We’ve already heard a lot about the virtual currency, the Bitcoin, and in many places of the world it is already allowed paying with it, but due to the volatility and instability of said currency, its price has gotten to about 1200 dollars, surpassing significantly the current value of an ounce of gold.
It’s this volatility and instability what has caught investors’ attention, as it’s possible to generate large income thanks to the instability of the currency and its great capacity to grow. Although this must be done carefully, as at any given time the currency could drop drastically and abruptly.
Bitcoin exceeded the price of 1000 dollars and it almost got to 1200 dollars for the first time in about 3 years. It’s gotten to a point where it’s equal to the price of an ounce of gold. This keeps speculators in constant alert, because after its sudden increase, it could drop drastically although until now no one knows how high it’s going to get.
During 2016, the virtual currency grew more than 125%, meaning a significant growth when talking about economics, many people took advantage of this growth to increase their assets.
Due to the drop of the Chinese Yuan, investors took shelter in this virtual currency. More than the 90% of the operations with Bitcoins are carried out in China, this indicates the value that it’s being given to the currency. However, investors recommend investing carefully and remind others of the volatility this coin has and how fast it can collapse.
However, investors recommend investing carefully and remind others of the volatility this coin has and how fast it can collapse. Remember that it’s very important to understand the volatility of the market, especially when it’s an electronic currency.
It should be taken into consideration that the market with Bitcoins is a growing market that we are beginning to see in different parts of the world, so, further study on the subject is recommended to find out how to invest properly.
Here’s some interesting and useful info about Bitcoin:
– Bitcoin is an electronic cryptocurrency
– It offers a decentralized way to store, transfer and acquire money
– Bitcoin is currently the most popular electronic currency
– Bitcoin or as it is known in terms of the market, BTC, is already being used by some Forex companies, it is considered that this will increase even more in the coming years
– It offers a very simple and convenient way for traders to deposit / withdraw
– One of the advantages of this cryptocurrency is that it can be used as a counterpart in a pair of currencies, i.e., Bitcoin vs. Dollar or Bitcoin vs. Euro