**# Understanding Bitcoin Price Charts
**Whether you already own bitcoin or plan to get some, sooner or later you'll want to know how much the cryptocoins are worth when converted to your currency of choice.
Later, you may want to know whether to hang onto your coins or to sell them - hopefully making a little profit in the process. However, analyzing price charts and understanding trading terms from the financial world can be rather daunting, especially for the beginner.
This guide serves as a useful primer of the basics.
What is bitcoin's current price?
The best place to find out the latest price of bitcoin (currency symbol: BTC or XBT) is the exchange you bought them from (Bitstamp, Bitfinex and BTC-e being the most popular exchanges at the moment), or Coindesk's own Bitcoin Price Index.
Knowing bitcoin's current price is one thing, but pretty soon you'll want to know where prices will go in the future.
Methods for predicting price trends
Forecasting price movements of anything traded at an exchange is a risky probabilities game - nobody is right all the time. Many traders have lost lots of money, if not their life savings, into such attempts.
The two main approaches to predicting price development are called fundamental analysis and technical analysis. While fundamental analysis examines the underlying forces of an economy, a company or a security, technical analysis attempts to forecast the direction of prices based on past market data, primarily historical prices and volumes found on price charts.
Where to find bitcoin price charts
To perform technical analysis on bitcoin price and volume history, you'll need bitcoin price charts that display data in a more readable manner than just plain number tables. Good places to start are the charts on Coindesk's Bitcoin Price Index.
To start with: a simple price chart
The most basic type of price chart displays prices as a line
Closing prices of any given period of time (a month, a week, a day, one hour, etc) are used to draw the price line. This kind of chart can be used to get a quick overview of what prices have been doing lately, but traders need more data to draw their conclusions.
Trader's choice: the candlestick chart
The most widespread type of chart among traders is the candlestick price chart, as seen below:
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