When it comes to popular sports, regular ones like soccer, basketball, football, marbles, etc. have clearly taken a backseat and things have changed completely as we are into the 21st century, which means a new millennium with new beginnings.
Which brings us to today’s topic and that is bitcoin. Almost every person in this world is heard and aware about it because of its historic significance in shaping the lives of many people, both for the better and worst, depending on the circumstances of the situation.
There are many things that can be discussed about bitcoins and so much so that one or two articles will not be able to do justice to it as it is too vast to cover up and time is available in finite measure.
Where It Began
To understand bitcoin in its entirety, we need to go back to where it originated from and that was way back in 2009, when the world was reeling under a world recession and the economy of many countries was in shambles.
The situation was so worse that people started dreading that the great depression of the 1930s was just round the corner. Jobs were few and far between, young college graduates were hard pressed to find a job but many of them gave up hope and committed suicide.
In such a scenario, bitcoin was launched with much furor and quickly captivated the imagination of everyone all over the world. The makers were apprehensive on whether it will be successful or not but once the responses started pouring in large numbers, they were reassured and heaved a sigh of relief.
Cryptocurrencies were seen, and still are in many places, as nothing but a fraud ideology that relates to gambling which desires to siphon of money in the form of a faux investment scheme but gradually people started relying upon it when they saw the results with their own eyes.
Cryptocurrency is hoping to replace the official currency of all the countries in the coming decade, a feeling multiplied with the stupendous success of bitcoins. Being decentralized in nature, it becomes difficult to believe this fact and only time will tell how successful it turns out to be.
The bitcoin industry, being new to the market, is surprisingly predictable in its take and its sky rocketing popularity at that time, held a prolific future for it, but that was then.
Within a few years, the market came crashing down and there came a time in 2013-14, when bitcoins were prized a meager $4420, an abysmal fall compared to its rise in 2010.
The revolution did slowdown in the initial stages before showing a rise later around 2015-16, when it saw an upsurge in its fortunes and people started to rely upon it again.
2017 was the worst year for bitcoins and its users when it crashed with a thud by registering a negative -$20000 high, before jumping back to $5000 as the year progressed. So it can be seen the fluctuating fortunes of bitcoin and the other crypto currencies in general.
We are going to discuss about 5 important points on how to trade in bitcoins which are as follows:
- Use tools for risk management as trading may prove beneficial, people overlook its negative aspects in the beginning. Some of them are price alerts and trailing
- Never assume about uptrend as they are very unpredictable and bitcoin news is anyway for the experts
- Long term bitcoin is less successful than short term
- Keep an eye out for new trends
- Stay alert and informative about annual reports and account statements