Key words: Investing bitcoin, bitcoin cash, bitcoin price today, bitcoin price.
Investing bitcoins represent your opportunity of making a fortune. Bitcoin cash is the most innovative digital currency. It puts an end to high fees, capital restrictions, frozen accounts, and administrative hassles. Bitcoin was created since 2008 and relies on achieved decentralization, peer-to-peer network, and transparency.
Being the most representative currency, several people have always been interested on studying how bitcoin’ price changes. Throughout this writing, we shall be looking at all the different changes that have been brought by bitcoins and the potentiality of making fortunes investing bitcoins.
Being the most innovative currency, bitcoin is referred to as a pure peer-to-peer electronic cash. From the year 2011 to 2013, bitcoin price raised one hundred thousand times its previous price. This rise made it to go above 1000 dollars in November 2013. However, bitcoin price did not flourish for very long due to the bankruptcy of one of the biggest bitcoin company Mt. Gox’s what is Mt Gox, is it a partner or member. Nevertheless, bitcoin price rose after the crises were over. It was noticed in 2016 that bitcoin price had changed significantly from 360 dollars to 766.62 dollars with even greater increase potential by the end of the same year. This observation makes us to ask a couple of questions in order to better understand the bitcoin price today and to forecast that of a nearby future. These questions include; what can really influence bitcoin price to change? What is that relationship existing between bitcoin price and other economic indicators. What is the connection between the bitcoin price today and the stock market index? Although these questions remain unanswered, a good knowledge about this sector is gradually installing in several counties.
Due to the challenges in classifying bitcoin, only a few countries permeate investments in bitcoin. Some countries, such as China have banned the use of bitcoin cash. Even though most countries in the hold different policies regarding bitcoin cash investment and use, this did not slow down its development. It can clearly be observed that bitcoin price today has the same tendency in exchange of UD and CNY Dollar. What is UD and CNY
Although the bitcoin price is flourishing, academic scholars still lack a definition to give to it – to clarify whether it is simply an investment or a currency. The bitcoin’s value depends on the belief from users and the market strength. Gold price is an object of reference that can play the ideal role of a variable that can influence bitcoin price today. The following variables can greatly help in an attempt to analyze what factors can influence bitcoin price:
- US dollar index;
- Consumer price index for all urban consumers;
- Effective federal funds rate; and
- Gold fixing price.
Bitcoin being a fully-transparent and decentralized digital currency, is a form of digital cash which is not controlled by any government. This means that with bitcoin cash, you are allowed to transfer unlimited amounts of money instantly without any government red tape and wire fees. A lot of people perceive it as a scam. Bitcoin has always claimed to give stability to people without any access to basic banking services. It also claims to give full security to those who are suffering due to government currency controls.
Bitcoin has a real shot at completely changing the world’s financial system. The bitcoin cash market is one which is not overrun with Wall Street bullies. Trading bitcoin is a game changer whereby anyone can open a trading account in less than 10 minutes. Investing in bitcoins has no account minimum and you can fully trade without going through a middle-man.
Trading bitcoin is simple and amazing; you can begin by publicly posting your trades online and you’ll find how it’s good. It offers you the accuracy you’ve never had from trading in traditional markets for decades. Although the media hates volatility in bitcoins, it is what really makes you accurate. Herein, we shall show you how to join this untamed market. We’ll show you how easy it’s to go no matter whether you are a professional or a layman.
Currently, there exists several hundreds of industry leaders investing in the bitcoin economy. A good number of these investors played great and important roles in building the internet. These key players founded Paypal, LinkedIn, America Online, Facebook, Virgin Group, and Reddit. What’s amazing is that they are heavily investing bitcoins.
Without any doubts, the bitcoin cash economy is witnessing booming growth presently with tens of millions of dollars of daily transactions and volume. Its exponential monthly growth leads to the bitcoin price of today. It is not surprising that the world’s biggest investment banks have been seriously investing hundreds of millions of dollars into bitcoin technology and startups.
Within a couple of years, it was noticed that over 100,000 merchants started accepting bitcoin including large and highly credited organizations like Microsoft, DELL, Overstock, Expedia, Greenpeace, and Red Cross.
The number of all those accepting bitcoin cash is growing on daily basis and even politicians have started to accept bitcoin cash for campaign fundraising.
The Money making potential of bitcoin cash
If you are able to perfectly understand how to trade bitcoin on the market and also catch waves of volatility, then you’ll be able to increase profit exponentially. Several people often worry about the long term value of bitcoin yet it is not something to worry about because you are able to make enough money no matter which way the price goes. This means that the sit, wait and buy strategy is out of place when investing bitcoin.
If your timing is right, you will be able to make returns which are as high as 59% per trade. Your returns can be compounded by repeating this process several times. Before adventuring in to bitcoin cash business, it should be noted that it is a new technology with enormous benefits and risks. Thus, it is important for you to start by properly learning how it works before risking your money. Nevertheless, with our guide you’ll be given the chance to make the next bitcoin success story. We shall present the best potential ways to make profit from bitcoin after teaching you the ins-and-outs of bitcoin.
Ways on how to maximize your wealth potential with bitcoin cash
Bitcoin being the new form of money that represents the gold rush of the digital age has a profit potential that surpasses anything that can be seen in the traditional financial markets. Although people can likely make some money in bitcoin by applying a buy and hold strategy, much profit potential awaits those who learn how to purchase and trade bitcoin cash. Instead of investing bitcoin and waiting for its price to rise before selling, you can take advantage of its volatility and make profit when the price is low and when it is high. You should not only be hoping of buying at the right time before there is an explosion in price, also take an active role in your bitcoin investment if you want to make greater profits. A glance at any market chart will reveal that price tend to go up and down.
If you are lucky to have purchased at the lowest price, you’ll be able to sell at the highest price and make some money. Nevertheless, in this same period, you can multiply your profit by actively trading bitcoins. The bitcoin price today can move over a thousand dollar but the pattern it takes is that of two steps forward and one step backward meaning that you can purchase low and sell high thereby maximizing your profit potential.
Investing bitcoin and growing in bitcoin cash is very easy due to the following reasons:
- A good number of people trading in bitcoin have little to no professional training;
- There is an extremely low level of competition; and
- Its investors over-trade the market by making moves based on emotional whims.
Thus trading bitcoin is very easy and anyone can participate. It is unlike many financial markets whereby there is a required minimum portfolio size of at least 25,000 dollars. With bitcoin, you can literally trade with 5 bucks meaning that bitcoin together with other crypto currencies have no minimum account size requirement.
Benefits of investing bitcoin
Investing bitcoins is extremely lucrative due to its ability to increase the percentage of your returns since it is highly volatile. When compared to traditional markets, bitcoin trading fees are minimal. There are exchanges with bitcoin cash that permeate you to instantly open an account without the irritations of submitting identification. It is normal to have different prices across multiple exchanges because there is no central authority that sets the price of bitcoin. It is very easy to send bitcoin across multiple exchanges.
Bitcoin is different from the stock market as it is not dominated by some high frequency supercomputers. There is no way that the supply of bitcoin can be arbitrary changed in order to manipulate the price. Your chances of making a fortune with bitcoin is extremely elevated if you have knowledge in trading education and an effective risk management strategy.
If you are in possession of 1,000 dollars then there is a chance for you to register an account and wait for a home run trade where you leverage your trade 20x thereby increasing your portfolio size to 20,000 dollars. That’s pretty nice when compared to a 1 to 3% earning on a saving account per year. Wealth is usually created by properly investing in high yielding activities.
During each online purchase you are required to give your name, card number, address, and secret code. In the case that this information is intercepted, then someone with all your payment information has the ability to ruin you. Over the past 5 years, about 27 million Americans have been victims of identity theft. Nevertheless, we thank Bitcoin together with the other crypto currencies that allow you to make payment without divulging your personal information.
Understanding how investing in bitcoins work
Bitcoin is made revolutionary by its decentralized payment network. The core of what keeps bitcoin outstanding is its public ledger that fully records all transactions on the network. By downloading the bitcoin original software, anyone can keep a copy of this public ledger which is also referred to as a blockchain. This original software is referred to as the Bitcoin-QT. Once this program is downloaded in your computer, you’ll be running a full node on the network. These nodes are in possession of the protocol’s rules and announce transactions. The greater number of nodes the network has will lead to more decentralization and greater security. Thus, no single target can be attacked. In addition, there is no institution that has the power to censor bitcoin. This software was designed and secured in order to act as a wallet from which you can send and receive coins. The bitcoin’s cryptography is highly considered as one of the most secured ways of keeping money and personal information using private and public keys. These two keys are unique in their functions yet both are top secured against identity theft. The private keys allow you to send money while the public key represent the address that you give out in order to receive money.
A bitcoin wallet represents the best way for you to store your private key and also access funds safely. Both public and private keys look like a long string of numbers and letters. Some of them are represented by QR codes which can be scanned using smart phones or computers.
The right way to purchase bitcoin
You can easily get bitcoins by buying them. The bitcoin industry is exploding with new companies that are coming up with innovative ways on how to purchase and invest bitcoins. We already have debit and credit cards that are directly linked to a bitcoin address thereby permeating you to use your coins anywhere. There exist three basic ways through which you can purchase bitcoins:
- From a hot wallet service;
- Through an exchange; or
Each of these ways has its own set of advantages and drawbacks which we shall be looking at below.
Buying on the exchanges
The best way to purchase bitcoins at the fairest price is from a reputable exchange. All exchanges always come with a secure wallet which safely stores your coins as you trade. Here, you can fund your account by sending dollars through your bank account or by sending bitcoin to the deposit address. Purchasing bitcoins with your credit card is actually on the horizon.
Quick purchasing services
This is unarguably the quickest way for people to purchase bitcoins. Here, you can purchase coins directly from companies that offer an easy bitcoin purchasing service by simply linking your credit card or bank account to their site. This is the best option for those who enjoy making online purchases but do not want to expose their personal credit card information over the internet. The hassle with this method is that you are often required to send in the ‘’know your client’’ verification.
Although it is not the quickest way to purchase coins, it does have its own advantages. Being very easy and less stressful, it allows you to meet up with people that you find in your local classifieds at a coffee shop to make a bitcoin cash purchase. Remaining true to the spirit of decentralized peer-to-peer technology, purchasing bitcoin cash from your peers does not require identification or third party financial institution. The main disadvantage with purchasing your coins locally is that at times local dealers tend to sell bitcoin cash at a premium. When trading with such partners, make sure that you both move to a public area where you wait and see at least three confirmations before handing over the cash to them. Immediately you receive your bitcoins, you can invest or start trading at the spot.
How to make bitcoins work for you in a lesser time
In hunting for the fancy and perfect flawless trading system, you are more likely to get hooked in your investment. Success in trading has to do with keeping everything very simple. You have to understand how emotion drives the market. The main benefit in trading bitcoin is the fact that you are in a market that is made up basically of traders and investors. Below are simple steps to respect:
Find the trend early
There are three things but the market can only represent one at a particular time. They are; trending, channeling, and breaking out. There exists no market with a constant trend. A trending market is referred to as one which is stair-stepping up or down. Research has demonstrated that the easiest type of trade that people can pick and succeed is the trend trade. The trend is traded by actually getting involved in market activities when the market has already established a clear direction. When the market is up, the goal should be to purchase bitcoins as price thereby taking a low risk and creating a high reward entry as profit. Therefore, being cautious enough not to be late for a trend is precious for anyone who wants to make wealth. There is no issue at the price that you are purchasing as long as there is someone ready to give you more than the price. Entrepreneurs should note that trends can develop on both sides of the market meaning that you can have bull trends when the market is moving up as well as you can have bear trends when the market is moving down. Such clearly predictable moves in the market are often caused by human emotions. It has been noticed that fear is stronger than greed for people get greedier as the price keeps moving up yet they are highly sensitive to danger which brings great panic.
Trade against the herd
The goal of a successful business person is to purchase low and sell high in order to make more profit. It is easier to purchase when everyone has driven prices high than to purchase when everyone is panicking. It is for this main reason that markets tend to reverse when everyone is expecting the opposite. Therefore, we can conclude that the best way to be on the safe side is to better understand what the vast majority of people are thinking. Once you get their thinking logic, you can easily anticipate the next move thereby making huge sums of money. It is wise to be scared when people are greedy and when people are scared.
Purchase when the panic starts to subside
The most favorable time to purchase bitcoins is when everyone is out of panic. Purchasing becomes the best trade to make when prices seem as if they’ll never recover again. The stronger the panic, the bigger the rebound. In such situations, it is wise to purchase at a discount price in order to sell at a price that permeates you to make much profit immediately everyone in the market realizes that the panic is over. For the past years, this has been the highest potential trade yet you need to fully master what you are doing. This might seem difficult to understand for young traders - that’s why it is advisable to join communities of experienced traders. These professionals will coach you by telling you when to enter the market and why at the particular moment.
Sell when everyone else is buying
You can profit by selling when everyone is buying just as you can profit by buying when everyone is selling. Several traders like to purchase from the market where the trend is already cut and dry. Research by experts revealed that the best time to sell bitcoin is when the bitcoin price is very high.
By properly informing yourself on how to invest in bitcoin your chances of gaining wealth are high. However, you need to be cautious of scammers.