What I noticed is that prices in different fiat currencies in the same market for the same cryptocurrency are different. But what are the reasons behind that? Does it have something to do with the fiat currency market volume? What variables do I need to know to predict the price difference?
BTC / USD: 6286 USD (~ 4749 GBP)
BTC / GBP: 4787 GBP (~ 6336 USD)
The price in GBP tends to be higher (currently + 0.8%).
BTC / USD: 6263 USD (~ 4732 GBP)
BTC / GBP: 4743 GBP (~ 6277 USD)
The price in GBP tends to be higher (currently + 0.2%).
BTC / USD: 6263 USD (703.5k JPY)
BTC / JPY: 697.2k JPY (6206 USD)
The price in JPY tends to be lower (currently -0.9%).
BTC / USD: 6269 USD (~ 5363 EUR)
BTC / EUR: 5373 EUR (~ 6280 USD)
Currently the price is higher in EUR (+ 0.2%). But it changes from time to time. Sometimes the price is higher in USD. Why?