Bitcoin (BTC) is a high profits high risky investment. The token was launched in 2009. Going by Bitcoin white paper, the primary purpose of the BTC token is to enable peer transactions. The tokens exist in the form of digital currency and do not take any physical form. The token transfers from one digital account to another through a digital wallet. You can visit this website to register and start buying, selling or using this virtual currency for your day-to-day trading.
Bitcoin operates using blockchain technology and a decentralized finance model. Blockchain is an online ledger that stores information about every user’s transactions. The concept of blockchain has been in use through Bitcoin. But moving aside, today blockchain exists as a separate technology. Many leading companies and research agencies are making their investment in this technology. The utility and flexibility of using blockchain for financial services are going mainstream. Blockchain allows for faster transactions with a scalable and flexible platform to operate. Like blockchain, the concept of decentralized finance is also simple. Since Bitcoin exists in digital form, the tokens eliminate the role of banks. The transactions are completed on the web without involving any regulatory agencies. Banks or any other regulatory agencies do not monitor such user transactions. The role of banks comes into play only at the time of liquidating holdings.
Considering the above working model, there has been negative and positive response about cryptos. Crypto enthusiasts vouch for cryptos. On the other side, investors and market experts are calling out the negative impact of cryptos. Not only on the economy but cryptos are highly subjected to price volatility. The token fluctuates in price every day. Since the market operates 24*7 the prices change without stability. Also, since the market is open globally various factors control prices. Majorly, the prices fluctuate as a result of price hype in the global market.
With the growing interest in BTC investments, the concept of Bitcoin trading gained popularity. During the initial days, the concept was limited to only buying and selling Bitcoin. But with increased adoption, many investors made their way to trading. Today, investors buy and hold BTC tokens in their wallets. The tokens are sold when prices change. The changes can be positive or negative in the market. Various factors impact the prices of Bitcoin in the global market. The primary factor being the token supply. There is a higher cap on the supply of BTC tokens. The supply is limited to 21 million and is expected to exhaust by 2140. This is a continuous factor driving the price of BTC tokens. The fear of missing out has been driving the price factor. Yet another factor is its ability to integrate with any other technology. The network can adapt to any banking and payment system. Also, the network is open. It means anyone with a charm for development can enhance their flexibility.
The fifth-largest Swiss bank enables Bitcoin trading
Yes, this is another milestone in Bitcoin’s success. The first largest Swiss bank – Postfinance will enable BTC trading. The feature will be made available to more than 2 million customers with the bank. The bank will allow customers to buy, sell, and hold crypto tokens. The feature will be available for use from 2024 onward. Other than being a retained bank, Postfinance also works as an extended arm to post office service. The bank is already partnered with Swissquote to enable crypto transactions. But, with this new decision, the bank will work to make an independent platform to enable these services.
The retail banking head of Postfinance commented that this is the right time to enter the market. Cryptocurrencies have been attracting large-scale institutional investments. The bank has been conducting market analysis and trend-based studies about cryptos. The past 18 months have proven lucrative for individual and institutional investments. Also, investors are looking at various opportunities to handle easy tools. There is nothing more convenient than your bank enabling such services for you.
The decision from the Swiss bank at a time when BTC tokens are trading at a low rate. The market price has slashed from $70k per token to $20k. There have been significant reactions in the market about its prices.
Despite the market performance, it wouldn’t be wrong to assume that BTC will recover.