investing

Step-by-step guide to buy and sell bitcoin

The market can be volatile
The market can be volatile | Mt Gox logo: © 360b/Shutterstock.com, Computer workspace: © Max Griboedov/Shutterstock.com, Antacid bottle: © whanwhan.ai /Shutterstock.com, Wallet icon: © Artco/Shutterstock.com, Newspaper: © Seamartini Graphics/Shutterstock.com, Market trend line: © Aleutie/Shutterstock.com

The market can be volatile

Just as I was about to buy bitcoin, a series of revelations and news events shook its price.

The biggest came in February when the major trading exchange Mt. Gox suspended bitcoin withdrawals to address a technical issue. Mt. Gox had lost a significant number of bitcoins and questions arose about the management of Mt. Gox, which went offline on Feb. 25.

During this saga, bitcoin's value dropped from the $800 range to the $500 range. The same day Mt. Gox went offline, I bought my first bit of bitcoin.

Value of bitcoin

Watching the price fluctuations of bitcoins can cause even seasoned investors to need antacids. In December 2013, the price jumped to around $1,200 before falling that same month to under $600.

So it was not much of a surprise that after briefly watching my bitcoin actually make a little money, it soon had lost a quarter of its value.

advertisement

          Connect with us
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

CDs and Investment

Start retirement savings at 24?

Dear Dr. Don, At age 24, I recently started a job working for a corporation. I'm interested in individual retirement accounts. I'd like to look at investing in stocks and bonds and learn more about choosing a 401(k) plan.... Read more

advertisement

Blog

Sheyna Steiner

McDonald’s horrible, no good year

McDonald's returns have floundered in 2014. Are consumer tastes changing or is this a mere blip on the radar for the legendary fast food chain?  ... Read more

Partner Center
advertisement

Connect with us