The growth of the cryptocurrency market has attracted the attention of various types of investors. Nowadays, it is possible to say that digital currencies are no longer just a bet and have become an asset class belonging to the portfolio of many people who consider them an interesting investment. According to a survey conducted by the BitcoinBlock editorial staff, the price of Bitcoin causes a significant number of searches on Google.
“According to information from the Semrush platform, every month the term ‘Bitcoin today’ is the reason for 1.8 million searches“, says Alcindo Batista, press officer of BitcoinBlock.
Alcindo also brings up some topics about user behavior interested in quotes, according to daily analysis.
How to track the price of Bitcoin?
Thinking about cryptocurrencies, people tend to look for the latest coin released and those with more interesting expectations. Meanwhile, savvy investors seek a variety of platforms, apps and services of digital currency to maximize your investment potential.
price trackers
With the various forms of negotiation, there is no single price for each asset and the difference can be large when trading on different platforms. Therefore, a good way to follow the price of cryptocurrencies is digital currency price trackers.
“Some services help investors find the best price to buy and sell digital assets in different brokerage firms, allowing a operation called arbitration. In this type of strategy, the same asset is bought in one place at a lower price and sold in another at a higher price.Alcindo continues.
In addition, Alcindo also comments on the platforms that allow access to the price of most digital assets in real time and the volume of the main brokerage houses in the world, where it is also possible to consult the biggest ups and downs of the currency market, trends in time and the trading volume of each of the digital currencies.
Straight through the corridors
For those who are not yet familiar with the world of investments and cryptocurrencies, following the price through trackers can make trading difficult. This is because most buy and sell transactions take place within the exchange itself.
“For this reason, a more assertive way of knowing the purchase and sale value of digital assets is to consult the brokerage houses where there are operations.“, highlights Alcindo.
What do you want to know?
The adviser comments that people who investigate about the value of Bitcoin, they usually want information that will help them decide whether to join or not to cryptocurrencies. Data such as whether the crypto asset is valued, its initial value, its volatility, performance, how to buy, performance in recent years, and how the currency works are among the surveys. But also there are those who want to understand what it means to mine Bitcoin:
“Knowing if it is safe to invest in the asset and if the moment is opportune are also among the biggest doubts of those who already invest, or of those who still do not fully know the market and are interested in investing. In the latter case, it is the potential investors who want to know everything before starting the investments.“.
What does the user need to know when performing this search?
According to Alcindo, when carrying out investigations aimed at investments, people should take into account that the contribution is variable. Thus, when researching Bitcoin on the web, it is important that the user knows the value of the currency at that time, its price variation in recent months and the market situation, to know if it is worth investing and understand. the best time to invest.
Market situation
This is one of the main thermometers for those who want to invest in Bitcoin. Based on this indicator, the user is able to have a greater parameter of the evolution of the asset in recent years, currently and future expectations.
Thus, with this information, it is possible to make more assertive investment decisions.
currency volatility
Volatility is a key aspect of cryptocurrencies. That’s why, following the price in real time is essential to avoid losing money and to be prepared for fast movements.
Trades can take place between buyers and sellers, but it is much more common for them to take place on cryptocurrency exchanges. These brokerage houses charge commissions for each operation executed and most of them are located outside the country.
The difference with the stock market is that you can buy and sell in different ways at any time, there is no specific time for operations. That is to say, While the stock market has opening hours, the crypto exchanges operate 24 hours a day, seven days a week.
The future of bitcoin
2022 was marked as a challenging year for the cryptocurrency market, which includes Bitcoin. However, there are positive projections for the asset in 2023.
Among the appreciation expectations, that of the North American investor Tim Draper stands out, who believes in the potential of the currency to reach the value of USD 250,000 this year, being the largest increase in history since its launch. Alcindo comments that he also Bitcoin is expected to go through some correction periods in the coming months. If these predictions come true, buying opportunities will become more attractive to investors..
“However, the future of the currency does not depend only on the recovery of the sector, but also on the changes in the monetary policies of the main world economies. A more positive scenario is expected for the digital asset in 2023 compared to last yearAlcindo concludes.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.