bit coin technology-what is bit coin and crypto currencies trading all about?

The price of each bit coin is just like any currency or commodity and bit coin technology is constantly traveling up and down the scale of demand versus supply. While this can be disconcerting for those who jump into a trading situation for the short term only, it is actually more comfortable for those who invest for the long term.

These days every investor knows that one must take downturns along with upturns in order to create and maintain stability with any given unit of trade. With that in mind, it is interesting to see that the price of a bit coin unit has steadily increased over the whole timeframe of its existence since its launch in 2009. Please keep in mind that price when applied to bit coin is referred to its exchange rates versus a cash currency as opposed to expressing actual value.

As units of bit coin are traded in the exchanges and the demand for bit coin currency increases over time while the supply stabilizes with minimizing newly created units in the same time frame. The price increases and decreases just like one sees fluctuations in the stock market.

In reality outside influences affect the price as well, and an event that influenced the market price of bit coin is the imposition of MT GOX which was one of the major bit coin exchanges in operation at the time of its security failure. When that event occurred the price of bit coin took a totally expected nose dive-very similar to what happens with any type of market commodity that is traded.

The most important thing about bit coin price is that it is recovered as the other bit coin exchanges strengthened the crypto currency and its trading life. Not only did it stabilize it took off on an extended increase over the course of the following years and that was a very good sign for the long term.

The trading market for bit coin is currently experiencing a gradual decrease however that should in no way be thought of as a sign of decline in the concept of crypto currency overall. This simply indicates that the normal process of a market is in play and going strong.

The overall concept of applying bit coins as a method of payment as well as a trading unit is making its way into the mainstream of the consumer arena and gathering more converts every day. These days’ additional merchants and business offer acceptance of bit coin as payment for goods and services.

This trend will continue to grow and expand in turn the process of this growth will drive the price of bit coin steadily upward as well. Currently the price of bit coin against the US dollar stands at $290.45 per bit coin unit. Again against the euro bit coin price is 245.79 and it is 192.57 against the British pound sterling.

The highest price that has been reached so far ranged around $ 1100, 00 USD and so we can see quite range of prices for the exchange of bit coins. We can see that the bit coin technology and process will go forward consistently for the lifestyle of this new financial tool called bit coin. Please remember that bit coin is the leading resource for managing your bit coin wallet and if you want to get real time prices exchange rates and much more then please visit here.