NextAdvisor’s price tracker provides cryptocurrency traders with up-to-date information about the current state of the cryptocurrency markets. With NextAdvisor’s price tracking tool, you’ll know what prices are like across different exchanges, how many coins are traded, and whether it makes sense to buy or sell. You can even use the price tracker to see where cryptocurrencies rank relative to one another.
You can access the price tracker directly from our homepage. Once inside, select “Crypto Prices.” From here, you can choose from three price charts:
1. Historical – Shows the history of each coin’s price over the course of several months.
2. Live – Displays real-time price changes for each coin.
3. Market Cap – A snapshot of the total value of all coins listed on the exchange.
The price chart displays the following information for each coin:
Price – Current price of the coin.
Crypto Indicators and Metrics for Beginner Investors
Price: As with any investment strategy, price is where it begins and ends for investors. Pricing is highly volatile in cryptocurrencies, but viewing over time can help you understand how much a particular currency has increased or decreased in value.
Market capitalization: In general, higher market capitalizations mean a cryptocurrency is considered safe. A lower market capitalization usually indicates a riskier investment.
Volume: Higher volumes generally indicate greater trading activity, making it easier for investors to buy or sell investments.
The amount of coins circulating can be seen as an indication of the demand for a specific coin. If there are fewer coins in circulation, it could suggest that people aren’t buying into the project.
What’s Driving Bitcoin’s Price?
Bitcoin’s price has been dropping steadily over the last couple of months, dipping below $16,000 earlier this month. But despite the recent dip, the cryptocurrency still holds a value of around $19,000, according to CoinMarketCap.com.
The token’s price has occasionally dropped to $18,000, marking lows not seen from the start of 2018. In fact, bitcoin’s price has fallen almost every day since May, except for one day in early June when it rose to $20,000.
While bitcoin’s price hasn’t been particularly volatile recently, there are some reasons why the coin has been struggling. For starters, the U.S. dollar has been appreciating against most major currencies, including the euro, pound sterling, Japanese yen, and South Korean won. This trend has led to a decline in the price of many digital coins, such as ethereum, ripple, and litecoin.
In addition, the Fed’s decision to raise interest rates once again has weighed heavily on the broader markets. Investors tend to sell off risky investments like stocks and commodities when central banks tighten credit conditions. As a result, the Dow Jones Industrial Average fell nearly 2% on Wednesday, while oil prices plunged 3%.
Finally, bitcoin’s volatility has increased in recent months due to several high profile hacks. These include the theft of millions of dollars worth of ether tokens from Coincheck, a Tokyo-based exchange, in January. More recently, hackers stole about $530 million worth of NEM tokens from Japan-based blockchain firm Zeepin.
These types of attacks have caused investors to question whether the decentralized nature of bitcoin could lead to another financial collapse like what happened in 2008.
Bitcoin Predictions and the Future of Crypto
The price of bitcoin has been steadily rising since 2013, when one bitcoin cost less than $1,000. In 2017, the price climbed above $20,000 and continued climbing throughout 2018. But what does the future hold?
Some experts predict that the price of bitcoin will continue to climb. JP Morgan Chase & Co CEO Jamie Dimon told CNBC he sees a “long-term high” of $200,000 per coin. He added that he believes there is a chance that bitcoin could even become the world’s single currency.
Other industry insiders see much lower numbers. Brian Kelly, founder of investment firm BKCM LLC and host of CNBC’s “Fast Money,” predicts that the price of bitcoin could fall to around $6,500 in the next 12 months.
Deutsche Bank AG predicted earlier this month that the price of bitcoin would remain stable at around $10,000 until 2021, when it would begin to decline.
And some people think bitcoin won’t ever really take off. Mike Novogratz, former Goldman Sachs partner and head of Galaxy Digital Holdings Ltd., says that the price of bitcoin is likely to fluctuate wildly, but that it will never surpass $100,000.
What Bitcoin Investors Should Know
If you’re thinking about getting into cryptocurrency, there are a few things you should know. First off, remember that cryptocurrencies aren’t regulated by any government agency. They’re decentralized, meaning no one person or group controls them — including governments. This makes them attractive investments for people looking for ways to protect themselves against inflation, economic instability, and political upheaval.
But while cryptocurrency isn’t backed by any central bank or government, that doesn’t mean you won’t find plenty of skeptics out there. Some say it’s too risky, some think it’s a scam, and others wonder why anyone would want to pay someone else money without having something tangible in return.
So how do you decide whether to buy bitcoin? And once you do decide to dive in, how much do you actually risk losing? We asked three financial advisers to help us break down the pros and cons of investing in bitcoin.
How to Protect Your Bitcoin Investments
Bitcoin is often considered a risky investment due to its volatility. But there are ways to protect yourself against losses. Here are three things you can do now to make sure your cryptocurrency investments don’t lose value:
1. Keep track of your holdings. You’ll want to keep tabs on your balance across exchanges, wallets, and online accounts where you store your digital currency. This way, you can quickly identify whether you’re missing out on any gains or suffering from significant drops.
2. Use a hardware wallet. Hardware wallets are devices that help secure your coins offline. They provide better security and protection than software wallets, like those offered by Coinbase.com.
3. Consider diversifying. Diversification helps reduce risk because it spreads your bets around. For example, owning both BTC and ETH could reduce risk if one coin takes off while the other doesn’t.