Bitcoin, what a ride
Invented in 2008 by a person or group with the alias Satoshi Nakamoto (who still remains unknown), Bitcoin began rising slowly but steady to a point in 2017 where it almost reached $20,000. By then everyone heard about and wanted a piece of it, hoping for a fast sky-rocketing profit. Similar to the good old’age gold rush, there were stories of all kinds, from rags to riches and reverse. But its decline started soon and by 2019 it fell to less than $3,000 and lots predicted its upcoming doom.
The Covid pandemic brought a new hope for Bitcoins. The uncertainty of the future and doubt on standard investments (i.e. stocks) pushed it to another peak. Elon Musk sure helped recently as well, mentioning that Tesla’s profit from Bitcoin was higher than its profit from selling electric cars. And with a new boost, Bitcoin is now closing in fast on $60,000, a value that for many seemed impossible a few years back. Where will it stop though? No one knows, it could rise up to $1,000,000 or fall back to $1,000 – one thing is certain though, Bitcoin is here to stay for the long run. It’s currently a $1 trillion market and that raises lots of interest from investors that won’t let it fall into its demise.
That being said, Bitcoin still seems to be a good opportunity for a risky investment. Even at its current price. The trick is not to invest a lot at once, but invest small and use the profits to reinvest – or you could also short its price if you believe it will go down. While no one knows what the future holds for bitcoins, there is a must though for anyone that wants to invest: being informed.
Staying informed on what happens with Bitcoin is the key to noticing a trend, or making a better prediction on what might happen. There are several sources for Bitcoin news, but a new one that I stumbled upon is The Bitcoin Street Journal.
The Bitcoin Street Journal is an Android app ideal for tracking everything Bitcoin. From live prices and exchange rates, to news and articles on Bitcoin, the app offers a great overview to anyone interested in cryptocurrency in general or Bitcoin in particular. While Bitcoin is obviously the star, The Bitcoin Street Journal actually offers an overview on all cryptocurrency markets.
Main features of The Bitcoin Street Journal
News & articles. You can stay up to date with the latest news about cryptocurrency (and obviously Bitcoin) as the app is updated daily with relevant information. The app acts as a cryptocurrency news aggregator that pulls the most relevant articles from other trusted publications such as: CoinDesk, NewsWire, Bitcoin Magazine, Decrypt, CryptoPotato, Crypto Coin News, Bitcoin, Bitcoinist, Coin Telegraph, Yahoo, Reuters, AP and more.
It also publishes its own articles and technical analysis for Bitcoin and other popular cryptos, or other relevant information such as which hardware is best for mining various cryptocurrencies.
Portfolio monitor. The Bitcoin Street Journal provides detailed pages for each listed cryptocurrency. This allows you to build a portfolio of the crypto assets you own and monitor those in real-time. You can easily track your daily profit or loss, chart trends for your crypto investments and analyze various crypto performances on detailed graphs.
For each detailed page of the selected popular crypto you have the option to tap on a Watch option and add that particular asset to your watch list. You can also identify trends and trading opportunities by comparing side-by-side cryptocurrencies using the built-in decentralized exchange data (DEX).
Alerts and notifications. Price variation is obviously the most important element you should track when investing in cryptos. With this app you can get instant notifications when the price for a certain crypto crosses a certain threshold set by you. This means you can define customized price alert filters for your selected criterion and keep track of significant price changes. You can also see the top gainers and losers, as well as other curated tops.
Cryptocurrency converter. Want to see exactly how many Ethereum are your Bitcoins worth? Or vice-versa? You can easily find out as it includes a cryptocurrency converter that allows you to convert more than 2600 altcoins to global fiat currency or against other cryptocurrencies. The exchange rate data is delivered in real-time so this way you get an accurate conversion.
Top exchanges and cryptos. With The Bitcoin Street Journal app you can see live data for the most popular exchanges as well as thousands more in a searchable database:
ANX, BTC Indonesia, BTCC, BTCTurk, BitBay, BitStamp, Bitfinex, Bithumb, Bittrex, CHBTC, FoxBit, GDAX, Huobi, Kraken, MercadoBitcoin, OKCoin, Poloniex, itBit, xBTCe, Yunbi, Coinone, Binance, HitBTC, Exmo.
For each exchange you can get basic information such as trading volume for the past 24h, the country the exchange is established in and year, as well as its official website.
For the crypto part, it also provides live data for more than 2600 altcoins. You get a quick overview of the most popular cryptos [i.e. Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Tether (USDT), NEO, Qtum, Litecoin (LTC), Cardano (ADA), Ripple (XRP), Zcash (ZEC), DASH, OmiseGO (OMG), Monero (XMR)] but also get access to a searchable database of all cryptocurrencies it supports. See individual cryptocurrency market capitalization, market dominance, trading volume as well as other comprehensive data analysis and trading views.
Charts. For each altcoin you get a real-time professional-grade chart that allows you to easily track realtime and historical price data across the chart’s modifiable timeline. You can effortlessly customize the appearance of the chart by varying the time scale, focusing in on different sections and adding new technical studies or market indicators.
Conclusion
Investing in cryptocurrency is not for everyone, and it definitely comes with a high risk as it is a volatile market. However, with the proper news and technical analysis source, you can reduce risks and learn how to invest wisely. There’s no one that can accurately predict what could happen in the crypto world, but being informed and having a keen eye for what could turn the market in one way or another might make the difference.
You can read more about The Bitcoin Street Journal app and download it for free from Google Play: The Bitcoin Street Journal app
