Whether you're into (or in) Crypto or not, whether you HODL or not, whether you even believe in "digital currency" or not, undoubtedly, awareness of cryptocurrency has increased in exponentially in 2018 - for good and bad reasons.
Those in the space have seen the total Marketcap go from within a touching distance to a trillion dollar market, to a mere $120 Billion today (25.11.2018).
While many are still unsure as to what actually drives the prices up or down, or where the bottom is, everyone (yes, everyone) should take into account that conventional and mainstream markets are also taking a beating, from Apple stocks, to oil prices, to Silver. The market "crash" is not exclusive to Cryptocurrency, as much as the mainstream media would have you believe.
Bitcoin sits at around $3,800.00 and is likely to go down even further if it breaks support, and the same can be said for Ethereum in breaking $100.00.
What now?
With Bitcoin prices being this low in quite a long time, a lot of touting this to be very close to capitulation - when investors give up any previous gains in any security or market by selling their positions during periods of declines.
When Bitcoin was at its all time high, people were praying for it to be back at 16k, and 12k, and 10k, just so they could buy more and fill their bags. Now, at 3.8k, people are screaming "Bitcoin is Dead" like clockwork every year. 2018 isn't the first Bitcoin has had its funeral held and obituary read. And it will not be the last time Bitcoin will rise from the dead.
So does this mean "buy, buy, buy"? Yes, and no. Many experienced traders, or even those who have been in the crypto-market for a considerable period knows that if you try to buy as the prices fall, you will only end up losing as it's incredibly difficult, and a bad move, to catch "a falling knife". Find a strong support level and accumulate - buy in stages and dollar-cost average your investment.
Buy a fraction of Bitcoin today, and some tomorrow. If the prices go down, good for you, if the prices go up, then take it on the chin and keep buying as much as you can afford to lose comfortably.
Practice Caution
When investing in Crypto, be prudent and smart as you would investing in conventional stocks and other commodity, but keep in mind the extreme volatility of it all. Never go all in, and take profit when you can. 1% profit is always better than any amount of loss.
As always, Do Your Own Research, and short the bankers, and long Bitcoin.
Till Then,
Mikeshashimi
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
