Why?<\/strong><\/h2>\nA news report<\/a> recently announced that the price of a single Bitcoin exceeded $15,000. Every second after it was published, the price rose. Speculators did one of two things:<\/p>\n\n- Invested in Bitcoin or another Cryptocurrency<\/li>\n
- Sold a portion or all of their Bitcoins along with any other cryptocurrencies<\/a> they had invested in.<\/li>\n<\/ul>\n
What was the outcome of this?<\/strong><\/h2>\nThe outcome of this sudden surge in people investing in cryptocurrencies drove record price increases, as expected. It didn’t take long for industry experts to report that it had reached its highest price ever recorded –\u00a0 over $17,560 per coin. This record event took place on 11 December 2017.<\/p>\n
In 2009, the price of a bitcoin was only $0.07. In other words, the price of bitcoins rose nearly 251,000 times in eight years!<\/p>\n
Most people think that the price rose gradually over the years, but this isn’t the case.\u00a0 Bitcoin only started to really spike in value after June 2017<\/a>.<\/p>\nIs this spike a good thing?<\/strong><\/h2>\nSome people are very happy that the value of cryptocurrencies have surged. However, others are concerned about the sustainability of the market. The market may plummet as many speculators begin to reduce their holdings.<\/p>\n
This is not a problem during periods when the value is on the rise. However, when the value of the coins stops climbing again, we\u2019ll see a sudden drop in value. After this period, there will be some stabilization, where the value of the coins has reached a set value.<\/p>\n
How can we prepare for the \u201csudden\u201d drop in value?<\/h2>\n
There are many ways to prepare for a sudden drop in the stability of any currency. The best method is by making use of Big Data and Business Intelligence.<\/p>\n
When we use Big Data and Business Intelligence in any industry, the main purpose is to identify trends and use data to make insightful decisions.<\/p>\n
The things that I would look for in any data the you collect include increasing buzz around famous individuals dumping their shares. You\u2019ll also want to look for any major headlines involving security flaws or previously unreported flaws in block-chain or other cryptocurrencies. This new technology closely ties these innovative cryptocurrencies to similar fates.<\/p>\n
Learning How to Use Big Data Strategies<\/h2>\n![\"Big](\"https:\/\/www.smartdatacollective.com\/wp-content\/uploads\/2018\/01\/Big-Data-Strategies.jpg\")
Shutterstock \/ By Vasin Lee<\/a><\/figcaption><\/figure>\nTo understand how to deploy Big Data collection efforts, and then perform analysis on them, you\u2019ll need to attend a learning institution that specializes in these skills. The degree programs that you want to look for include:<\/p>\n
- \n
- Invested in Bitcoin or another Cryptocurrency<\/li>\n
- Sold a portion or all of their Bitcoins along with any other cryptocurrencies<\/a> they had invested in.<\/li>\n<\/ul>\n
What was the outcome of this?<\/strong><\/h2>\n
The outcome of this sudden surge in people investing in cryptocurrencies drove record price increases, as expected. It didn’t take long for industry experts to report that it had reached its highest price ever recorded –\u00a0 over $17,560 per coin. This record event took place on 11 December 2017.<\/p>\n
In 2009, the price of a bitcoin was only $0.07. In other words, the price of bitcoins rose nearly 251,000 times in eight years!<\/p>\n
Most people think that the price rose gradually over the years, but this isn’t the case.\u00a0 Bitcoin only started to really spike in value after June 2017<\/a>.<\/p>\n
Is this spike a good thing?<\/strong><\/h2>\n
Some people are very happy that the value of cryptocurrencies have surged. However, others are concerned about the sustainability of the market. The market may plummet as many speculators begin to reduce their holdings.<\/p>\n
This is not a problem during periods when the value is on the rise. However, when the value of the coins stops climbing again, we\u2019ll see a sudden drop in value. After this period, there will be some stabilization, where the value of the coins has reached a set value.<\/p>\n
How can we prepare for the \u201csudden\u201d drop in value?<\/h2>\n
There are many ways to prepare for a sudden drop in the stability of any currency. The best method is by making use of Big Data and Business Intelligence.<\/p>\n
When we use Big Data and Business Intelligence in any industry, the main purpose is to identify trends and use data to make insightful decisions.<\/p>\n
The things that I would look for in any data the you collect include increasing buzz around famous individuals dumping their shares. You\u2019ll also want to look for any major headlines involving security flaws or previously unreported flaws in block-chain or other cryptocurrencies. This new technology closely ties these innovative cryptocurrencies to similar fates.<\/p>\n
Learning How to Use Big Data Strategies<\/h2>\n
Shutterstock \/ By Vasin Lee<\/a><\/figcaption><\/figure>\n To understand how to deploy Big Data collection efforts, and then perform analysis on them, you\u2019ll need to attend a learning institution that specializes in these skills. The degree programs that you want to look for include:<\/p>\n