As time goes by, Bitcoin has been turning into a relatively stable asset, despite numerous security scares. Although there's still some time before it gets to the stability of some of the conventional and more liquid assets, unlike fiat currencies like the Euro or the US Dollar, Bitcoin and other digital currencies aren't backed by governments - thus monetary policy can't influence them.
Instead of acting like a currency, Bitcoin and other cryptocurrencies are rather playing the role of a commodity such as gold. Their value is entirely based on how much people are willing to pay for it and how much their user base believes in it which often leads to volatility and uncertain price ups and downs.
Keeping an eye on prices
Thanks to the uncertainty and the potential volatility of Bitcoin, it is quite recommendable to keep an eye on its value and the movements in its price, especially if you’re looking to profit from it as an investment or by trading it.
And for those who aren't planning to invest in Bitcoin, it is still a good idea to be aware and keep track of quotes and graphs. - Staying informed has never hurt anyone.
Best sources for Bitcoin quotes and graphs
When looking for quotes and graphs regarding Bitcoin’s price, it’s always a good idea to check these sites:
Here, you'll find one of the best Bitcoin price trackers available online. Bitcoin Charts takes care of tracking Bitcoin's price in relation to a vast number of currencies, including the world’s reserve currencies like USD, GBP, EUR, and JPY, and also to other cryptocurrencies available such as Ripple.
They take care of adding different types of charts for variety and also have popular technical indicators like moving averages available for everyone.
Bitcoin Charts also provide a historical time range for the charts that can be as short as one day and as long as eight years, including an option to show All Data available.
CoinDesk is one of the most popular sites when it comes to tracking Bitcoin's price since it has their own Bitcoin Price Index or BPI. It takes three leading Bitcoin exchanges and uses the average price from all of them.
These exchanges are Bitstamp, Bitfinex, and BTC-e.
CoinDesk might provide their BPI or show price data from any of the three exchanges, but they also have historical data for Mt. Gox.
At Coindesk, you can check the Closing and the OHLC price data (Open, High, Low, Close price data). CoinDesk has a time frame for its graphs that ranges from 1 hour to the “All” setting, that takes price ranges as far back as possible.
Famous for many reasons, Coinbase isn’t a source dedicated to price tracking, but nonetheless, possess a Chart view with quotes and graph that tracks Bitcoin’s price.
Coinbase has charts available that tracks the Bitcoin price in relation to the US Dollar and it also follows the number of Bitcoin transactions made per day. This, among many other features, gives Coinbase the fame of being one of the few trackers that provide information of transaction volume, which is a point of interest for many users.
Coinbase has time ranges for the graphs that go from 1 day up to the “All” option. There is also a “custom time range” option for users to set specific time ranges.