Bitcoin short course
Bitcoin short course
If you believe in "Crypto currency," Bitcoin may be the way to go.
What would worry me is the $1000 you have in the sportsbook, upon cashing out, may be worth less or more than $1000. Guess since you are gambling, it adds another gamble upon cash out.
Here is a good short Bitcoin read...
Factors that affect the price
Now let's try to find out what factors affect the growth of the Bitcoin price. The price of any currency or commodity, as it is known, is determined by supply and demand.
The first factor that affects the price of Bitcoin, in our opinion, is its limitations, both in quantity and in production time. The total number of Bitcoins has long been known ? only 21 million.
Thus, the time at which newly created or mined Bitcoins will be available is predictable, and the production rate is decreasing. This factor has a positive impact on Bitcoin and contributes to its growth.
The second factor is the belief in the price of Bitcoin rising to unlimited levels: $ 10,000, $ 1,000,000 and above.
The third factor is the use of Bitcoin as a payment system to transfer money from one point to another.
The fourth factor is the trust of the people. In recent years, more and more people are interested in cryptocurrency and tend to buy it.
More and more companies and merchants accept Bitcoin as a means of payment. This factor also contributes to the growth of Bitcoin.
The fifth factor is the recognition of Bitcoin as a means of payment and investment in it by different governments.
As well as growing legal acceptance, regulation and the acquiring of official status in countries worldwide.
The sixth factor contributing to the strengthening of Bitcoin?s price is its independence from the macroeconomic indicators of the leading countries of the world.
Their national currencies are fluctuating due to the quality of state statistics, but such news has almost no effect on the Bitcoin price.
Now let us consider the factors that actually do affect the price of Bitсoin and may contribute to its decrease. We all know that there is no absolutely reliable currency in the world. So why are we witnessing periodic Bitcoin price decline in the market?
Bitcoin is the the same financial instrument on the currency marketthere all other currencies, stocks, bonds, etc. In other words, it is a commodity that has always been sold and bought.
Since the advent of Bitcoin it has proven to be reliable, but that does not change its exposure to fluctuations that are inherent in the foreign exchange market.
Bitcoin price fluctuations may be caused by searches for the optimal price that are done between buyers and sellers.
Handling Bitcoin exchanges is limited and does not require large amounts of money so it has no major influence on the Bitcoin price. It is enough for one buyer to purchase a large number of Bitcoins to make the market react instantly by increasing prices.
Or, conversely, a large volume of sold Bitcoins will cause a sharp decline in its price.
Change in the price of Bitcoin depends on credibility from the people. Any negative information about Bitcoin could trigger a sharp decline in its price.
Bitcoin has many other competitors from the cryptocurrency family. These cryptocurrency?s success on the stock exchange and the growth of their value could affect the price of Bitcoin.
