Bitcoin is basically a ‘Cryptocurrency’ that operates without a central bank or an administrator and can be used as a means of transaction between peer-to-peer bitcoin network with a distributed ledger called ‘Blockchain’. Hence, it is also known as ‘decentralized digital currency’ and is widely referred to as BTC.
Table of Contents
How does it work?
Well, it is similar to a buyer-seller market, you buy bitcoins online and trade them for a profit. It is just that you do this on a designated platform like ‘CoinCola’. The most important part of bitcoin trading is ‘Bitcoin mining’ it is essentially the acquisition and creation of bitcoins as a way to introduce more coins into the system, as rewards for doing computational work and these transactions are then recorded in the ledger. These bitcoins are widely used and traded on an online OTC bitcoin trading platform.
Key Facts About Current Bitcoin Market
There are several factors that affect the bitcoin market, such as the supply of bitcoin and market demand for it, the number of competing cryptocurrencies, and the exchanges it trades on.
The supply of bitcoin is impacted in two different ways: Firstly, the bitcoin protocol allows new bitcoins to be created at a fixed rate. Following this new bitcoins are introduced into the market where miners process blocks of transactions. Here on, there is a specific device introduced to reduce the pace of the market volatility. This creates a scenario in which the demand for bitcoins increases at a faster rate than the supply, which helps in driving up the price.
Secondly, supply may also be impacted by the number of bitcoins the system allows to exist. For example. the supply of bitcoin reached 16.8 million two years ago, representing eighty percent of the supply of bitcoin that was ultimately made available. Once 21 million bitcoins were in circulation, prices depended on its practicality, legality, and popularity of other cryptocurrencies.
In a layman’s term, analyzing and studying the value of cryptocurrency is way too tough as there are various factors that affect the value of bitcoin in an unfathomable way. But one should study the charts and predictions that are posted by the industry experts in order to strategize before investing in the OTC bitcoin trading market. CoinCola and Cointracking are one such platform that helps us in understanding the development in bitcoin pricing.
Recent Trends in Bitcoin
According to a popular crypto analyst ‘Dave’, bitcoin surged to 20000 USD in the year 2017, following that a major upheaval took place and set a chain of events in motion to bring down the market to 3200 USD the very next year. His analysis said that it was a critical junction for the bitcoin market as no one could decide whether it was a crisis phase or the market was set to record another huge milestone.
In the initial phase of the year 2019, there were predictions that, bitcoin will once again touch the bottom before rising to set a new all-time high. The month of December 2018, has also historically been the month where most tops and bottoms occurred across financial markets. The analyst believes that if bitcoin falls as hard as it rose, then it will take until the end of the year for bitcoin to return to mean.
In 2018, Christine Lagarde, the Managing Director of the International Monetary Fund (IMF), also expressed central banks should issue cryptocurrencies. According to sources, 2019 will be the year where Bitcoin ATMs will take off in cities across the United States. These ATMs will solely dispense bitcoins for the convenience of the users and could encourage people to start using bitcoin for the first time or start dealing with the cryptocurrency more extensively than before.
Also, there is news around the corner where they have emphasized on having bitcoin-centric tourism in order to encourage tourists to spend and buy more bitcoins when they travel. Additionally, tech brands are also working more effectively to design smartphones with integrated wallets that will help in storing bitcoin and other cryptocurrencies to ensure glitch-free OTC bitcoin trading.
Also Read: How to open a bitcoin exchange
CoinCola- The Ultimate Bitcoin Trading Platform
In today’s world trading with funds on online platforms are the riskiest task to be performed. Among all other cryptocurrencies, bitcoin is the most volatile and pliable to the market conditions. Hence, CoinCola has devised its platform to provide the most undeviating and authentic services to its users.
One can use its local currency to buy bitcoins and trade them for various transactions without any Hassel as it provides a safe and secure option to carry out the procedure. CoinCola allows its users to specify the offered rate and payment approach for selling and buying bitcoins. CoinCola also provides the offer to buy Bitcoins with Gift Cards.
The Gift Card Trading Zone on CoinCola
Gift Cards are known as gift vouchers, which have prepaid money stored in the card in order to use it in exchange for hard money while buying a product or service. It is the best alternative to cash purchases and CoinCola offers the opportunity to buy bitcoins with gift cards.
Following are some of the most unique features that CoinCola offers its users to buy and sell the OTC bitcoins safely:
• CoinCola offers free enrollment of the users and the online bitcoin wallet is automatically created.
• In order to access CoinCola services, you need not download any third-party app.
• It is completely free of charge to purchase Bitcoins out of CoinCola.
• 0.7% commission is charged by the website from the vendors.
• Buying bitcoins with gift cards is a unique and convenient option that many other operators don’t allow.
Thus, CoinCola offers the best of the services to protect your funds and secure your payment gateway from any fraudulent activity.
Check today’s Bitcoin price in USD and get your first Bitcoin on CoinCola.
I am Very Enthusiastic about Writing Tech, Smart Phones, Products Reviews, Offers, and deals. I have been writing on tricks5.com since 2015.