurts its price.
Key events – Global banking organizations are constantly updating and changing regulations as and when needs arise. Regulation changes, security breaches, and macroeconomic announcements can all affect crypto prices. An example would be an agreement between users on how to speed the network will drive up the price. If, however, regulation is introduced to curb the use of bitcoin, this will be damaging to its reputation and a blow it its price.
To get in on a surging crypto opportunity or short the latest bubble, you need to understand the factors that have an impact on Bitcoin’s price:
Limited supply – Like all crypto currency, there is a limited supply of minable coins. The current bitcoin supply is capped at 21 million. A figure which expected to be exhausted by 2140. This finite supply means that the price of bitcoin will increase if demand rises in the future.
News and events – Like most assets, any breaking news and events will affect the price of Bitcoin. Cryptocurrencies in general are prone to volatility caused by breaking news. Any news which concerns bitcoin’s security and value will have a negative or positive effect on the coin’s overall market price.
Integration – Cryptocurrency has come a long way and is being adopted by more mainstream organisations and firms. Bitcoin’s huge public profile fully depends on its integration into payment systems and banking frameworks. If this is carried out successfully, demand will rise and so will its price. Any form of regulation or scrutiny damages its reputations and hurts its price.
Key events – Global banking organizations are constantly updating and changing regulations as and when needs arise. Regulation changes, security breaches, and macroeconomic announcements can all affect crypto prices. An example would be an agreement between users on how to speed the network will drive up the price. If, however, regulation is introduced to curb the use of bitcoin, this will be damaging to its reputation and a blow it its price.
Increase in digital and mobile payments.
Paper money is slowly being used less and less. PayPal and Skrill are some examples of recent paperless ways of sending transitions online. Bitcoin is faster and easier to use. It is being more and more accepted worldwide, and more retailers are starting to accept bitcoin.
Governments are slowly allowing cryptocurrencies to be used as a form of payment.
When Bitcoins first hit the markets regulators and governments were very skeptical, however, with time this has changed.
For example, Japan has recently announced that it recognizes Bitcoin as a legal payment method. Australia and Russia are moving in the same direction. Several banks are looking to the technology and solutions for managing the high demands of bitcoins today and in the future.
Bitcoin’s worldwide perception is improving
While in the past people thought the anonymity of Bitcoin led to criminal activity, it has now been proven that Bitcoin has stood strong during the test of time. International institutions, top retailers and investors are now involved in Bitcoin trading.
Demand for Bitcoin reaches all time high
Around the world the demand for cryptocurrencies is growing. The demand for Bitcoin is high even in emerging markets, since Bitcoin is considered a more stable alternative to cash. Some countries like the USA, Japan and Brazil have the largest Bitcoin economies in the world.
Bitcoin is a payment system introduced to the world in 2009 was the first digital currency to be created. It is also the most respected, capitalized, and traded cryptocurrency in the world. Bitcoin trading is booming, and a big reason for this is the volatility of this cryptocurrency.
Here are some advantages for trading bitcoin with CMT: