Bittrex
Bitcoin's price had gone back from its price yesterday but it is still almost trading side-ways but the angle of movement denotes to be bullish because it just want to go up. That is a very good sign that BTC has a relatively fast price appreciation and it is not surprising because Bitcoin has only a limited supply and the rewards in mining it gets to cut in half which is contributing about its high valuation in a short amount of time.
So big entities out there like wealthy individuals and even financial institutions are parking their money to bitcoin or at least part of their wealth because of the points that I had given. As time goes by the demand for bitcoin just increases because of new people or investors coming in to the crypto space. They are also a factor in giving BTC the energy to push higher with its value.
Bitcoin is relatively cheap if we would look at the long-term perspective because it is predicted that its price in the near future is out of this world high. As I had said earlier the scarcity of Bitcoin just goes on and never stopping plus with the demand for it is still on-going each and everyday. But cheap as it was the value now of a single Bitcoin is really so expensive to be bought by a normal person but your investment for sure no matter how much it is now will certainly grow if not too fast but at least you will be assured of a big gains in just a matter of months if not years to come.
But what about volatility, is it good or bad? Volatility in cryptocurrencies are normal, sometimes the value of a coin might go down and stays there for a while, some stays down for good, but some goes up after a few months because of many factors such as manipulation, good news about that particular crypto, or just maybe people or traders had developed an interest unto it.
But volatility is good in the most part especially for cryptos that offers a good use case or solves human problems. For bitcoin's volatility is never a factor to be afraid of because it simply just gain in value anyway no matter how the value swings down it will for sure spring back up and much more as time passes by. So it is a good news if BTC's price plunges, it is just an great opportunity to buy more.
Dislaimer:
All the statements her are only from the author's own view, perception, and opinions and should never taken necessarily as facts. Please do your own due diligence and careful research before investing in the high risk/reward and volatile nate of cryptocurrencies to avoid potentially big financial losses.