Bitcoin continues to be more volatile than gold as prices go through dramatic high and low swings. Two of the most dynamic periods for Bitcoin were in 2017 and 2019. During the year of 2017, bitcoin reached astonishing prices approaching 20 thousand dollars for a single bitcoin, driven by a short surge in demand in Asia. In 2019, it again reached a high peak of near 12 thousand dollars per bitcoin because of bullish investors.
Bitcoin prices can change dramatically compared to gold because bitcoins are much easier to buy than gold, do not have a weight or transport cost, and are backed by nothing other than investor confidence. For an asset so valuable yet volatile, it pays to have access to the latest bitcoin news. There are plenty of tidbits from news companies and investing gurus, but it would be even better to have a website dedicated to bitcoin and specializing in finding the best data.
Investing in Bitcoin is incredibly risky. The price could be cut down to a fraction of a peak value in a few months. There are many factors that affect prices, and it pays to know the most important developments in order to grasp the most likely trends. Investing in Bitcoin is always a challenge because the decline is not obvious until the chart is already heading towards the valley. Those prepared to brave the risk need the best information.
Factors affecting volatility include the fact that Bitcoin pays no dividends. The supply increases with mining, but Bitcoin is reaching its preprogrammed limit, meaning that fewer new coins are being created. This tightens supply and reduces the incentive to set up data processing equipment. This anticipation might have contributed to a short-lived boom, but then a bust followed. It is details like these that a maverick investor needs to know.
There are more than a few websites that are devoted to Bitcoin. Make sure to choose a credible source of information that puts the needs of the investor first. One reason to be careful is that many providers of free information is trying to influence the market or to sell products with a selfish profit motive. A source that puts your interests first will provide fresh information without any spin.
The most credible and highly-rated source of latest bitcoin news is worth a subscription. As risky as bitcoin investing might be, having access to all the data possible is essential. There are huge profits and huge losses to be made. Make sure that you only get caught on the upswing.