Bitcoin Price Analysis
Bitcoin was the world first successful Cryptocurrency, it launched in 2009 after the publication of a white paper on the concept the previous year. New Bitcoins must be mined by solving complex mathematical problems or hashes on the Bitcoin Blockchain, an immutable distributed ledger, accessed by all parties involved in physical Bitcoin transactions. The supply of Bitcoin is strictly limited to just 21 million coins, of which some 18.70 million have been mined so far.
What is the Bitcoin Price?
Bitcoin Price Forecast
Bitcoin US Dollar Price BTCUSD
Bitcoin Euro Price BTCEUR
Bitcoin Pound Sterling Price BTCGBP
Bitcoin Price Technical Analysis
Bitcoin Price Dividends
Bitcoin Price Chart
What Moves The Bitcoin Price?
- Supply and demand – Unlike many other financial instruments the supply of Bitcoin is finite and by and large the price of Bitcoin has been rising over time as more of the 21 million coins come into circulation this reducing future supplies.
- Safehaven and alternative investment flows – Bitcoin is seen as a store of value and hedge against inflation given its unique status its also viewed as a non-correlated investment. All three characteristics attract money into Bitcoin when traditional markets are risk-off.
- Awakening institutional interest – Until recently the majority of interest in Bitcoin has been from retail traders or HNWI from the worlds of technology and computing. However, that is definitely changing as corporates and financial institutions are becoming increasingly involved.
- New Bitcoin-related ETPs – Many would-be Bitcoin investors have been put off of dealing in Bitcoin by issues around security and safe storage. That has created an opportunity for Exchange Traded Products or ETPs, linked to Bitcoin, but which trade in the same way as stocks shares. Each new ETP creates additional demand for Bitcoin trading.
- Investor sentiment and social media comments – Bitcoin remains very sentiment-driven and comments by so-called influencers on social media can dramatically affect the coins price both positively and negatively. Particularly as many Bitcoin traders are also very active on Social Media Networks and Chat apps.