Bitcoin… What is this about? It is simply a digital currency that is increasingly popular with the public, especially in China. But how does it work? All the necessary information on how to buy Bitcoins on this page.What is the impact of Bitcoin on financial markets? Does it make money? Focus on an evolving digital currency.
is, above all, a digital currency. But this name also refers to a payment system between individuals. What differentiates it from other such services is that it is a true universal currency that can be used for transactions in the “real world”. It is even possible to exchange it for “real” currencies without going through a banking or financial institution.
Transactions on bitcoinFor
a long time, it was the dollar that was the transaction currency of bitcoin within the platforms for exchanging this digital currency for other currencies. Three years ago (2012), nearly 9 out of 10 transactions were in dollars. Almost 2 years later, the situation is completely reversed.According to a survey undertaken by the Bundesbank, the dollar’s share has fallen to just over 22%. The euro’s rate is 6.5%. And it is the Chinese currency that inherits the largest share of the cake with 75%. The way currencies are distributed in the bitcoin market only illustrates the breakthrough of some platforms: competition is fierce.
A major Chinese influence, supremacy of the United StatesIn
the Bitcoin world, the Chinese market is particularly heavy. Over the past six months, Chinese platforms have been particularly active, recording nearly 70% of volumes worldwide. Since 2013, China’s influence has continued to grow. It should be noted, however, that Bitcoin is now prohibited.However, even if the use of bitcoin is prohibited on the Chinese side (i.e. it is impossible to use it to make purchases), it is still possible to speculate on this digital currency whose rate is particularly attractive in China. You can trade Bitcoin like CFDs on AvaTrade, eToro or Plus500 platforms, but even if the Chinese market is undoubtedly the largest, the United States is still leading the way. Indeed, it is Uncle Sam’s country that is the reference and sets the tone. The influence of the dollar remains undeniable: when the dollar improves, the Bitcoin follows, probably due to the European economy’s prospects for financing and innovation. In any case, it should be noted that Wall Street is the financial epicentre of Bitcoin rather than Beijing.