![]() People, who previously hadn’t heard of the crypto, started asking how to buy Bitcoin. General crypto trends: In late 2017, cryptocurrencies were heavily debated in the media. While it is less affected by happenings in mainstream markets, it can be affected by a variety of factors relating to the crypto space, the blockchain industry and by regulatory issues. Moreover, Bitcoin is considered the bellwether of the cryptocurrency space, so it can often generate industry-wide trends.īitcoin is a highly volatile instrument that has experienced tremendous price movements over the years, sometimes gaining hundreds of percentage points or crashing significantly over a relatively short period of time. On the other hand, when the Bitcoin value is on the decline, it can prompt existing investors to sell their Bitcoin and push prices down. Sometimes, when the Bitcoin price is on the rise, more people are inclined to buy Bitcoin, fueling its positive run further. The Bitcoin chart often displays extreme volatility, having short-term price spikes and tumbles. While initially BTC value was extremely low, priced at fractions of cents, it picked up steam over the years, reaching price levels in the thousands of dollars for a single Bitcoin token and a market cap in the hundreds of billions. It also operates free of a governing body, such as a central bank, and all changes in the network require consensus from its members. Bitcoin (BTC) is a decentralised network which uses a public ledger to approve transactions, eliminating the need for third party approval (such as a bank). It is also the first wide-scale, real-world application of blockchain technology. Investing in Bitcoin: What to consider before you buy Bitcoinīitcoin is the first cryptocurrency in the world, launched in 2009. ![]()
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