Bitcoin has become the gold and silver of the internet in recent years . It is volatile currency making it a risky investment according to many people's perspective but it could prove a fruitful investment to most . Bitcoin price in trading terms refers to the last average sale made on a particular trading platform . Therefore you can not really have a fixed price that you can follow since the price changes day in day out . It also varies depending on the country due to difference in fiat currencies that is , the price in Russian Roubles is not the same as that in US dollars .
The Bid price is highest made and the ask price is the lowest made trade price of bitcoins in a day . Here's an example of the day 25th April 2020 ; the sum of all existing bitcoin was roughly 18 343 126 and it's market value was 138,974,045 billion US dollars . On average one bitcoin was equivalent to 7500 US dollars . The price varied slightly depending on the trading site , for example Karaken price was 7665 US dollars while at CoinBase it was at 7662 at 1420hours . Bitcoin price is given in US dollars by default but you can easily covert it into the suitable currency on the trading platforms .
Bit coin trends can be studied using three different forms of data representation , a line chart , the OHCL ( Open High Low Close Graphs ) and candle stick . As the trend when studied from a line graph shows a rise since Thursday of this week , traders must have their fingers crossed . Waiting to see if the prices continue the upward trend at 7700 - 8000 or they will fall back to the 7300 - 7100 range . Prices in the month of March had gone down dramatically recording lows of upto 3100 US dollars .
The fundamental and technical technique are used individually or together to help study bitcoin prices and make predictions . Fundamental technique is futuristic and looks outside the box into factors happening in the world of technology that may affect bitcoin price trends . On the other hand the technical technique works with past trends and statistics shown in bitcoin trading to predict how they may behave in future .
Experts on bitcoin trading are predicting that the bitcoin prices to skyrocket as we near the halving event said to happen this coming May . A halving event is whereby the production of bitcoin is reduced by half , reducing the amount produced in every 10 minutes by half ; this event occurring every four years . This will see that the bitcoin market gets rid of any inflation that was creeping in and ensure bitcoin remains in demand . In a Coindesk interview , Antoni Trencheve head of Bitcoin lending platform commented on the recovery of bitcoin after the price fall in March 2020 , " Despite the mid March 2020 bitcoin sell-off when we saw a close to fifty percent drop , it has now within a month recovered ninety five percent . "
It is probably a good time for those traders looking at making profits to sell their bitcoins . However there are those bitcoin die hard investors who will hold on and wait for the predicted fifty thousand dollars per bitcoin to come to pass so they can reap the fruits of their patience . You can not really predict bitcoin trends therefore any move you make should be based on your knowledge on bitcoin trading trends and history as well as future predictions from experts .
There are a few platforms that can help you keep track of the bitcoin market ; these top cryptocurrency exchanges includes Binance , Coinbase , HitBTC , Okex and Kraken . These may act as a guide to help you make the right moves and take advantage of the prices be it deciding to buy or sell your bitcoins .
Traders are constantly warned to do proper research and understand bitcoin trade before investing big money into it . Bitcoin volatile nature could bring you great earnings or great losses depending on how smart and timely your moves are .