Once you've gotten involved in Bitcoin, it can be challenging to stay away from Bitcoin-related media. Because of this huge demand for information related to the cryptocurrency, there's more or less always someone out there writing something to draw people in and have them read their articles. That information isn't always the most trustworthy, with any given piece of information usually being contradicted by information from another source. That's exactly why it's necessary to figure out how to stay updated about the current emotions circling BTC in as no-nonsense fashion as possible.
Here’s how you can get started:
The numbers don't lie.
The least biased and most factual kind of reporting on BTC comes from the coin itself. Graphs and charts showing relative values of BTC during different periods of time can be trusted at face value. From there, you can try and make any correlations between real-world occurrences and fluctuations in Bitcoin price. This raw data can't spin a story. It is what it is.
Go to communities involved in Bitcoin.
Communities like that at r/bitcoin on Reddit are a treasure trove of information, but not for the reason you might think. People are often sharing the very same articles of questionable veracity as we mentioned earlier. These communities are best for picking out broad trends as opposed to specific information. The tone of the majority of the posts at any given Bitcoin forum gives you insight into how lots of people currently see the cryptocurrency. If you notice people are wary of buying more coins, that's a significant indicator of the current pulse of the coin's economy.
Download up-to-date software.
Instead of having to manually check prices yourself, you should download an automated piece of software that does all of the heavy lifting for you. There’s even useful software for those looking to take things a step forward and automate their trading habits, but whether or not that's right for you may vary. As long as you have a way to instantly check the current price of Bitcoin, as well as check trends over time, you won't risk being left in the dark over certain movements. Often, you can also set alerts when the value of the coin goes over or under a certain value, something that frees up a lot of mental energy to put toward more fruitful endeavors than frantically clicking refresh in Google.
The early bird gets the worm, and in the cryptocurrency industry, being the earliest bird makes for the biggest profit margins. Even if you don't plan on making a fortune on BTC, it's important to keep track of your investments, as opposed to letting them sit dormant and uncurated for long periods of time. A casual user of cryptocurrencies can increase their level of interaction and level of satisfaction with any given coin by ensuring they have all of the information available to them. Since all of this information comes practically free of charge, choosing not to use it puts you at a major disadvantage compared to anyone who does.