Bitcoin has been making huge moves in the past few days and you might be wondering why. At one point, bitcoin was making new highs just under $20,000. In the next few days it was down to around $11,000. Bitcoin is one of the most volatile investments that many people have in their portfolios and because of that, they are afraid to lose money. Millions of people jumped on the bitcoin hype train and rode it up to $20,000. Once it entered that range, there was a huge group of investors that took profit.
In addition, Bitcoin Cash was also released which confused the average crypto investor. They had no idea what this new coin was and if they should be buying it instead of bitcoin itself.
After working with and watching many other professional cryptocurrency and bitcoin investors, there strategies all ended up being very similar; buy when everyone else is selling. This means that when bitcoin is having a down day, that's the time that you want to jump in and scoop up a lot as long as you still believe in the value of the coin yourself .
The reason that bitcoin has been shooting up in the last couple of years is because of the accessibility of bitcoin. Businesses are beginning to accept bitcoin as payment
Yesterday, December 28, 2017, news broke that the South Korean government is cracking down on bitcoin with proposed legislation seeking to limit how banks interact with bitcoin and other cryptocurrencies. This will not necessarily take place, but it is the threat of it that scared many crytocurrency investors because South Korea accounts for almost 25% of bitcoin transactions worldwide.
The good news for bitcoin investors and almost all other cryptocurrency investors is that the coins are still trending up. They have these big sell offs, but then the buyers jump back into the markets and the price of the coin begins to rebound. If you are afraid of "catching the falling blade" then you probably need to do a little bit more research and cryptocurrencies and investing because that is how the money is made. Buy low sell high.
In addition, Bitcoin Cash was also released which confused the average crypto investor. They had no idea what this new coin was and if they should be buying it instead of bitcoin itself.
After working with and watching many other professional cryptocurrency and bitcoin investors, there strategies all ended up being very similar; buy when everyone else is selling. This means that when bitcoin is having a down day, that's the time that you want to jump in and scoop up a lot as long as you still believe in the value of the coin yourself .
The reason that bitcoin has been shooting up in the last couple of years is because of the accessibility of bitcoin. Businesses are beginning to accept bitcoin as payment
Yesterday, December 28, 2017, news broke that the South Korean government is cracking down on bitcoin with proposed legislation seeking to limit how banks interact with bitcoin and other cryptocurrencies. This will not necessarily take place, but it is the threat of it that scared many crytocurrency investors because South Korea accounts for almost 25% of bitcoin transactions worldwide.
The good news for bitcoin investors and almost all other cryptocurrency investors is that the coins are still trending up. They have these big sell offs, but then the buyers jump back into the markets and the price of the coin begins to rebound. If you are afraid of "catching the falling blade" then you probably need to do a little bit more research and cryptocurrencies and investing because that is how the money is made. Buy low sell high.
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