Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.
When you trade bitcoin, you never interact directly with an exchange. Instead, you trade on our buy and sell prices, which we source from a number of exchanges on your behalf. In order to take a position on bitcoin's price, then, all you need is an IG trading account.
- Bitcoin supply. The current bitcoin supply is capped at 21 million, which is expected to be exhausted by 2140. A finite supply means that the price of bitcoin could increase if demand rises in the coming years
- Bad press. Any breaking news which concerns bitcoin’s security, value and longevity will have a negative effect on the coin’s overall market price
- Integration. Bitcoin’s public profile depends on its integration into new payment systems and banking frameworks. If this is carried out successfully, demand might rise which will have a positive effect on bitcoin’s price
- Key events. Regulation changes, security breaches and macroeconomic bitcoin announcements can all affect prices. Any agreement between users on how to speed the network up could also see confidence in bitcoin rise – pushing the price up
Bitzy acts as an 3rd party portfolio manager and trading companion. Some of the features provided bitzy is:
- Price prediction of bitcoin using expected closing, opening, volumes etc. values.
- Live tracking of crypto prices and visualization.
- Customer support for portfolio management.
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