The World of Cryptocurrency - Bitcoin Volatility
Most of our fellow "cryptonians" specifically those who are new to this kind of currency were so nervous and afraid to get involved with this bitcoin due to its high volatility - unpredictable change of price either it drops rapidly or it will skyrocket unprecedentedly. But for those who are risk takers, it's a mouth-watering for them to throw their precious penny in the pot and hoping that they will hit the mark.
We just need to understand and put in right perspective on what really volatility is. All currencies have volatility, the reason why cryptocurrencies seem to have more volatility than other currencies is that cryptocurrencies having a smaller market. Bitcoin market cap is just about 130 billion mark while the US dollar is in the trillions and on a daily basis, the transactions of US Dollars are in multiple billions. The transactions alone of US dollars surpassed basically the Bitcoin market cap.
If the currency that is very big amounting in trillions and has a very big market share - it's not going to be affected directly with the turbulence kind of like you wouldn't feel the waves as much in a big boat. The waves and ripples are negligible in an ocean liner - we cant feel the turbulence as much as the way we feel in a smaller boat. It is very much comparable to the effects of the volatility of cryptocurrencies more so than we do with the big currencies. But of course, the big currencies have their own fluctuation, we just don't even notice it unless it's a huge fluctuation.
Bitcoin volatility is not something to be afraid of but instead we will treat it in a positive way to take advantage of it. Some lending platform was enjoying to its being so volatile - the ever-growing bitconnect earned much whenever there is a big difference of its volatility within 24 hours period. The other ICO's that seems to follow bitconnect footprints were Hextracoin, Ethconnect, and Ucoin in which their lending platform will depend on the volatility of its coin.
judging by the schedule, and there is a double top. I think there will be a deep correction to the area of $ 5,500, do you think this is possible, given that China wants to turn off the Sichuan province from electricity for the mining farms, and there is known to be concentrated a very large part of the bitcoin hash. This could negatively affect the price in the short term. In advance I apologize for the text, I'm from Russia and I have bad English
Your english writeups is good buddy😉
China already banned ICO few months ago and it affect bitcoin market indirectly. Eventhough china pulled out cryptocurrency, japan took the ball taht china thrown. And now according to the latest news, it seems china will reconsider cryptocurrency in their market 🤣
Nice write up, thank you!
My take is that if you're concerned about price volatility then cryptocurrency is not the asset to be involved in. If you choose to be involved decide what kind of participant to be; an investor or a trader and, for the love of all that is holy, DO NOT RISK MORE THAN YOU CAN AFFORD TO LOSE.
Trading or investing is hard work and there are no short cuts. You're probably making a mistake if you think you're gonna be rich just by being involved in crypto. But it's cool. No one's here to judge, only to support.
Price volatility will always be a thing; it's a nice way for people with more money than you (i.e., Governments) to scare you out of it by moving price against you. Who wants an asset that will fluctuate in value by 50% in a day?
Anyway, like I said, nice write up and keep up the great work!
Currently, im investing on ICO's and it gives me more than 300% profit - just like what happened to hextracoin which i bought it less than a dollar per coin and currently its price is 29$ per coin. Just imagine how much i earn having 1200hextracoin? If we hit the right ICO then we will reap huge profit on it instantly.
Volatility is just normal in cryptocurrency world and this gives handsome income on lending platform crypto since they based their income on volatility.
I tried learning a lot about bitcoin when i came here. That explains why i enjoyed this
I love investing on bitcoin 😄
So do you profit quite well?
Yup, i do have profit also. But the huge return is in ICO's - it can gain almost 300% profit if you hit the right coin.
Wow i like you so much, you replied well in a friendly manner.
Thanks buddy 😄
good informative post my friend
thank you for sharing
@elizahfhaye thank you for posting this. It was very interesting and I learned many things about this currency.
@hatimbenya
Thanks :)
You're welcome @elizahfhaye , and keep sharing posts like this.
Interesting way of investing. But the problem is how to pick right crypto with great potential.
In my case, i consider the hype of the coin as a positive indicator but i will not stop there. I will do the research specifically its site expiration on when will it expire. Usually, scam platform just got 1 year validity on their site. I do prefer also those coin having lending & staking platform - this will continue invites more investor in their business. 😄
Careful, My forecast through 31 December bitcoin will fall by 40-50%
What is there in dec 31?
But c´mon bitconnect is most probably a scam right? They will probably exitscam one day
I heard it first in the youtube's videos that bitconnect is a scam and they said that it will end soon, but that video is almost 3 years ago already. One thing is sure, everything in cryptocurrency world is a risk due to its being a virtual currency- why dont we take a risk in a more profitable way? I for one doing bitconnect for almost 3 months now and i already surpassed my ROI. If you seen @craig-grant an @trevonjb - you wil encourage to do bitconnect :)
Some of my proceeds in bitconnect i send it here in steemit since i do believe steemit is one of the best platform in cryptocurrencies. For me its a worth-taking risk :)
your post is so helpful...........
please upvote, comment, and follow me I'm going to follow you
nice post... please follow me,,,,,Vote