bitcoin

Currency exchanges face numerous regulatory hurdles, including the requirement to register with the Financial Crimes Enforcement Network in the US because they act as "money transmitters," as well as the requirement to build an internet infrastructure that is secure enough to fend off hacker attacks. As a result, there aren't many relevant high-volume exchanges (Böhme et al., 2015). The three biggest exchanges at the time (OKCoin, Huobi, and BTC China) accounted for more than 97% of all Bitcoin trading over a six-month period in December 2016. (Bitcoinity, 2016)
Nevertheless, the top three suppliers' combined market share did not alter (Bitcoinity, 2019). As a result, the description given in Böhme et al. (2015) is unlikely to still be accurate given how rapidly the market for virtual currencies is expanding and how many exchange providers are vying for market share.
Additionally, conventional indicators like the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) can be utilized to detect or facilitate trading opportunities and decisions (Bitfinex, 2017). However, because Bitcoin exchange refers to a set amount of a conventional currency, Böhme et al. (2015)'s authors point out that virtual currencies mimic a payment mechanism rather than what economists consider a currency. In a different economic analysis, Yermack (2015) comes to the conclusion that Bitcoin might operate more like a speculative investment than a kind of money.