Bitcoin / Pound

The BTC/GBP pair allows traders to take positions on the exchange value of Bitcoin (BTC) relative to the pound sterling. BTC’s total market capitalisation was just recently almost 50% of the wider cryptocurrency market’s overall value. Traders with GBP as their account’s base currency will most commonly trade this pair for exposure to BTC price movement, but it can also be used to hedge currency risk. A long (buy) position would be taken on BTC/GBP if a trader expects Bitcoin’s value to rise and a short (sell) position if a downturn is anticipated.