Bitcoin is known for its volatility which makes it a great asset for trading. The fluctuation in bitcoin prices can be attributed to various causes. With the digital currency pegged to other fiat currencies, the price fluctuation may be due to changes in the value of fiat currency, number of transactions over the bitcoin network, other external factors like global markets, introduction of different regulations and other news reports.
Like any other tradable asset, bitcoin prices can also be predicted using similar statistical extrapolations and benchmarks. Using these predictions one can draw strategies for trading bitcoin on various trading platforms and bitcoin exchanges available on the internet.
At BTCNews, we offer bitcoin and other cryptocurrency analysis for the benefit of bitcoin traders out there.