Volatility: A One Way Ticket on Bitcoin's Roller Coaster

godcoin (58)in #crypto-news • 6 years ago

Bitcoin took another plunge...

Even though this month seemed to look a little more promising for Bitcoin, over the course of the weekend that hopeful rise came to a quick end. The Week Business reported:

Values had risen from a low of $3,400 (£2,600) per coin on 8 February to Friday morning's peak price of $4,190 (£2,005), according to ranking site CoinMarketCap.

But the virtual currency's values plummeted suddenly on Friday afternoon, with about $400 wiped off the price of each bitcoin in the space of an hour, the website reports. As of 9am UK time today, the price sat at about $3,830 (£2,930).

Bitcoinerx pointed out that "Bitcoin took a header, falling more than 5.5% in just twenty minutes. Prices continued to fall for the next two hours to a low of $3793.71."

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It isn't surprising that Bitcoin has volatility concerns, it was noted that what was more alarming was the short amount of time it took for this plunge. "The Bitcoin price plunged from $4,190 to $3,714 within minutes by 11.3 percent against the U.S. dollar." The CCN article continued to state:

While many traders were not taken aback by the sudden drop in the price of the dominant cryptocurrency, some were surprised by the magnitude of it in a short time frame.

Source

Whether people are just remaining hopeful that Bitcoin will eventually be their golden ticket, or they have become desensitized to the fact that its volatility may just come back to haunt them and their lofty investments one day, the truth remains that Bitcoin has been going under many changes and will eventually either fade away or fall for its last time. The reasons this will become a reality is because it is based on an already unstable market. The U.S. dollar has been seeing some alarming crises on the horizon and it is what is still holding up the world that we place our trust in and what continues to allow many to live comfortably, for the time being. Unfortunately, this reality could change in an instant. Seeing Bitcoin's volatility, as well as the looming depression or recession the U.S. dollar will soon be facing, is only a foreshadow and a warning that success will not be granted in the future. Fortunately, there is a better choice that provides stability, efficiency, and eco-friendly options.

GODcoin will provide stability once backed by gold and silver because we know that gold and precious metals will hold their value and are much stronger than the U.S. dollar and ultimately Bitcoin, which is backed by nothing. You can continue to put faith in the government while riding the roller coaster of volatile unbacked fiat and cryptocurrencies while waiting for your one way ticket off, or you can invest in a prosperous future with GODcoin while putting your faith in a coin that will be backed not only by hard assets but is backed by the returned Christ himself.

This article was authored by Judith Monte, @belovebelight

There are many advantages to GODcoin especially since it is one of the few coins that will be backed by gold and silver. Not only does GODcoin offer the illuminated path towards a prosperous future, but very soon, it will be the global currency. To learn more, visit the following links:

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