Understanding what drives your currency will help you understand when to trade and why. With the right strategy, cryptocurrency trading can be very profitable. Cryptocurrency trading started to take off massively in 2017, with Bitcoin (BTC), Ethereum (ETH) and some ICO-funded altcoins surging.
Other events in the cryptocurrency industry have also driven up the price of the BTC/USD coin pair. On the other hand, the reason for Bitcoin’s rise could be due to recent reports indicating that the effects of the Chinese mining ban are starting to wear off. The strong market performance that tends to support the coins of the BTC/USD pair could see it move higher.
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