Bitcoin is a cryptocurrency that is attracting a lot of attention in finance circles. It is outside of the control of any central bank, and the scarcity of the currency is set by a computer algorithm. The BTC exchange rate with dollars varies based on the value of both the dollar and Bitcoin.
Bitcoin has experienced swings in its value due to speculation and the uncertain legal status of the currency, but the general trend is positive. Of course, the dollar has also had its share of ups and downs. A BTC exchange is a central location where buyers and sellers of the currency meet. Because no authority controls Bitcoin, its value is determined by the market transactions on BTC exchanges and nothing more. That leaves considerable opportunities for people to speculate on Bitcoin, betting on how the value will change.
BTC Exchange Rates worldwide
The BTC exchange rate history clearly shows how the currency started off as an obscure, nerdy gimmick and rose to catch the attention of major financial institutions.
A Bitcoin exchange rate chart also makes a good guide for traders- they can learn about what historical forces have shaped this rate and forecast how it might change in the future.
Finding the best Bitcoin exchange is important for getting into this trading market, because you need a reliable way to convert between dollars and Bitcoin.