Bitcoin has rightly been compared to a whale that is engulfing up more and more investments in its fold, and the size of it is increasing day by day. But why is Bitcoin's current value so hard to determine? We all know that although there have been a few falls here and there, net prices have soared up ultimately. However, these pits here and there, and those too very large ones, are the ones that make well for the answer of why the Bitcoin current value is so hard to determine. Furthermore, the stakes in Bitcoin are usually so high that even small changes in the current value of the Bitcoin can affect you considerably at the end of the day Balance sheet. So traders are always interested in knowing the exact current value always, before placing a trade order.
Why the Bitcoin Current Value Is So Hard To Determine
By analyzing why the Bitcoin's current value is so hard to determine, one can understand some of the physics behind it, and thus can be in a position to make a better judgment.
1. Never Sleeps: Like any other cryptocurrency market, Bitcoin also never sleeps. It is functional day and night, 24 cross 7, all year round. So this makes it very difficult to determine the current value, as that also keeps on changing every moment.
2. High Stakes: Usually it so happens, that while trading some commodity or instrument, very small rice changes can be ignored. But when it comes to Bitcoin, the investments are usually very high, which means even small fluctuations would add up to big profits or losses, and as such, one cannot ignore these. This is a self-evident answer to the fact as to why Bitcoin's current value is so hard to determine.
3. Varies: Why the Bitcoin current value is so hard to determine is also due to the fact that there are many exchanges that allow for buying and selling of Bitcoin. Each exchange has its own rate, and that also keeps on changing from time to time. So as a result, this determination becomes all the more difficult.
4. Market News: Market news is something that affects the price of Bitcoin by leaps and bounds. Even tiny news can change the whole trading scenario and as such it is one of the main reasons as to why Bitcoin's current value is so hard to determine.
5. Interlinking: Interlinking of all these factors, further forms a kind of network, that is difficult to predict and understand, but that keeps on affecting the price of Bitcoin.
How to Determine Bitcoin Current Value
Considering the factors as to why Bitcoin's current value is so hard to determine, many people are opting for ready-made services from companies like executium.com. These are teams of expert professionals who work fully fledged on working out prices at a given point in time, and so give you very accurate and reliable figures.