Sun. Jan 19th, 2020


Timing is Everything

Bitcoin Crashes. What now?

5 min read
Earn free bitcoin

How far will it fall, for how long?

The bears are not quite finished with the bitcoin (BTC) price just yet. With a bounce off the bottom yet to materialize, more losses are looking imminent and some analysts are seeing a collapse to below $6,000 for the king of crypto.

There has been no bounce off the bottom this time for bitcoin which could be a sign of more pain ahead. Since its huge collapse earlier this week the world’s top digital asset has failed to gain any traction above $8,600. The buyers that were supposed to be massing at this zone are remaining cautious as BTC consolidates just below $8,400.

The battle lines are drawn, but nowhere near where the fanatics thought they would be. A $10,000 inflection point for Bitcoin now looks far-fetched, one that serves as a launchpad. Now the bulls and HODLers are fighting for $7,900 at least. 
It marks a critical juncture for the cryptosphere: the buyers and the short-sellers battle it out to decide the road ahead for Bitcoin – possibly for the rest of the year.

Since falling below the $8k mark, the bulls are nowhere to be seen at the moment. Bitcoin’s market capitalization has fallen back to $150 billion and the daily volume is at $20 billion but the crypto market is bleeding at the moment.

The only positive metric for BTC at the moment is market dominance which is still over 70% according to Tradingview. However, that market itself has shrunk by 16% this week as over $40 billion has been converted back into fiat.

Analysts are leaning towards bearish sentiment with predictions going as low as $5,500 by some.

“2 Months ago July the 12th-17th, I called off the Bull Run as one of the first. Not only that, as you can see I told you about targets between 7.4-5.5k.”

Short sellers may dominate for now but they won’t prevail. The 2019 bullrun could be over as bears are running riot on crypto markets again. If bitcoin price does fall below $7k, or even as low as $6k, things are going to get very bloody again for altcoins.

Another cold crypto winter is set to return for the majority of them which have hemorrhaged most of their gains for the year. There has been no sign of recovery from this week’s double-digit market crash as most of the top crypto assets remain in the red again today.

Ethereum has weakened further and is now trading below $170 while XRP hit a new 20 month low. Only one altcoin has made any attempt at clawing back some gains today and that is IOTA which is up almost 4%. The rest are still in meltdown.

So, what now?

Here’s some simple, sound advice. Ignore the noise. This is crypto. Outrageous moves, outrageous overreactions. Price mania, panic, crypto scams, the lot – all these pervade.

So, buy the dip. Dream big but take a long view. We all dream of huge profits from crypto investment but you need to patient. Timing is everything.

Cryptocurrency adoption is gaining traction globally. This means that serious investment money is flooding into the crypto market currently.

In France, for instance, 30 French retailers are preparing to accept Bitcoin payments at more than 25,000 sales points by early 2020. France is the most robust economy in Europe currently. Unlike Germany, the biggest EU economy which remains stagnant, the France is growing.
Among these retailers are Foot Locker, Decathlon, Sephora, and other well-known household names. Immediately after the Bitcoin payments are made by customers, those funds will be converted into euros. 4 million people in France already own cryptocurrency, but this initiative should increase Bitcoin adoption substantially.
But it’s not only happening in major retail stores; the mom-and-pop businesses are also joining the crypto mainstreaming trend – though some of them still consider virtual currencies risky. Helping to address this issue is an insurance start-up, which offers policies covering theft and loss of over 100 different cryptocurrencies.
These sorts of companies are likely to become part of a major industry worldwide: the cryptocurrency insurance market, which will address a number of key concerns for crypto users: 

  • 24/7 wallet monitoring
  • Private key backups
  • Checking for suspicious activity
  • Immediate alerts and warnings
  • Cash replacement in case of loss or theft

With these protections in place, businesses of all sizes will feel safer and more comfortable knowing that their digital assets are secure and insured.

Apple, $1trn tech giant, has just launched a special “crypto kit” for app developers.

Facebook has hit the headlines, announcing plans to launch its own currency – LIBRA – in 2020. A development The Guardian is calling “a risk to global banking”.

Samsung has released a fully integrated crypto wallet into its latest Galaxy S10 – one of the most popular devices in the world.

The world’s 6th largest bank – JP Morgan – is already settling financial contracts using crypto technology… and is widely rumoured to be developing a digital US dollar.

The 4th biggest investment fund on the planet – Fidelity, with $6.7tn in private capital under its care – has launched a “crypto custody” service so its millions of clients can invest securely in cryptos.

And a wave of huge chain stores and services like Starbucks, AT&T, Whole Foods and Microsoft now accept payment in various cryptocurrencies.

In March 2019 computing giant IBM inked a deal to work with six banks to issue cryptocurrencies to retail customers.

News broke yesterday that 25k stores in France will start accepting bitcoin in 2020.

As Forbes said recently: this new wave of “pension funds investing in crypto is a big deal.”

Short term crypto investing is sheer madness. Long term investment gives you the chance to accrue enormous wealth from a disruption to the financial system.

Crypto is a challenging asset class that is not for everyone. It can be scary.

If you want find out more about how to profit making sound crypto investment and how to avoid scams, we recommend to you enroll in xCoin, our Crypto Program.

xCoin is an Ethereum-based ERC-20 token, that combines the power of ETH with crypto expertise in crypto trading of experienced team. It’s not an advisory service or MLM scheme but real crypto investing for real results.

Copyright © All rights reserved. | Newsphere by AF themes.