Anyone who has been involved with Bitcoin investing knows that it can be a rollercoaster ride. Historically, there have been incredible rises and falls. As an investor, being able to predict those trends is the entire game.
When it comes to accurately tracking Bitcoin koers (prices), there are several tools available that can help create more accurate predictions. Utilizing these tools is critical to your success as an investor and can help you time the market. Though there are more tools available, these are the ones that you should be making regular use of.
News Aggregators
An underrated way of tracking BTC price is using news aggregators. This tool will organise news posts and articles specifically about Bitcoin and display them in an orderly fashion. Rather than having to do a litany of searches on your own, potentially missing out on essential information, you can combine it all into one convenient place.
A critical aspect of investing in cryptocurrency is staying up to date with the news. Things change all the time, and any development can have a major impact on the price of Bitcoin.
Having an aggregator at your disposal should ensure that you are up to date on the latest developments and trends.
Crypto Portfolio Trackers
Another effective way of keeping up with Bitcoin price is to use a portfolio tracker. This tool will help you to manage your current holdings, be it Bitcoin or other cryptocurrencies. It’s a great idea because portfolio trackers will show you a total overview of all your crypto holdings, providing insights on when it might be time to diversify your portfolio or sell altogether.
Having crypto portfolio trackers is great because they can help you keep up with the performance and value of your Bitcoin holdings. Even cooler, you can view a comprehensive transaction history to get a better feel for trends. It is an excellent tool to have if you want to sell your holdings for a healthy profit at the right time. Plus, it never hurts to know where you stand with your holdings at any given time.
Blockchain Explorer
If you haven’t heard of them before, blockchain explorers are critical for garnering information about the blockchain in which your holdings lay. Blockchain explorers are able to view information as it relates to both current and past transactions within a single blockchain. You can track several blockchains under one explorer, making it one of the most thorough and comprehensive tools at your disposal.
Like most of the other tools you will find, blockchain explorers come in different flavors. You can leverage the capabilities of the blockchain to your advantage if you know how to properly use this tool. Look for information on specific transactions, including the receiver, sender, and the amount. You can also find technical data like transaction once and hash. Every ounce of information at your disposal will be helpful when making the right decision.
Social Networks
Believe it or not, social media is a significant contributor to the analysis of Bitcoin and other cryptocurrencies. Through avenues like Twitter (now known as X), users are able to glean a plethora of information and share it with one another. Having access to different information avenues can help ensure that you are up to date.
Even better, these are all free. You can utilize Instagram, Twitter (X), Telegram, Reddit, Discord, and others to create your own stream of Bitcoin information. Sharing resources with other users ensures that you stay as connected as you want to be. Though there are plenty of tools out there to choose from, social media may be one of the most underrated you will find.
