1

how the different exchanges manage to have the price of Bitcoin synchronized (or at least very close)?

  • Arbitrage bots, mostly – Raghav Sood Oct 10 '18 at 5:37
  • May you explain in More detail the arbitrage bots? – iberck Oct 10 '18 at 5:53
3

The exchanges don't need to synchronize. It's just traders keeping the prices close. If the price is $6500 on one exchange and $6700 on another for BTC. Traders will sell on the $6700 exchange and buy on $6500 exchange until they are close. They now own more BTC then before without spending any money

  • 2
    right, it's called arbitrage. – JBaczuk Oct 10 '18 at 13:06

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