Dec 12, · When most analysts think of bitcoin, they think of tulips. The cryptocurrency's run-up in recent months, in which it's rocketed from around $2, Author: Jeff Spross. Jan 15, · Bitcoin drops $2, in value as South Korea announces planned trading ban Read more Finally, nothing becomes a good investment just because “it’s been going up in price lately”. Back in January, a Bitcoin was trading at around $3,, and by early July, the price was nudging $13, Despite all the talk of Bitcoin’s growing domination over Altcoins, it is worth noting that over the same period, Ethereum went from $ to more than $ and Litecoin from $30 to $
Fools rush in to trade bitcoinWhy bitcoin is fool's gold
The mechanics of doing so are simple enough. The eToro app also provides a social news feed that keeps community members apprised of what is happening, both in the trading world and within their unique social trading community among the members. For years, the biggest barrier to cryptocurrency trading for new investors has been that fear of the unknown and the risk of making a bad decision through inexperience or lack of information.
Apps like eToro are leading the way in breaking down these barriers. They do so by providing up to the minute information on the news feed, charts and graphs that are simple to interpret, and most important of all, the ability to watch, learn from and follow the trading activities of those who have learned it all the hard way. As Bitcoin in particular and cryptocurrency in general continues to rally, this innovative technology is opening up a world of possibilities.
Suddenly, even the most conservative, risk-averse or inexperienced trader can confidently add crypto to his or her portfolio with as good a chance as anyone else of reaping the financial rewards. Disclaimer: The information presented here does not constitute investment advice or an offer to invest. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits.
Could you be next big winner? I consent to my submitted data being collected and stored. The cryptocurrency market is growing aggressively, faster than investors can keep up. Terms like ICOs initial coin offerings that were commonplace just two years ago have now been What is Earn Finance? Earn Finance is a blockchain agnostic decentralized finance aggregator platform that supports DeFi projects deployed on Ethereum, Binance smart chain, etc.
For updates and exclusive offers enter your email below. Bitcoinist 7 days ago. It would be easy to forget amid today's speculative frenzy but bitcoin was originally supposed to be a currency for people who didn't want a payment system administered by a central bank or overseen by a government. Calling bitcoin "gold 2. For all the weirdness that goes into enthusiasm for gold, it's still managed to survive as a store of value.
And that's because gold actually has practical uses in the real world. Obviously, there are artistic purposes like jewelry and building accents and filigree.
But gold actually also has other wide-ranging applications, particularly in things like electronics and computing. This is key. An asset can't serve as a store of value if you can never get the value back out. Sure, there can be a brief bubble, where everyone buys the thing in the hopes of selling it later for a big payday. The bubble could even last long enough for people to build additional financial instruments, like futures, on top of all that buying and selling.
But for the market to stabilize and sustain itself over time, like gold sort of has, the chain of purchases has to actually end at some point in real-world applications. That's what allows everyone else in the market to treat the asset as a store of value: They know whatever money they invest can eventually be retrieved. So what makes bitcoin innately valuable? Even its autonomy and the ease of its digital transactions are replicable and found not only in other cryptocurrencies, but in many normal online payment systems as well.
Winklevoss' defense of bitcoin has nothing to do with this: "Gold is scarce, bitcoin is actually fixed. Bitcoin is way more portable and way more divisible," he said, before descending into outright tech-jargon gobbledygook: "Social networks grow in value exponentially based on the number of users and participants. The difference between one and is dramatic — and a million is that much more dramatic and exciting. As more people join it gains more value.
None of this escapes the charge that bitcoin is just a particularly bad case of irrational exuberance. In fact, it turns out about 40 percent of all bitcoins are held by around 1, people. And they're clearly holding them purely in anticipation of a big payday. This is a relatively small subculture of enthusiasts who talk amongst themselves, are probably all looking at the same information, and thinking about that information in the same way.
So when they sell, they'll probably all sell in rapid succession.