Bitcoin is not covered by an international standard or official index.
The price of bitcoin depends on how much you are willing to pay in a certain situation in a particular country and currency. There is no standard currency like USD or EUR to which bitcoin is bound to.
We get inquiries from users who are asking us to explain why bitcoin differs in Germany (EUR) or in the USA (USD). The answer is simple, it depends on demand and supply. Like the gasoline price differences in the US and Germany for example.
Are the prices different on Google than on BtcPremium?
If you're looking for a rate on Google, you'll get an average estimate. They take the average price of dollar from the selected currencies and convert it based on the estimated exchange rate (HUF / USD). The same goes to other "data providers", each of them are using more than one data sources and it will never be the price you will to pay or receive on BtcPremium or any other trading platform as it does not take into consideration variables such as bank charges, security, financial control, commissions, exchange rate fluctuations, etc.
How does BtcPremium calculate bitcoin price?
It doesn't. We do not set prices and we do not trade on the platform. Bitcoin "price" is a meeting point of demand and supply. If there are more sellers than buyers, the price falls down and vice versa.
- BTC Premium is not setting the prices and has no influence on it
- Bitcoin price is set by "demand and supply"
- BTC Premium has its own trading book