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Bitcoin - USD vs GBP - More points in USD?

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When it comes to spread betting Bitcoin there are three options. Trade long or short in either USD, GBP or EUR. Now I tend to go for GBP as the margin is lower than the other two options. Also the percentage returns are very similar and not much in it and sometimes GBP gets higher percentage returns than the other two. 


However the one thing I have noticed is that the USD version has always got a bigger change in terms of points. Now in spread betting you profit per point regardless of percentage returns. I know it is 5:50 am in the morning and very early but this would certainly imply that your profits could be greater trading the USD rather than GBP or EUR as the change in points is greater.


Could IG.Com please comment and advise on this specific point. I accept it may be that I have just forgotten something or I am too tired.

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We offer BTC against a number of difference FX pairs, however because the USD value is more than the GBP value (because of the exchange rate between these two currencies) then the same % movement on the USD is going to equal a great number of points movement. 


For example if BTCUSD is $4410 (or 4410 points) and BTCGBP is £3430 (or 3430 points), then a 1% gain on both would be a movement of 44.1 and 34.3 points respectively.


However even though the USD has had a large point movement, you would also need a larger margin deposit to open this  trade. 


Hope this clarifies things. How has your BTC trading gone this week? Did the markets move as you expected? 

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Thank you James for your response. So just to clarify in your example you would have made more profit on the USD pair.


Yes, I know there would have been a larger margin for USD but it would have been worth it for the extra profit. 


My trading this week so far has been excellent on Bitcoin both USD and GBP with occasional EUR but mainly GBP and USD. If this is a bubble then it is a case of making as much as you can as when the herd arrive the smart money will exit. However as long as there is volatility in Bitcoin then there is profit to be made both long and short. The more volatility the better for trend followers. It really does not matter if Bitcoin is going up or down.


I think I shall trade USD more as more points means more profit potential albeit higher margin!

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Interesting website which maybe worth keeping an eye on for any additional BTC news. It looks like the Cash fork is now more profitable to mine. Fundamental news which could have an effect on price movement.


LINK: https://cash.coin.dance/blocks 

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