Bitcoin cryptocurrency is currently the only payment method with the highest value over any traditional currency. With its rate of business approval and merchant numbers, bitcoin price continues to increase exponentially. Lately, in 2017, the BTC price rises astronomically to $20,000. Its transaction rate increased threefold. BTC payment method consists of various advantages over the ordinary currency. Here are some of the benefits:
- BTC trader has freedom of trading without any interruption from 3rd parties such as banks, financial institution, and government.
- BTC transactions don’t involve any payable tax
- The transaction fee is lower compared to ordinary wire transfers
- International BTC transactions are fast than common bank transfers.
How to calculate BTC price
Bitcoin cryptocurrency is based on its underlying technology known as a blockchain, time-efficient, secure and decentralized record-keeper ledger system. Thus, make BTC the most reliable payment means tool, especially in under-banked and unbanked areas. However, the market typically sets its cost.
Secondly, the liquidity of the market also impacts bitcoin price to a greater extent. Technological events and political events have different varying degrees that typically influenced the cost of the bitcoin. Therefore, you have to carefully while investing with BTC crypto since its value can change unpredictable, and that’s why most people take it has a high risk to invest with it.
Conclusion
In the year 2019, the bitcoin price experience an increase to $13,000 after it retraced back between $6,000 and $6000. In the same year, Bakkt was introduced, which became BTC future exchange. Lately, in 2020, Bakkt and CME option was relaunched respectively.
Bitcoin cryptocurrency has significantly been adopted worldwide as the best currency for investment. However, since the turning of the previous episode, bitcoin price dropped to $4000. Even though there have been constant value changes of bitcoin price, its future remains promising.