Over the past 60 days, Bitcoin's value has tremendously dropped to say the least.π
Bitcoin holders sold, and when they sold, the majority followed.
From my analysis and many other's opinions, we believe that the cryptocurrency markets have hit their 'floor', as in the lowest value which successful currencies will hit. We believe that now, the value of successful cryptocurrencies are only to rise and not to dip to current prices in the future.
Let's take a look at Bitcoin's value over the past 60 days, shall we?
Over the past 60 days, Bitcoin has gone down over 3 times' its peak value. For those who invested in Bitcoin, I hope you either sold and profited or held through the plummet and are still holding/converting into alternate coins.
Above shows the value which you would be buying Bitcoin from Coinbase, a large, mainstream Bitcoin broker. Understand that in the past two weeks, Bitcoin has gone from values around $6,000 up to over $11,000. This isn't advice but I am telling you what I am doing myself and what I'd recommend, that if you are looking to invest in alternate coins rather than Bitcoin, then buy at a low price that you feel is comfortable before you end up buying at a higher amount and getting fewer coins.
Enough babbling, go do some investigating for yourself! Only consider my thoughts.
That's it for this post but if you haven't read any of my other articles, I'll have a few posted below for you to check out.
Is Bitcoin A Bad Investment?
Got Electroneum yet? Now is the Time ππ[Daily Crypto Report]
Blockchain Technology [EXPLAINED]
Thanks for reading and happy steeming !!
Investing in cryptocurrency assets is extremely volatile compared to traditional financial assets. Perhaps you should advise your readers about developing a risk management strategy before diving in. When you're investing in an asset like Bitcoin, how can you truly know when is the "bottom"? It's hard of not impossible to tell since the crypto market is in a nascent stage. Dumb money comes pouring in and we don't have any data showing how much of the trading volume belongs to it.
Anyways, I think it would be cool if you write something about risk management. It's a cool topic and you might learn a thing or two ;)
Hey @cryptofortuna! I agree with you totally and I will be writing about risk management strategies in my one of my next upcoming post(s). Thank you for the valuable comment. Your advice is much considered and very appreciated.
Message me when you finish it. I'll definitely read it
This post has received a 0.05 % upvote from @drotto thanks to: @stevenpomilia.
I've bought for 7k, 8k, 9k and sold everything for 10k and I don't regret it. I think we're on local top...
This post has received a 5.68 % upvote from @chronocrypto thanks to: @stevenpomilia.
You got a 4.23% upvote from @inciter courtesy of @stevenpomilia!
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