Post
Topic
Board Beginners & Help
Re: Unstable prices of cryptocurrency
by
SOKO-DEKE
on 24/12/2023, 11:59:42 UTC

As a beginner, I bought Bitcoins few days ago when the price was $43,943 with the hope that since the price has been increasing rapidly, that it will continue to increase but now that the price is dipping I now found out that the Bitcoins in my wallet is also going down.

The Bitcoin price is not stable; it is always fluctuating, and that is the reason why the price keeps changing, which is caused by demand, so the more people buying it, the higher the price will keep increasing, and if possible, they are not demanding but selling, that is how the Bitcoin price will be going down, and that was the reason why before you bought your Bitcoin it, the price was increasing. The unstable price of Bitcoin is what makes it an investment; if the price is stable, it wouldn't be called an investment, and people like demanding it that much.

Op I believe you should have know all these little things about Bitcoin before you invest in it or cryptocurrency. It is never a good idea to just invest in something that you don't have good knowledge all about because, in the process, you can easily get confused and likely follow the wrong direction, and with that you lose all your capital. Any investment is sweet if someone is knowledgeable about it.