It will not have escaped any Forex trader’s attention that Bitcoin has become somewhat stagnated in regards to its value, and having reached a onetime high; those days no seem long gone, with investors and traders taking a very standoff type of approach to that digital currency.
However, with sanctions now being imposed on Iran, and with China also feeling the effect of the tariffs being imposed on their goods by the USA, there is a lot of speculation as to whether the Chinese Government may start to relax their outlook on cryptocurrencies in general.
Having deemed Bitcoin to be illegal in China that has left a huge gap in the potential marketplace for that cryptocurrency, and whilst I am more than aware many traders based there will have some way of circumventing the ban, whilst it remains in place, the general population will not want to invest in it in any way shape or form.
However, if the day ever does arrive whereby China permits is citizens to buy, sell and trade on the value of Bitcoin, then its value will instantly soar, and perhaps the Chinese government are buying into it right now whilst the price is low, with the aim of cashing in on it if it does then go onto make it legal!
Ongoing Risks of All Cryptocurrencies
For more novice and first time traders out there, you are going to be very best advised to take a good step back before you ever part with any investment funds regarding buying into or simply trading on the value of any cryptocurrencies.
It is a trading market place that is full of risk, and often those risks are way too high for most investors especially those that only have a very basic understanding of the way that any and all cryptocurrencies work.
Pairing Bitcoin Up with Any Currencies
One final thing I would like to draw your attention to is that you can pair up Bitcoin with any other cryptocurrency or fiat currency at most Forex brokers.
So if you are of the mind that investing in that cryptocurrency or trading on its value is something you do fancy doing, then try and select the pairing that comes with the lowest volatility, which sadly may not be as easy as it sounds, so keep that in mind when you do fancy entering that trading environment and marketplace.