An engineer has created this simple Bitcoin calculator to show investors how much they would have earned had they decided to invest at a particular time.
If you have ever invested in Bitcoins, you will know yourself whether or not you made the right decision. Or maybe you have never invested in the Bitcoin. Yet there may have been moments when you seriously considered doing that. So, you might have come very near to investing, but then you could have got cold feet at the last minute and changed your mind. Have you ever wondered what would have been the outcome had you gone ahead and purchased those Bitcoins? It’s an interesting question. When you consider that the Bitcoin to pound conversion is 6180.29 at the time of writing, it’s probably a no-brainer. But have you ever wondered exactly how much money you would have made had you decided to invest?
Simple Bitcoin Investment Calculator
In case the suspense of wondering how much money you might have made had you been bold enough to invest back then is driving you crazy, there’s good news for you. You can finally satisfy your curiosity. A calculator has been formulated that can tell you exactly how much money you would have made had you invested in Bitcoin in a particular currency at a particular time in history.
Now you can finally know exactly how much money you did or didn’t make. Are you really interested to find out? You should be. You see, if you’ve been considering investing in Bitcoin in the past and didn’t do so for some reason or another, understanding how much money you could have made at the time will give you an idea of how much money you could make in the future. You may reconsider investing in the original cryptocurrency. Perhaps if you can see how spot-on your hunches were in the past, you can understand how skillful or not you might be if you decided to reconsider investing in the future.
How To Use This Calculator Correctly
You must learn how to use this calculator in the correct manner in order to get the relevant information out of it. There are two key pieces of information to feed into the calculator in order to get the required information. They are as follows:
The amount you had considered investing in Bitcoin
The date you considered investing in the amount
The Resulting Information
Based on the two pieces of information which have been given as inputs into the calculator, the instrument will then give you a correct estimate of how much profit or loss you would have incurred since then. There’s one thing that British users should bear in mind, however, when using this instrument. It shows the profit or losses you would have made in terms of US dollars rather than the GBP. You might need to look up the GBP/USD rate for that date in question in order to get the feedback you require. The instrument will also show you the percentage of returns on your investment (ROI). But regarding the financial amount quoted, keep in mind that it thinks in terms of US currency. At least for now.
The Calculator’s Criterion
The instrument makes its calculation based on two criteria:
The actual value of the Bitcoin on the day you had considered investing
The amount of money you had wished to spend on that investment
Useful Information
There are many moments in life when we make decisions only to back out at the last minute. Perhaps the reason is a lack of confidence. Particularly when investing in something like cryptocurrency which is relatively new on the scene. Analyzing our choices in hindsight can give us an insight into our investment instincts. We may, after all, be more skillful than we realize in choosing when and what to invest in. This information about our choices can also help us, perhaps, to plan a stronger investment strategy for the future. Please keep in mind, however, that the knowledge that you can get from this calculator is for research and informational purposes only. It is the responsibility of each individual investor to do their own research and their homework on proposed investments. At the same time, the information gained from the Bitcoin Profit Calculator will increase your level of insight into your investment choices, thereby increasing your confidence in your own investment instincts and choices.
What Powers This Calculator’s Results?
The calculator uses the data from several reliable Bitcoin sources to calculate what would have been the Bitcoin value on a particular date. Where there are several different prices, it uses an average figure. It has been found that the calculator is as accurate as possible in working out the value of proposed Bitcoin investments on particular dates in the past. Overall, the calculator is an excellent and most reliable source of information regarding the outcome of proposed Bitcoin investments on past dates. It saves the potential investor from wasting time figuring out how their Bitcoin investments might have worked out, had they invested.
What This Calculator is Not
The Bitcoin Profit Calculator has impressed a lot of potential investors with its insightful results. Results that can help investors to figure out their future strategies. But please note that the Bitcoin Profit Calculator is not the same thing as a Bitcoin Mining Calculator. This is a totally different instrument. While the Bitcoin Profit Calculator can tell about the profit and losses which may or may not have happened to a particular investment at a particular time, the Bitcoin Mining Calculator helps Bitcoin miners to figure out the possible profit or loss on their Bitcoin mining initiatives. This instrument takes into consideration the cost of mining the Bitcoin. It considers the cost of electricity, the ease or difficulty of mining, Bitcoin prices, and the block rewards. This will help the miner to decide if the Bitcoin mining endeavor will be a profitable one or not. As you can see, the two calculators play very different roles for very different players in the journey of Bitcoin. So don’t confuse the two.
What Determines the Price of Bitcoin?
There are a number of factors that determine the price of Bitcoin. Let us examine them in a little more detail:
Strong Demand
There is usually always a high demand for Bitcoin. Why would that be? Perhaps because Bitcoin is the original cryptocurrency coin. The first digital coin that ever was. Nothing can ever take that away from Bitcoin. Other cryptocurrencies have appeared and many of them have done very well. Ether is probably the one that has come closest to Bitcoin in terms of gaining popularity on the investment market. But while we are constantly told that the newer cryptocurrencies are faster, slicker, more user-friendly than Bitcoin, Bitcoin somehow manages to stay on top. So the demand for this first every cryptocurrency is still high.
Strong Supply
Certainly, the demand for Bitcoin never seems to abate. But the truth is, this cryptocurrency is scarce. To put it succinctly, Bitcoins are difficult to mine. Difficult and expensive. That’s why they’re not so easily available. Obviously, when the demand is high and the commodity is scarce, the price of the commodity will reflect that.
The Flexibility of Price
The price of Bitcoin is in a constant state of change. Sometimes, for some reason, the price drops. Because of the scarcity of the commodity in respect of demand, there is a rush to buy Bitcoin on the market. Potential investors use the opportunity to grab the crypto coin at a lower price. With the increased market activity, the price increases again. The cycle continues.
The Current Bitcoin News
People often check the latest Bitcoin news on the Internet. If Bitcoin is on a roll, it seems invincible. If Bitcoin comes down in price, many declare it to be on the way out. The tone of the current news often reflects in the price.
How to Predict the Price of Bitcoin?
There are ways of applying what is known as a deep learning algorithm to predict the future of Bitcoin. That’s just another way of saying that we can study Bitcoin’s historical behavior to predict the possible future. The problem with this method is that in the future, factors may be present which may not be foreseen. A perfect example of this is the recent sudden appearance of the Covid-19 pandemic and the effect that it’s had on the world market. So no prediction can be foolproof, as we have seen.
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