As of noon EST on January 7th, Bitcoin is at $39,360 and it’s looking likely it will hit and even surpass $40,000. Congratulations to everyone holding Bitcoin, I bet you’re all very happy right now.
Where will bitcoin go next?
It’s very possible bitcoin will continue to climb as we’re seeing institutional investors enter the space. Additionally, as mentioned in this news post, the SEC is allowing banks to enter the crypto space.
This may mean we’re entering the global adoption phase of bitcoin. This means it could possibly spike to $50,000, $100,000 or more in the next year or two.
That being said, this has been a long run, and it’s also possible institutions and traders will decide to take profits en masse at $45,000 or $50,000. So there may be a correction at one of these two points.
Personally, I think bitcoin is running to at least $45,000 or $50,000 before I see a correction.
Bitcoin’s run has caused a large swathe of the crypto market to post gains as well. Finally, the defi movement has also gone crazy recently, with many in the space quadrupling in value or more.
For those looking to participate in bitcoin’s run, I’d advise trying to wait for a correction. Once bitcoin hits $45,000 or $50,000, look to see if it corrects.
Frankly, I’m hoping it does, as I’d like to acquire more bitcoin myself. At this point, I don’t even know what a healthy correction would look like. A drop of 20%? 50%?
My best guess for a level of support (and possible area to purchase bitcoin) is at around $20,000. That is extremely far from where we are now though and I find it unlikely bitcoin would drop that much.
We’re in uncharted waters. All I can say is that I do hope there is a correction so I can purchase more bitcoin.
Congratulations again to followers of crypto that have held onto their bitcoin and other cryptocurrencies. We’ve officially entered the bull year and bull market for crypto.
Hey, just a heads up, there’s another guide available for free from Blockchain Decrypted!
The guide took tons of effort and has a lot of valuable information. The topic of the guide is how to make money when bitcoin crashes.
It also features a step-by-step walkthrough of how to profitably trade bitcoin in the event of a crash. You can even apply these methods to other cryptocurrencies too!
The guide also discusses where I think bitcoin is headed in 2019, further into the future and why.
It also discusses the key traits reactive traders should have.
Finally, the guide gives you step-by-step instructions on how to “short” on any exchange. Even ones that don’t allow it!
Have you ever wondered just how much money you’d have now if you’d invested in bitcoin?
Look no further!
As you can see, bitcoin is one of the best investments you could have made over the past 10 years. Of course, if you bought at the wrong time this isn’t the case. For example, bitcoin’s all time high.
But in general bitcoin has been an extremely strong asset. Even if you bought it a few months ago you’d nearly have tripled your investment.
Despite what some people say, I do view bitcoin as an investment, not as speculation.
I intend to steadily put money into bitcoin and hold it for the long term, not just for a year out. That alone puts it into the investment category, according to Investopedia.
The discussion of whether bitcoin is speculation or investment will be saved for a future post however.
A couple things I gleaned doing the research for this infographic:
It must be fascinating to be one of bitcoin’s early investors that kept it quiet, one of the “secret millionaires”. I found myself daydreaming about what I’d do with that kind of money.
Typically secret bitcoin millionaires retire, travel the world and pursue their entrepreneurial or occupational dreams. Many found new businesses and online ventures. For example, Barry Silbert took his entire company into the crypto space, to great success.
Similarly, early bitcoin miners made a ton of money too. Mining isn’t super profitable now, but you could easily have become a millionaire if you were in on it at the start.
I’d always realized that I’d make a lot of money if I’d invested in bitcoin early, but I didn’t appreciate the scale of it until I formatted this infographic.
Will history repeat itself over the next 10 years? Will we see exponential growth in bitcoin yet again? Time will tell.
The cryptocurrency market cap just broke above $185 billion, according to CoinDesk. Whales and large institutions are discretely moving vast amounts of bitcoin and other cryptocurrency off exchanges. They’re likely planning to hodl them for the upcoming price surge.
The cryptocurrency market shot up over $10 billion in the past 24 hours on strong volume.
Is this the beginning of a recovery?
Things are looking pretty grim in the crypto sphere right now! Bitcoin has dropped from $6,500 to a low of around $3,450.
As of writing this article bitcoin is now at $4,166, so it bounced a little from the support level at $3,600.
I’m still nervous though. This price decrease was caused largely by a hash war on the bitcoin cash hard fork, which has no end in sight.
Have you ever dreamed of setting up a computer program that makes money for you? That is exactly what a cryptocurrency trading bot is. It’s a program designed to trade for you and generate passive income over time.
Sounds pretty appealing, right? However the truth is that many of these cryptocurrency trading bots lose you money, or break even.
Here are three that actually work:
Ever wondered who some of the masters of crypto are? If you want to stay up to date it’s a good idea to follow the experts. But always remember, consider the source.
The traders I’m about to recommend are all highly skilled and successful. You can’t go wrong getting advice from any one of them!
Pretty much everyone that’s traded cryptocurrencies has probably wondered why the market crashes. So why do coins and the overall crypto market crash? Unfortunately, there isn’t one simple answer. To briefly answer the question though it’s largely a combination of news, technical analysis and manipulation.
A better question: How do I profit from these crashes? Is there an opportunity there? The answer is yes, there is. I’ll dive into a few ways to profit from crashes later in this article.
Without further ado, here are six reasons cryptocurrencies crash…
Concerned about bitcoin’s future? Looking for alternatives to invest in? We have you covered with this list of 7 cryptocurrencies similar to bitcoin. The criteria for a cryptocurrency being similar to bitcoin is that it must be a transaction assistant.
Here you’ll find everything you need to know about 7 promising, upcoming cryptos that are in a related space to bitcoin. Let’s get started!