The prices of cryptocurrencies have experienced great volatility over the years. This is probably the only market out there where we get to see multi-digit percent changes in the cryptocurrency prices daily.
While this might be seen as a disadvantage, for the traders, this opens up a whole market of opportunities where one can make a lot of money. With over two thousand different cryptocurrencies out there, only the top 50 are considered to be stable cryptocurrencies.
Even then the prices of these cryptocurrencies vary a lot. Apart from being a boon to the whole investment world. Not only are cryptocurrencies a great investment opportunity but they are also a great store of value.
Even though the price of cryptocurrencies is very volatile, every long-term cryptocurrency investor knows the return of investment that one gets to see with cryptocurrencies. A recent study has also shows that holding any popular cryptocurrency for over 3 years would certainly result in huge gains.
Many people who are new to the whole crypto world compare cryptocurrencies with traditional investments and the stock market. However, the crypto industry is entirely different from these traditional investment markets.
One of the most noticeable factors about the prices of cryptocurrency is that it is unpredictable. Unlike the traditional stock market where the prices of the stocks are predictable, the prices of cryptocurrencies are very volatile.
Even the most reputable cryptocurrency like Bitcoin has multiple highs and lows throughout the year. This makes it extremely difficult for any investor to make money regularly. Only after extensive technical analysis can one even come close to predicting the future prices of cryptocurrencies.
However, even then there are countless times where you might end up going wrong. Take for example Bitcoin. Bitcoin, the world’s very first cryptocurrency seemed like a lunatics idea in the beginning. However, everyone started to take it seriously when it first reached a thousand dollars.
However, soon after the cryptocurrency market crash of 2014, everyone believed that the age of cryptocurrencies was over. However, in just 3 years, Bitcoin went on to beat its previous high. Moreover, Bitcoin went on to even defeat the likes of prominent investment options such as gold, etc.
Bitcoin even reached a value of twenty thousand dollars in 2017. This rise in popularity of Bitcoin and other cryptocurrencies made many people believe that the cryptocurrencies would certainly become a mainstream mode of payment around the world.
However, after the crash of 2018, many started to believe that the crypto world would never recover. Just like the past, the crypto world has started to recover again and we will surely see a day when cryptocurrencies would be used more often than traditional fiat currency.
Now that you have entered the crypto world, be ready to experience extreme price changes.
The key to success in the crypto world is to not make uninformed decisions. Never buy or sell your position without doing your research beforehand. The price of the cryptocurrency will change throughout the year. Never fall prey to the fear of missing out and you will certainly be on the right track to crypto success.
In this section of our site, we will give you a constant updates about the prices across various cryptocurrencies. Always stay informed about the crypto prices and be a smart investor.