Bitcoin’s volatility can be a challenge for traders. It’s a fast-moving market and, unless you’re in front of your computer 24/7, you can’t really keep up with price movements.
As with all things bitcoin, though, things in this area change quickly. A couple of new products on the market aim to help traders stay up to date with digital currency prices.
Go Bit Go’s free service will notify you by text or email when the price of your chosen currency hits a pre-selected value. As well as bitcoin, Go Bit Go supports litecoin, novacoin, teracoin and other digital currencies using live data from BTC-E, Mt. Gox and Vircurex.
“You still have to rely on your own trading skills to make money, but at least now you can be sure to be notified when the market moves, and you can get some sleep at night,” the company stated.
Taking a slightly different approach, CoinCliff offers a smartphone app that works like an alarm clock, notifying users of pre-selected changes in bitcoin prices. As well as alarms, the app can be set for regular notifications, such as the one displayed when text messages are received.
CoinCliff uses data from Mt. Gox, but has plans to add prices from other exchanges such as BTC-E and Bitcoin-central. The company is offering a free, 24-hour trial for the app, which can be purchased for 0.09 bitcoin.
It is likely that some of these alert services will use the CoinDesk bitcoin price.