đThe BTCUSD pair shows the Bitcoin/US dollar rate. The instrument is popular with Forex traders as the demand for cryptos is steadily growing and Bitcoin remains the most traded crypto asset.
Bitcoin is a virtual currency that has no physical form. That's a digital code that users can transfer to one another without intermediaries. Transfers are made via a blockchain network containing encrypted information about all transactions.
From its inception to the present day, Bitcoin has been the most popular and searched-for cryptocurrency. That's the world's first digital coin. Its appearance marked the epoch of decentralized finance. So, only demand affects the Bitcoin rate, and it's only growing. The accessibility of this asset explains its popularity â everyone can buy or mine coins. However, Bitcoin mining implies using powerful computer systems.
The BTCUSD pair has been drawing professional traders' attention from the moment of its appearance in the Forex market. Bitcoin's drastic growth and predictability make the pair a reliable and profit-yielding market instrument.
The fans of this cryptocurrency are sure that Bitcoin is the future of the global financial system. So, analysts predict its further uptrend. When dealing with the BTCUSD, traders should pay attention to position trading strategies.
