The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

When it comes to Bitcoin, everyone must be familiar with it. Although it is a virtual currency and not real money, it has a very high value. Some people even use it to make a fortune, especially now that the price of Bitcoin has exceeded several levels. It later exceeded 10,000 U.S. dollars. As of the time of writing, the price of Bitcoin is 11,013.87 U.S. dollars. This is the U.S. dollar exchange rate. So, how much does the Bitcoin exchange rate convert to RMB? In response to this question, the editor of the currency circle will reveal to you how much the Bitcoin exchange rate is converted into RMB?

## How much is the Bitcoin exchange rate converted into RMB?

The price of Bitcoin will change with the market conditions. As of the time of writing, the price of Bitcoin is 77,105.9 RMB, which is equivalent to 77,105.9 RMB per Bitcoin exchange rate.

## Factors affecting Bitcoin price:

1. Supply and demand relationship

The total amount of Bitcoin is limited, a total of 21 million, and is not subject to change by any person or institution.

The halving market is also a manifestation of the relationship between supply and demand, and its impact on currency prices is obvious to all. Bitcoin is halved every four years, and the difficulty of obtaining block rewards is also gradually increasing. It is getting harder and harder to obtain Bitcoins, and the number of Bitcoins obtained is getting smaller and smaller. For miners with basic costs, the only option is A higher currency price can meet the needs.

2. Mining cost

Mining has costs. Electricity bills, mining machines and other expenses are the costs of miners. The cost of miners is one of the important factors affecting currency prices.

Among these costs, electricity bill ranks first. If the currency price falls below the shutdown currency price, most miners will shut down. After a large number of miners shut down, the computing power of the entire Bitcoin network will drop rapidly, the mining difficulty will also drop, and the currency price will fall again and again.

The sluggish market will push a group of miners and investors away from the market, and then they will slowly recover. For example, miners have discovered that the cost of mining machines has decreased and the difficulty of mining has decreased; currency speculators have discovered that Bitcoin has become cheaper, and there seems to be no sign of the currency price continuing to fall.

As currency prices pick up, more and more people will come back, and often new people will join, including miners.

3. Public opinion

Now if ordinary citizens know about currency, most of them are willing to invest. Previously, only young IT enthusiasts were interested in Bitcoin because they could take risks. However, middle-aged and older people are now being educated about the currency and are willing to invest even if the value of Bitcoin continues to fluctuate.

As social acceptance increases, demand will increase, which will also affect the price of Bitcoin.

4. Media opinion

The media can also have a significant impact on the price of Bitcoin. Headlines about Bitcoin attract growing recognition, curiosity and, above all, public excitement. Hype from the media can easily cause prices to rise, while negative news can cause prices to fall.

5. Capital manipulation

Unlike fiat currencies, cryptocurrency prices often fluctuate wildly, however, this phenomenon is not as random or natural as one might expect. A significant force behind these price movements are well-funded speculators, who have tens of millions of dollars to invest.

6. News surface

Various news in the market often have a very direct impact on market sentiment. Whether it is good or bad, it can easily be reflected in the currency price.

Of course, the performance of currency prices is restricted by the size and intensity of the news. The more sensational the news, the more obvious the currency price will be. Maybe it's good, maybe it's bad.

This is also a direct manifestation of market sentiment.

7. Policy aspect

Regulatory measures can have a significant impact on currency prices. For example: When China announced the closure of several large domestic institutions and a ban on ICOs in the country, the price of Bitcoin plummeted 29% in one day.

Through the above introduction, I believe everyone has an understanding of how much the Bitcoin exchange rate is converted into RMB. As we all know, Bitcoin is halved every four years, and the difficulty of obtaining block rewards is also gradually increasing. It is getting harder and harder to obtain Bitcoin. Mining It is becoming more and more difficult, which makes the price of Bitcoin rise and fall. Of course, Bitcoin is currently rising. However, the editor of the currency circle reminds investors that when buying Bitcoin, they must Choose a regular exchange to reduce the risk of the exchange running away.