Bitcoin explained! Given the huge rise we have seen in the recent days and throughout 2016, I figured I would explain what bitcoin is, and how it works, how to trade bitcoin, why bitcoin has gone up in 2016 and why I think Bitcoin will continue to go up in 2016.
There is a lot to explain when it comes to bitcoin: Mining, trading, history, future, etc. So I tried to fit as much pertinent information as possible that will help interpret whats going on with bitcoin in 2016.
I know its not stock related, but crazily enough is important on a macro level and can tell us about the world and other financial moves globally. So I hope you guys enjoy it!
Bitcoin is a digital cryptocurrency that is held in a digital bitcoin wallet
It is a very unique and disruptive currency that has qualities of most traditional currencies.
It is unregulated which is why it is attractive and opposed and volatile in price.
Bitcoin is going up in 2016 because of international fears, especially in China and Emerging Markets. With there being global currency devaluation fears, people believe this is the fuel behind bitcoins rise and that people from these foreign nations are trying to take their money out of their countries and bitcoin is an attractive method to do so. With China being one of the biggest drivers of volume in bitcoin, making up a majority of the coins traded on a daily basis, people are blaming china. As explained in this video, beyond the global fears, the rise in bitcoin in 2016 is due to the bitcoin halving which is taking place this July. So in order to preserve the bitcoin mining community after the halving, some have speculated that this is the reason the price is going up to maintain a stable bitcoin block reward price.
Lastly, we also discuss how to use coinbase to trade bitcoin and how to trade bitcoin without a wallet! Hopefully this helps you all!
Like I said, very different than all my videos, so if this is your first time seeing, hope you enjoyed and I encourage you to check out the rest of our videos and look into the stock market as bitcoin trading isn’t too far removed!
Please SUBSCRIBE to the channel LIKE, SHARE, and COMMENT so I have questions to answers and things to talk about. Also, like I said in the video, I am new to bitcoin and would love to learn more about and connect with other bitcoin traders so please reach out!
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