Bitcoin price fluctuations are a real deal and not as simply to understand as the standard paper currencies. People around the globe, trading in Bitcoin, refer to thousands of statistics and analysis to predict Bitcoin prices.
What is Bitcoin and Wrapped Bitcoin?
Bitcoin is a virtual or digital currency. It is simply known as the online version of cash. It was on 3rd January, 2009 that the Bitcoin network came into existence. It has been gaining popularity ever since. This is so, especially in the years 2020 and 2021, when competitors like Dogecoin and Ethereum started coming up as well.
Wrapped Bitcoin (WBTC) is aiming to tokenize Bitcoin (BTC). This ‘token’, named ERC-20, will eventually ease Bitcoin transactions and increase the security of owning it. The concept of Wrapped Bitcoin was taken into action from January 31st, 2019.
How Much is 0.3 Bitcoin?
So, to simply answer the question, 0.3 Bitcoin is worth $12140.46 on June 15, 2021, at 6:30 am UTC. At this exact time on the 15th of May, 2021, one Bitcoin was worth $49504.67 and that makes 0.3 Bitcoin worth $14,851.401. If we go a little backward, on the 15th of January, 2021, one Bitcoin was worth $38435 which makes 0.3 Bitcoins worth $11,530.5. You can refer to the live prices of Bitcoin here.
Hop on to this website to get a chart-based analysis of the fluctuation of rates of Bitcoin in the past few years. This chart includes all crypto currencies in the crypto world. It also gives you real-time updates and highly advanced techniques to study the graph.
Are You a Bitcoin Trader or an Investor?
There are two kinds of people who would ask such a question. You are either an investor or a day trader. The main difference between traders and investors is the relationship each one has with time. Time is money, Isn’t it? Traders take this phrase way too seriously and keep track of rates of Bitcoin every second to sell the desired amount of coins in order to make maximum profit.
On the other hand, investors let the time do the work for them. They buy a few Bitcoins and store them for months, sometimes even for years. They believe that in the long run, everything becomes expensive and when it actually does, they sell it.
How is the Price of One Bitcoin Determined?
The rate of Bitcoin is influenced by celebrity investors and billion-dollar companies. It is also influenced by the supply and demand calculated in seconds. A simple yes or a no from one of the top tier companies can shake up the whole price range of one Bitcoin.
So, here are some reasons for all the potential investors and traders out there to keep their eyes not only glued to the live charts of Bitcoin but also pay attention to the finance world, in general.
- Influence of billion-dollar companies on Bitcoin pricing:
The CEO of Tesla, Elon Musk, was all in and for Bitcoin. Tesla even invested $1.5 billion into Bitcoin and because of this, the price of one Bitcoin rose to about $50k. BitPay, a Bitcoin payment service provider, had performed $1 billion worth of transactions in the year 2019. LAToken, a Bitcoin exchange platform, promises assets worth $1.2 trillion by 2025. Amazon provides you, buying items using Bitcoin, a discount of around 10% to 15%, if you log in via Facebook or Google Plus account.
- Influence of financial gurus and celebrity investors on Bitcoin:
Billionaire investor, Paul Tudor Jones, has 2% of his assets in Bitcoin. CEO of J.P. Morgan, Jamie Dimon, advises people to stay away from Bitcoin and calls it all a ‘fraud’. Max Keiser, investor and host of the Keiser Report, predicts that one Bitcoin may be worth $100k in one to two years and probably reach $400k in 2025-26. Robert Kiyosaki, the best-selling author of the book ‘Rich Dad and Poor Dad’, predicts Bitcoin to be worth $75k in the next two years.
- Social media, specifically, the meme world:
A good example of the influence of memes on cryptocurrency is the invention of the Dogecoin. This meme-inspired cryptocurrency hit an all time high market value of $87 billion after gaining support from Elon Musk.
- Demand and supply:
There are 21 million Bitcoins produced yet, and around 25 million users around the globe. The numbers are increasing every second and so is the fluctuation in the price of one Bitcoin. Bitcoin is not sold by an organization and neither is there any government interference in this crypto world. Currently, out of the 21 million coins, around 18 million have already entered the market. There are thousands of investors and traders who talk about their journey in the cryptocurrency world and inspired by them, there is an increase in the demand for Bitcoin. When the demand increases, the price of one Bitcoin increases. This mechanism helps the supply to balance out the demand.
- The mining of Bitcoins:
Mining of Bitcoins is a process wherein highly powerful supercomputers solve complex mathematical problems and puzzles. In reward, they obtain Bitcoins. The making of Bitcoin requires expensive and important raw materials. The price change in the raw materials affects the rates of Bitcoin too. You can also check out bitcoin lifestyle website and explore more about it.
With this article, we hope you now have a better understanding of how Bitcoin prices fluctuate. You must keep an eye out for the live charts that provide you with real-time prices of Bitcoin before you perform any kind of transaction. Do your research and find yourself a good platform to exchange and trade your Bitcoins. All the best!