The Truth About Volatility of Bitcoin and It’s Price Predictions for 2019
Bitcoin, being the most popular and highly volatile cryptocurrency, has always managed to create a buzz among mining enthusiasts. Fortunately, this year is no different. While the current rates of Bitcoin aren’t that impressive, they are predicted to reach as high as $50,000 this year.
That’s right, some miners are predicting Bitcoin price to break all previous records and hike up to fifty grands. However, considering the current price, i.e. $3,993.53, of Bitcoin, this prediction seems hard to believe, even if you mine using the best hardware like Bitmain Antminer s9 Hydro. Regardless of its volatility, expecting Bitcoin’s price to hit $50,000 benchmark is quite hard to digest for many miners.
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The truth is Bitcoin is extremely volatile, and even 70-80% of fluctuations in the price are quite normal. It means that a hike up to $50,000 is possible as well. If you take a look at the history of Bitcoin, the prices have fallen and risen by 30-50% overnight.
For instance, the 2017 “Summer Selloff” fall where the price dropped by 36%, which is considered as the biggest fall in the history of Bitcoin. However, in the same year, Bitcoin ended up hitting the benchmark of $20,000 too. Considering these fluctuations, it is hard to predict the future of Bitcoin.
Is It Worth Investing in Bitcoin?
So, the real question is should you consider investing in Bitcoin mining in 2019 or not? Let’s take a look at some of the factors which will help you determine whether Bitcoin mining is your cup of tea or not.
To believe experts, the risk of investing in Bitcoin is worth the outcome. Jeet Singh, one of the cryptocurrency portfolio manager, stated that the current Bitcoin fluctuations are quite normal. Like we mentioned earlier, even fluctuations of 70-80% won’t affect your investment at all.
He further added that, people who are here for the long-run are likely to benefit way more than others. These fluctuations will eventually hike up the Bitcoin price up to fifty thousand dollars in the first quarter of 2019.
Regardless of the fluctuations, if you don’t have the best mining hardware, you will fail to earn profit from bitcoin mining. Bitmain Antminer S9 Hydro is an ideal mining hardware for Bitcoin mining, especially if budget isn’t an issue for you.
It comes with an expensive price tag of $900, including the power supply unit (PSU). It produces a hash rate of 18TH/s, which is quite impressive, considering its price.
To grab best deals on highly efficient Bitcoin mining hardware, visit Coinminer, an online platform where you can find the best mining hardware for Bitcoin and other cryptocurrencies as well.
When it comes to earning profit through cryptocurrency mining, the hardware has a vital significant. So, make sure to buy the best hardware with an impressive hash rate.
Are There any Bitcoin Alternatives?
If you aren’t still convinced with the potential of investing in Bitcoin, we have several other options for you as well. These alternative cryptocurrencies like Litecoin, Equihash, ZCash, Ethereum, aren’t that volatile and generate the same profit rate as well.
However, to mine these altcoins, you need to buy dedicated mining hardware at Coin miner. The online store sells a wide range of altcoin mining hardware like Bitmain Antminer Z9 Mini, Bitmain Antminer E3, Innosilicon A10 EthMaster, etc.
Bitcoin, including other cryptocurrency mining, has pros and cons of its own. As far as the future predictions for the price goes, one can never predict an exact figure. Though the cryptocurrency is highly volatile, if you have the right mining hardware, you are likely to gain profit through mining.
At Coinminer, you can find a wide range of mining hardware at decent prices including dedicated PSUs. So, whether you’re investing in Bitcoin or any other cryptocurrency, make sure that you are mining using the top-notch mining hardware.
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