Understanding Bitcoin Price Charts

Understanding Bitcoin Price Charts

 

Bitcoin is something that is ever growing. It’s still a brand-new industry and crypto-currency that more and more people are becoming interested in with every passing day. You’ve heard about, and you want to take part in the rat race. There’s only one problem, you have no idea when or how to invest. You may be an experienced investor, but you are uncertain as to how to or when you should invest. You need help understanding the Bitcoin Price Charts. So, that is what we are here to talk about. This is your simple guide to understanding the Bitcoin Price Chart.

 

Understanding Bitcoin Price Charts: Price Trends

 

When it comes to predicting price trends, there’s two primary approaches you can take. These are not the only two, but they are probably the ones you want to look at if you are still new to bitcoin. The First Method would be Fundamental Analysis. Fundamental Analysis looks at financial statements from companies, as well as its competitors and the market in general.  When fundamental analysis is applied to potential futures, the focus remains on the overall state of the economy. In this analysis, they include factors of all kind. Why? Because literally everything effects the economy, which in turn will affect the price of bitcoin. Things like interest rates, production, earnings, GDP, housing, manufacturing, etc.

Technical Analysis, on the other hand is more a security analysis. It forecasts the direction of prices by studying the past market. Basing its conclusion based on patterns, rather than basing it off the current and potential future state of the economy.

These two methods are not exactly what you would call full proof. There are some that states that both methods maybe can predict potential outcomes, but when it comes to actually predicting the stock price accurately, there’s a great amount of unpredictability. This argument is call the Efficacy Market Hypothesis. This hypothesis is not necessarily full proof either. It’s sort of a topic of some debate.

 

Understanding Bitcoin Price Charts: The Significance of Candlestick Charts

Continuing with the theme of price trends. Candlestick charts are a style of financial charts that are used for explaining movement in things like currency. Each Candlestick is a unit of measure of time. Most of the time one “candle” signifies one day. So, what kind of data does a candle stick chart show? Well, it shows the opening price of bitcoin in a day, the lowest price, the highest price, and the closing price.

 

Understanding Bitcoin Price Charts: Color Significance

Understanding the color significance of Candle Stick Charts is pretty simply, but just in case you are not aware I will go over the basics. The color of the candle body indicates whether the closing price was higher that the opening price, the lowest and highest price given the period as well as the closing price. Green mean a raise and red means a drop in the price. These sorts of charts are a part of the OHLC family. This is one of a multitude of other chart types to suit any advanced trader’s performance. So, it really depends on you and your preference.

 

Understanding Bitcoin Price Charts: Conclusion

These are some very basic tool that you can use to just get started. If you are really considering becoming a full-time investor in Bitcoin, you’ll have to dive in and get your hands dirty. You can read articles and guides on the internet, and but nothing beats personal experience.  Check Our Reviews page for more insight into trusted companies. Check our site for reviews of all kind. It’s great place to become more knowledgeable about the world of finance, and will shed some light on some of the scams out there. Check out the previous post by clicking here.

Bitcoin News: The Future of Bitcoin

Bitcoin News: The Future of Bitcoin

 

A Saxo Bank says that the spending of a Donald Trump presidency could cause the price of Bitcoin to hit $2,000 by next year, as the possibility of the US dollar skyrocketing could force emerging markets to seek alternatives. It projects that the Trump regime’s fiscal spending binge may increase the circa $20 trillion of US national debt and potentially triple the current US budget deficit from approximately $600 bln to $1.2-1.8 trillion or some 6-10 percent of the US’s current $18.6 trillion economy. This may cause inflation to jump through the roof, forcing the federal reserve to accelerate its hikes and the USD dollar to soar, creating a domino effect in emerging markets and forcing people worldwide to look towards alternative forms of currencies and payment systems not tied to central banks.

 

Bitcoin News: The Reality

I just want to clarify a little bit for those who may be unfamiliar with how bitcoin works. It’s not like some things affect bitcoin and others don’t. Everything effects the price of bitcoin. It’s simply supply and demand. Speculations as to such a dramatic increase in Bitcoin due to a Trump Presidency come from the fears of his unpredictability.

So, People will put more stock into things like Bitcoin too keep the value of their money secure. One thing that dramatically effected the price of Bitcoin was Brexit. Realistically though, Every little thing affects Bitcoin. While some speculate the Price of Bitcoin will reach $2000 by next year, I think that it is just unfounded panic. Though, I could be completely wrong. It wouldn’t be the first time.

 

Bitcoin News: Conclusion

in all, while Bitcoin is still an incredible up and coming cryptocurrency, it’s still facing some challenges. Rightfully so, when you really think about it. Nothing like that has ever been introduced to the world. It’s something challenges of everything that we as a civilization have built. Check Our Reviews page for more insight into trusted companies. Check our site for other Financial Planning reviews. Its great place to become more knowledgeable about the world of finance, and will shed some light on some of the scams out there.

Bitcoin News: Russian Coffee Shop Accepts Bitcoin

Bitcoin News: Russian Coffee Shop Now Accepts Bitcoin

In this Edition of Bitcoin News, we are bringing to you a very different stories that is really truly interesting. We could talk about the current price of bitcoin, but we sort of wanted to mix things up a bit.

 

Russian Coffee Shop Accepts Bitcoin

Have you ever dreamt of paying for your morning cup of Joe with the bitcoin in your piggy bank? I know I sure haven’t. Well, if you have, and you are a resident of the greater Moscow area, then you are in luck! One coffee shop in Moscow is one of the first in town to allow customers to use this form of payment for their espresso and croissants. Russian hasn’t yet defined the legal standing of Bitcoin or rules revolving around it within the country. Which is completely understandable. Bitcoin threatens everything that is traditional about the systems the governments of the world put in place.

Many governments from around the world have already decided that, if they outlaw bitcoin or any other cryptocurrency, they risk suppressing creative innovation. Which could result in them falling behind in this new technological race. In the meantime, Russia still battles with even the idea of an electronic currency. I would like to add that this is not a common occurrence in Russia. This particular coffee just so happens to be located in a bitcoin bank.

Timofei Kulikov, co-owner of the coffee shop within Sberbank’s headquarters said he started the bitcoin coffee exchange as an experiment after deciding it was too expensive to mine the bitcoin himself. He said it’s much easier to “sell for bitcoins something that people buy every day.” One bitcoin was worth $606.96 as of Monday (Sept. 26), enough for nearly 400 cups of coffee.

It’s ideas like this that get me excited about the future of bitcoin. I predict at some point you’ll be able to pay for pretty much anything you purchase with Bitcoin or any other electronic currencies out there. In the words of Wayne Szalinski, “The future is now.”

 

Bitcoin News: Conclusion

All in all, while Bitcoin is an incredible up and coming cryptocurrency, it’s still facing some challenges. Rightfully so, when you really think about it. Nothing like that has ever been introduced to the world. It’s something challenges of everything that we as a civilization have built. Check Our Reviews page for more insight into trusted companies. Check our site for other Financial Planning reviews. Its great place to become more knowledgeable about the world of finance, and will shed some light on some of the scams out there.