Bitcoin Price Tracker

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How to Use This Price Tracker

Cryptocurrency pricing data can help investors find opportunities in the market and make more informed investment decisions. NextAdvisor’s price tracker shows historical price, trading volume, market capitalization, and other important metrics for investors, especially those who are just starting to dip their toes into crypto investing.

While everyday investors probably don’t need every last bell and whistle to make informed investment decisions, there are some generally applicable key crypto metrics and indicators worth considering:

Crypto Indicators and Metrics for Beginner Investors

Price: As with any investment, price is where it starts and ends for investors. Pricing is highly volatile in cryptocurrency, but viewed over time can give investors an idea of how a given coin’s value has gone up (or down) over time.

Market Capitalization: In general, the higher the value of the market cap the safer the investment. Market cap is the total value of a cryptocurrency, and is calculated by multiplying the price of the cryptocurrency with the number of coins in circulation. The amount of tokens or coins circulating can be viewed as an indicator of a coin’s demand.

Volume: Higher volume typically means a given cryptocurrency has more market liquidity, meaning more ability for investors to sell an investment when they want to realize a profit. It represents how much crypto is bought and sold over a period of time, typically 24 hours.

If there’s one cryptocurrency you should know about, it’s Bitcoin.

It’s the original and most valuable cryptocurrency by far, despite its huge — and normal — swings in recent months, ranging in value from less than $30,000 to more than$60,000. Bitcoin has also seen a surge of new investors, with more than half of all current Bitcoin holders having bought in the past year.

“I invest in Bitcoin for three reasons: One of them is that the supply is limited, the second is decentralization, and third, it is a category king,” says Kiana Danial, author of “Cryptocurrency Investing For Dummies” and an investing expert. “Everybody knows about Bitcoin and immediately gives it this value.”

Bitcoin was created in 2009 by an anonymous figure under the pseudonym Satoshi Nakamoto to function as an electronic peer-to-peer cash system, but has since attracted investors who view it as a store-of-value currency, sometimes described as digital gold. Bitcoin set the stage for blockchain technology and decentralized finance.

“Bitcoin by nature doesn’t really solve a problem,” says Danial. “It was just a showcase for decentralization.”

Based on those principles, the cryptocurrency market — which now consists of thousands of cryptocurrencies — has grown to a valuation of more than $2 trillion. While Bitcoin has the longest record for investors to consider, it’s no less volatile. What’s Driving Bitcoin’s Price? Bitcoin held near$28,000 Thursday as it continues to follow the lead set by equity markets and confidence in crypto wanes. ​

The leading crypto is struggling to fully recover after weeks of losses. Bitcoin’s price crashed below $26,000 in early May amid a broader market selloff of risky assets but has risen slightly since. “Bitcoin is struggling to advance above the$30,000 level and that will be a troubling sign if equities continue to stabilize,” Edward Moya, senior market analyst at foreign-exchange brokerage Oanda, wrote in a market analysis. ​”If selling pressure resumes and the earlier lows made this month around $25,424 are breached, there isn’t much support until the$20,000 level.”

Over the last few months, Bitcoin has remained under pressure as investors wrestle with rising inflation, geopolitical crises, and tighter monetary policy by the Federal Reserve. The crypto market is increasingly tracking the stock market lately, which combined with more mainstream adoption and the slumping prices starting the year, makes it even more intertwined with global economic factors, experts say.

Some experts also say the struggles of TerraUSD (UST), one of the largest stablecoins, played a role in Bitcoin’s recent crash. Stablecoins are intended to bring stability to the crypto markets and should hold as close to the U.S. dollar as possible, but UST sank below 12 cents in early May as investors panicked and sold off their coins. The Terra blockchain has officially halted and UST has remained de-pegged from the U.S. dollar since May 9.

In the short term, all these factors have created some noise and extra volatility in the crypto and stock markets, but this is usual during times of uncertainty. Volatility is standard in the cryptocurrency market, so experts predict the ups and downs to continue.

The last time Bitcoin experienced a brief rally was May 4 when the Federal Reserve announced that it was raising its benchmark interest rate by half a percentage point, but those gains were short-lived. The Fed also signaled that it will continue raising rates aggressively in the coming months and begin reducing asset holdings on its $9 trillion balance sheet in June. Bitcoin’s high point of the year so far remains in the earliest days of January, when it nearly hit$48,000. In that same month, Bitcoin also hit its six-month low as it dipped below $34,000. Bitcoin has lost 40% of its value since its Nov. 10 all-time high above$68,000.

Bitcoin’s price has been between $28,000 and$31,000 this week. Here’s how its current price compares to its daily high point over the past few months:

So what should crypto investors do in light of this volatility? Nothing, according to the experts we’ve talked to. Given crypto’s history of volatility, this increase doesn’t guarantee a long-term reversal. Bitcoin’s price is just as likely to fall back down as it is to continue climbing. The future of cryptocurrency is sure to include plenty more volatility, and experts say that’s something long-term crypto investors will have to continue dealing with.

Bitcoin Predictions and the Future of Crypto

Bitcoin has shown as steady a rise in value over the years as any other cryptocurrency on the market, so it’s only reasonable for Bitcoin investors to be curious about how high it can ultimately go.