Question on Bitcoin fluctuation

[Mayden12]

Hey there just had a really important question regarding how bitcoin fluctuation can affect what I have in my wallet at any given time.
For instance, say I have $86 worth of Bitcoin in my wallet and I bought it when it was about $7,000 for 1 Bitcoin, then the price jumps all the way up to $16,000 for 1. Shouldn't this effect what I had in my wallet? The $86 dollars worth would either increase or decrease depending on the situation?

Thanks.

P.S. kind of a newbie

use coinbase

[1715166588]

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[1715166588]

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[1715166588]

1715166588

[DannyHamilton]

Hey there just had a really important question regarding how bitcoin fluctuation can affect what I have in my wallet at any given time.
For instance, say I have $86 worth of Bitcoin in my wallet and I bought it when it was about $7,000 for 1 Bitcoin, then the price jumps all the way up to $16,000 for 1. Shouldn't this effect what I had in my wallet? The $86 dollars worth would either increase or decrease depending on the situation?

Thanks.

P.S. kind of a newbie

use coinbase

If you acquired $86 worth of bitcoin when 1 Bitcoin was $7,000, then . . .

1/1000 of a bitcoin was $7
2/1000 of a bitcoin was $14
3/1000 of a bitcoin was $21
4/1000 of a bitcoin was $28
5/1000 of a bitcoin was $35
6/1000 of a bitcoin was $42
7/1000 of a bitcoin was $49
8/1000 of a bitcoin was $56
9/1000 of a bitcoin was $63
10/1000 of a bitcoin was $70
11/1000 of a bitcoin was $77
12/1000 of a bitcoin was $84

It sounds like you had just slightly more than twelve one-thousandth's of a bitcoin (which is the same as saying that at the time you had a bit more than twelve one-thousandth's of $7,000)

If you do the actual maths of dividing 86 by 7000 you'll find that the exact amount you have is 12.28572 thousandths of a bitcoin (12.28572 thousandths of $7,000 at the time).

Another way to write 12.28572 thousandths of a Bitcoin is 0.01228572 Bitcoins.

Notice that:
0.01228571 BTC  X  $7,000 per BTC = $86

If the price jumps to $16,000 then you STILL have a bit more than 12 thousandths of a bitcoin.  Since that bitcoin is now $16,000, that means that you have a bit more than 12 thousandths of $16,000.

1 thousandth of $16000 is $16
2 thousandths of $16000 is $32
3 thousandths of $16000 is $48
4 thousandths of $16000 is $64
5 thousandths of $16000 is $80
6 thousandths of $16000 is $96
7 thousandths of $16000 is $112
8 thousandths of $16000 is $128
9 thousandths of $16000 is $144
10 thousandths of $16000 is $160
11 thousandths of $16000 is $176
12 thousandths of $16000 is $192

So, you have a bit more than $192 worth.

Specifically
0.01228571 BTC  X  $16,000 per BTC = $196.57


Notice that what you have in your wallet hasn't changed at all.  You had exactly 0.01228571 Bitcoins, and you STILL have exactly 0.01228571 Bitcoins.  The only thing that has changed is how many U.S. dollars you can get for those bitcoins if you decide to exchange any of them.

[Mayden12]

I'm still a little confused, partially because I am using Coinbase and these coins have been on there since the price I said above and its still saying that I have only $91 dollars worth of BTC.
I think this is what is confusing me, is this right I have no clue

Thanks for getting back

[bob123]

Are you sure you have BTC's stored on your coinbase account? You may already have sold them and what you are now seeing is your FIAT balance?
If thats not the case then look at your BTC balance and/or your history. How much BTC did you buy back then and how much do you have now?
Did you eventually withdraw a small amount? Because if you aquired 0.012 BTC you should still have 0.012 on your account.
And pls keep in mind that exchanges are not recommended to store coins longer than needed for trading.

And to calculate it a bit more efficient:

current_value = old_value * (new_Price / old_Price)

current_value = 86$ * (16.000/7.000)
current_value = 86$ * (16/7)
current_value = 196,xx $

[iram1011]

I'm still a little confused, partially because I am using Coinbase and these coins have been on there since the price I said above and its still saying that I have only $91 dollars worth of BTC.
I think this is what is confusing me, is this right I have no clue

Thanks for getting back

How many BTC you actually have?

 I think you miscalculated the price of bitcoin when you bought it. Coinbase also charges some percentage as fees. So, you might have got less than $86 worth of bitcoin. Else, DannyHamilton and bob123 have given the right way to calculate. With bitcoin price fluctuation nothing happens to the amount of BTC you have, but USD amount increases or decreases in accordance to whether bitcoin appreciates or depreciates.

[cindygirl]

I'm still a little confused, partially because I am using Coinbase and these coins have been on there since the price I said above and its still saying that I have only $91 dollars worth of BTC.
I think this is what is confusing me, is this right I have no clue

Thanks for getting back

It's not possible that you had $84 worth of bitcoin at $7000 per BTC and now only $91 at $17000, you should have more in the region of $200 right now if that's the price you bought at. Check the actual price that you bought at and get back to us.

[Mayden12]

Sorry for the wait guys I just want to thank all of you for getting back to this cause I was just really confused and just needed nudging towards the right direction.

The actual price I bought the bitcoin at and the amount I purchased was $52 worth when the price of one Bitcoin was $7,853.49, but spent 16 odd dollars along the way

at this moment right now I have $92 worth (0.00524871)


Bitcoin at the time of this reply is at $17,600.01









Sorry for the confusion, the first post I made was just a scenario I set up in my head to clarify some things.

[dunfida]

Sorry for the wait guys I just want to thank all of you for getting back to this cause I was just really confused and just needed nudging towards the right direction.

The actual price I bought the bitcoin at and the amount I purchased was $52 worth when the price of one Bitcoin was $7,853.49, but spent 16 or some odd dollars along the way

at this moment right now I have $92 worth (0.00524871)


Bitcoin at the time of this reply is at $17,600.01









Sorry for the confusion, the first post I made was just a scenario I set up in my head to clarify some things.

Its just fine since it your money after all and no one would able to stop you on spending some amounts of it. Calculations been given above on what you have potentially earned or the money have grown on the bitcoin you have been first purchased if we do base on its recent price.It did really rise up since coinbase is bitcoin wallet and if bitcoins price rise up or decrease its price then it would normally go with the path on what it was heading so its normal for its volatile. Since this question being answered and been clarified then better to lock this thread.

[DannyHamilton]

Sorry for the wait guys I just want to thank all of you for getting back to this cause I was just really confused and just needed nudging towards the right direction.

The actual price I bought the bitcoin at and the amount I purchased was $52 worth when the price of one Bitcoin was $7,853.49, but spent 16 odd dollars along the way

at this moment right now I have $92 worth (0.00524871)


Bitcoin at the time of this reply is at $17,600.01

If you log into your Coinbase account from a web browser you should see a link at the top that says "Accounts".

If you click on that you should see the following accounts:

• A Bitcoin account
• An Ethereum account
• A Litecoin account
• A U.S. dollar account

Each of those should indicate what the balance is in that account.

For now, I'm assuming that all of your money is in the Bitcoin Account (meaning that you are holding ONLY an amount of Bitcoins).

Click on the Bitcoin Account on the left side of the screen.

You should see a list of all the Bitcoin transactions that you performed on the right side of the screen.

It will indicate when you bought the bitcoins (and how many bitcoins you purchased).
It will indicate when you sent the bitcoins somewhere (as well as how many were sent).
It will indicate when you sold the bitcoins (and how many were sold.

You should be able to follow along the transaction history to see how many bitcoins you have now, and why.

If you multiply the amount of bitcoins that you have left by $17,600.01, then you'll see how much those bitcoins are worth.

[ohzeih5n]

Hey there just had a really important question regarding how bitcoin fluctuation can affect what I have in my wallet at any given time.
For instance, say I have $86 worth of Bitcoin in my wallet and I bought it when it was about $7,000 for 1 Bitcoin, then the price jumps all the way up to $16,000 for 1. Shouldn't this effect what I had in my wallet? The $86 dollars worth would either increase or decrease depending on the situation?

Thanks.

P.S. kind of a newbie

use coinbase

 if your money on exchange site "coinbase" you need to move it into wallet.

price will increase because value of bitcoin increase if you buy 1 Bitcoin at 2017/1 price was 1000$ and now 16,000$
so you must have more than 200$ [price now 17,000$]

[1NV3ST0NM3]

Hey there just had a really important question regarding how bitcoin fluctuation can affect what I have in my wallet at any given time.
For instance, say I have $86 worth of Bitcoin in my wallet and I bought it when it was about $7,000 for 1 Bitcoin, then the price jumps all the way up to $16,000 for 1. Shouldn't this effect what I had in my wallet? The $86 dollars worth would either increase or decrease depending on the situation?

Thanks.

P.S. kind of a newbie

use coinbase

There is no rocket science in it. You don't have $86 in your wallet you had certain fraction of btc in your wallet which were equal to $86 at the time when 1 BTC was worth $7000 but now as the price has increased all the way to 17500 you still have same amount or say fraction of btc in your account. All what has changed is that today these are valued in market at such a higher price.