What caused the interest of traders in the BTC/AUD pair
Bitcoin to the Australian dollar (Bitcoin to AUD) is a popular pair of investors and traders not only in Australia, but also in other countries. Since its inception in 2009, Bitcoin – the base currency of this pair – has been the leader among all altcoins in terms of both value and market capitalization.
The Australian dollar – counter-currency – is among the top 5 best-selling fiat currencies in the world. It is the official currency of the Union of Australia, including mainland Australia and its territory, Christmas Island, Norfolk, Keeling (Coconut Islands), as well as Nauru, Kiribati, Zimbabwe, Tuvalu and other countries.
The cryptocurrency market is very volatile, which gives great potential for speculation. To avoid missing the best time to invest in a BTC/AUD pair, keep track of the Bitcoin to Australian dollar chart live on Currency.com.
Why BTC trading to AUD is an opportunity to make a profit
Although BTC/AUD is lower than BTC/USD, it is growing steadily. The hyper-volatile nature of cryptocurrencies makes them a strong alternative to traditional markets. Traders always have the opportunity to profit from Bitcoin price fluctuations. By opening a long or short position, depending on the movement of the price of currencies in the pair “Bitcoin to AUD,” you can consistently benefit from the price difference.
Over the 11 years of its existence, Bitcoin has proved to be a profitable investment. The beginning of 2020 became optimistic for him and strengthened the position of the largest cryptocurrency. Experts predict an increase in the price of Bitcoin both in the short and long term.
Watch live Bitcoin against the Australian dollar by Investing.com. Convert Bitcoin to AUD and trade with arm 100x. High liquidity and narrow spreads offer excellent revenue opportunities.
Review of BTC
Bitcoin has opened the world to a new type of digital currency. Today it is the most popular and most expensive cryptocurrency, which serves as the gold standard for altcoins.
Decentralization of BTC transaction excludes intermediaries represented by banks, financial institutions, authorities. This is not only an alternative payment ecosystem and a repository of values. These are also great opportunities for traders.
BTC in Facts and Figures
- First decentralized cryptocurrency
- The brainchild of a person or group named Satoshi Nakamoto
- It is considered both an item and a currency
- August 8, 2008 registered domain name bitcoin.org
- January 3, 2009 generated the first block and the first 50 bitcoins
- 21 million will be the emission of bitcoins
- 17 million (80%) bitcoins have already been mined
- The first notable transaction is the purchase of two pizzas for 10,000 BTC at the rate of 1 BTC = 0.0025 USD (0.0037 AUD)
In July 2010, in just five days, the Bitcoin exchange rate increased tenfold to $0.08 and soon after its price began to rise sharply. Those who then invested a couple of thousand dollars in it and kept them all this time, today became millionaires.
Cryptocurrency is not tied to any country or region and geopolitical factors do not significantly affect its value. Bitcoin volatility also depends on demand, rates, regulatory rules, forecasts and market mood.
Review of AUD
In the Bitcoin-Australian Dollar pair, BTC is the base currency, and AUD is the counter currency (quotation currency). The BTC/AUD chart shows how much Bitcoin costs compared to the Australian dollar.
AUD in Facts and Figures
- Appeared February 14, 1966
- Included in the top 5 most used fiat currencies in the world
- Occupies 8.6% share in daily Forex operations
- Refers to freely convertible commodity currencies
- Currency Regulator – Reserve Bank of Australia (RBA)
- “Australian” works under the sign of the dollar $, but is called AU $ or A $ – so it differs from “American”
- Currency depends on prices in commodity markets
Australia is one of the five largest gold exporters. Exports of gold and its products account for half of the country’s total exports. The commodity export orientation of the Green Continent is 85%. The correlation of the price of AUD and commodity commodity markets reaches 80%, so prices for precious metals affect the exchange rate.
The country is also dependent on emerging Asian markets. China for Australia is the largest trading partner. The slowdown in China is reducing demand for Australian commodity exports and reducing the cost of AUD.
Those interested in trading the BTC/AUD pair should closely monitor crypto market news, RBA interest rate decisions and Australia’s relationship with the Asian market.
In 2020, analysts expect an increase in the cost of Bitcoin, making positive forecasts regarding the BTC/AUD pair.
The Bitcoin cost chart for Investing.com shows the BTC price rate to AUD in real time.
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