BTC to PKR - Convert Bitcoin price in PKR
The price converter or the calculator has been given below, where you can convert BTC to PKR or Bitcoin price in PKR.
Put the value you want to convert in BTC column, then it will automatically convert the inserted value in Pakistan rupees. It is the best & easy to use the calculator you will find to convert Bitcoin to PKR.
Live Bitcoin price in PKR on major exchanges
There are many exchanges around the world where you can trade cryptocurrency Bitcoin(BTC). Every cryptocurrency exchange has a little bit of fluctuation in price. Here are rates of BTC to PKR over a few major exchanges of the world.
Bitcoin price PKR live chart | BTC to PKR chart
The live chart of Bitcoin price in Pakistan has been given below where you can see how the Bitcoin price has performed over multiple time frames. OHLC chart option is also available. You can also enter the dates if you want the price history of Bitcoin price PKR between certain dates.
Advanced live Bitcoin price chart
The advanced Bitcoin chart has been given below. You can apply various advanced technical tools to study the chart of Bitcoin cryptocurrency. This chart provides a great interface for the traders to look for trends in various cryptocurrencies.
Detailed Analysis of Bitcoin price in Pakistan
Description About Bitcoin
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Bitcoin is the world's largest cryptocurrency or virtual currency or digital currency in the world. Bitcoin was created in 2009. Satoshi Nakamoto is believed to be the inventor of the Bitcoin. It is not verified that Satoshi Nakamoto is human or machine or something else.
Bitcoins are a decentralised form of virtual money. It means Bitcoins are not controlled by the Government or any other authorised institutions. Bitcoins are created, stored, transferred with the help of Blockchain technology.
Bitcoin is the world's most volatile financial instrument. Its value often makes large swings. In 2017, Bitcoin reached near to $20,000 and it fell back to half of its value in a few months. It is very hard to digest that something can change so quickly in financial markets.
Bitcoins are released into circulation in the market by the process of Bitcoin Minning. Bitcoin Minning takes lots of time and energy to create a bitcoin.
How to buy Bitcoin in Pakistan
It is very simple to buy any cryptocurrency in anywhere. To buy Bitcoin in Pakistan, you need to have a trading account with a broking company having access to crypto exchanges. It is very easy to open the account.
You just to go the websites of the companies like Bittrex, Coinbase etc. and just follow what they ask you to do. You can invest any amount you are comfortable with.
Investing in any cryptocurrency is not supported by the Pakistan government and the State Bank of Pakistan. If you lose your money in crypto in any means, the government of Pakistan is not obliged to help you in any circumstances.
Bitcoin Market in Pakistan
Pakistan’s Governments do not support to invest in bitcoin or in any other cryptocurrency. In 1st Feb 2018, State Bank of Pakistan has also put a ban on all the private and public banks to permit the transfer of bitcoin or any other cryptocurrency in Pakistan.
In Pakistan, there is not a huge marketplace of Bitcoin due to the above reason. The majority of the people don't even know about the details of Bitcoin in Pakistan. In all the other major Asian countries like China, South Korea, Singapore, Japan etc. there is a huge market of Bitcoin. Their governments also support them.
The Cryptocurrency market of Pakistan will not increase until Pakistan’s government fully supports the virtual currency. If some good security features and more transparency is introduced in Cryptocurrency in future, then Pakistan’s Government will definitely support it and SBP also legalise all the banks to permit transactions of Bitcoin and all the cryptocurrencies.
It is also a possibility that Government may approve transactions of Bitcoin and other cryptocurrencies with some tight restrictions and laws. State Bank of Pakistan has supported a fact that they may think to approve transactions in Cryptocurrencies with some restrictions and rules.
Bitcoin Price Prediction
Then, after the dream run of 6 months, the bubble burst and the Bitcoin started falling for a year and it made low of $3,122 in December 2018. Many people lost so much money in this fall. The zone between $3,100 to $3,400 is a very good support zone for Bitcoin.
After making the swing low at $3122, Bitcoin again started rallying for the next 6 months and made a new swing high at $13,880 in June 2019. Everyone thought that Bitcoin will go above $20,000 but Bitcoin again showed that it is the most unpredictable cryptocurrency of the world. Bitcoin again started falling from there and it is still falling.
If we look at the technical perspective, Bitcoin has made a flag pattern on the weekly chart. This Flag pattern may complete at the levels of $5,000. This is also a good minor support level for Bitcoin. As we look at the nature of Bitcoin, it may take support within a few months.
If we look at the daily timeframe of Bitcoin, it is making lower highs and lower lows, that means it is in a downtrend in the daily timeframe.
It is advisable to keep a watch at the chart of Bitcoin for a few months and then decide to make an entry.
Cryptocurrency is a very risky trading instrument. So always be very cautious before making any financial investment in Cryptocurrencies. We don't advise you to invest in any sort of financial security because it involves high risk. We just provide this content for educational and informational purpose only. We are not liable for your loss if you make.
