Latest Bitcoin Price for Today August 2, 2016

If you are an investor or early adopter of the Bitcoin digital currency then an important metric that you will want to monitor is the Bitcoin exchange rate as it relates to US dollars as denominated by the symbol BTC. It is realistic to say that Bitcoins are still in their early adopter phase of technology even though an increasing number of stores and ATMs accept the digital currency, and anyone who has some of their money denominated in Bitcoins should monitor the exchange rate on a regular basis to see what their investment constitutes in a dollar equivalent.

Bitcoin Price – Today (Latest)

Today’s Open

$607.37

Today’s High

$613.96

Today’s Low

$560.71 Update New Low $465.28

Bitcoin BTCUSD August 2, 2016

Bitcoins (like paper currency) will always go through trends of volatility. Unlike paper currency however, bitcoins have two advantages:

Only a limited amount of BitCoins will ever be on the World BitCoin Exchange (BlockChain). This safety net ensures that BitCoin traders will never run into a case of “runaway inflation”. Multiple countries around the world are currently suffering from financial mismanagement of their paper currencies and citizens are turning to alternative currencies – like BitCoins.

BitCoin Price – Trading The Bitcoin Exchange Rate

There are some advanced traders and investors who are participating in the Bitcoin digital marketplace that are not buying the digital currency to buy and hold it over a long period of time, but instead are trading the Bitcoin exchange rate up and down the same way that you would trade the price of a major currency pair. It is also important to understand the differences between denominating your money in Bitcoins and denominating it in a regular first world currency such as the dollar, pound, or euro.

There is a lot of safety and financial stability in the major world currencies that exists and will persist, yet there are a number of revolutionary benefits associated with Bitcoin that are seen as very promising even though it is still a bit risky. One of the major differences is that all Bitcoins exist in digital form as a piece of software code instead of being a physical asset that you can touch with your hands like cash or gold. This means that all of your Bitcoin holdings are contained in your digital wallet which is a software program that can run on your desktop computer, laptop, or mobile phone.

Related : Best Forex Brokers Offers Online Bitcoin Trades

The Price Volatility Associated With Bitcoins

One of the characteristics about investing or trading in Bitcoins that many individuals see as a risky disadvantage is that the price of Bitcoins is extremely volatile and it has been known to move over $100 in just several days. This is not a positive feature if you are someone who is trying to passively invest in Bitcoins by buying and holding them in order to try and see your asset value increase over time. While Bitcoin is still in its experimental phases there are more and more people using the new digital currency every day, and by learning about how the Bitcoin exchange rate performs you can decide if you are ready to jump on the Bitcoin bandwagon.

BitCoin Price – Stable Investing and Beyond

Venture Capitalists are adding more investment capital into the BitCoin infrastructure and BitCoins are now recognized as a true and viable alternative currency in many countries around the world. More and more online companies are accepting BitCoins as a form of payment.

The worldwide acceptance of BitCoins is very important to the stability of BitCoin price. If you have not invested in BitCoins as yet, then there is no better time than now to do so. The BitCoin currency has indeed proven to be a viable alternative medium of exchange.

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