Now Is the Time to Invest with Cryptocurency
If you have been wondering if it is too late to invest with cryptocurrency, then you will be glad to see the recent dip in prices. When everyone else is worried and selling out of emotion, you have the opportunity to make a decision to buy in the dip.
Why Are CryptoCurrencies Dropping?
Some people bought in a peak and are selling because they are scared
of losing all of their money; this is the opposite of what I would
recommend and the opposite of the common investment tip of ‘buying low
and selling high’. These people have bought high and are selling low
when they could hold onto it and wait for their investment to recover
and show a profit. Unless you know something that most of the world
doesn’t, that will result in the abolishment of cryptocurrency, the
market will recover.
Other people bought low in 2017 and decided to sell while prices were high to realize some profit from their early investment.
Blue Monday
may also be to blame for the dip in prices. People are receiving their
bills from spending during the holiday season. Some people may have over
spent in the light of seeing the value of their crypto exploding before
Christmas 2017. As a result, crypto is being withdrawn into fiat
currency to pay for bills. Blue Monday can also be attributed to the
weather, the amount of time since Christmas and time since failing a new
year’s resolution.
Another reason as to why we are seeing such a bearish market is due
to expert traders executing stop-loss orders. These are commands given
to crypto exchanges that automatically sell when the price hits a
designated low-price for selected currencies.
Yes, China and South Korea’s reluctance to accept the cryptocurrency
industry may also be impacting the extreme drop in prices. I believe
that blockchain is a world-changing technology and, as a result, will
only be temporarily impacted by select countries issuing warnings and
bans. Also, the fact that most cryptocurrencies are decentralized
prevent any one country or entity from crashing the crypto market as a
whole.
You may hear about banks warning people about cryptocurrencies. Who
do you think has been taking advantage of people and their finances over
the past century? A good investment rate at my bank has been 2.5% for a
year if I’m willing to let my money sit for a few years. To me, these
rates are almost insulting and I don’t have much sympathy for banks that
have been filling their pockets while many in society have been getting
closer to levels of poverty. Banks are one of the main industries that
will suffer as a result of blockchain and cryptocurrency. People can now
manage their own money with less fees and more freedom. Take everything
with a grain of salt, including this article; however, one must
understand where people are coming from when they heed caution.
What’s Next?
Prices of crypto may spike in the near future due to the release of Wall Street bonuses, according to Investopedia.
The release of a substantial amount of funds combined with a recent dip
in prices are credited with this “crypto buying spree of epic
proportions”.
Personally, I made a purchase last week when prices started to slip
in hopes of buying in a dip and prices continued to drop. Truth be told,
I metaphorically vomited in my mouth when I woke up to see prices
plummeting this morning. That was the emotional response. Then came the
logical response. I did everything I could to fund my accounts further
in aim to buy today while prices are very low. Yes, prices may continue
to fall but they are still expected to increase dramatically by the end
of 2018 and I don’t need access to my investment funds anytime soon.
Buying when the price is low allows for the multiplier effect to be
amplified. A $1 coin that is worth $20 in a year will be an amazing
2000% gain; however, a $0.50 coin that is worth $20 in a year will yield
an, even more, amazing return of 4000%! Blockchain and cryptocurrency
aren’t going anywhere and will be just as normal, and integrated into
our society, as the Internet is today.
How can I buy Bitcoin or other cryptocurrencies as quick as possible?
Credit card purchases are often instant and some exchanges offer instant purchases using an Interac transfer.
CoinBase is a great exchange for credit card purchases. Click here to get a $10 USD credit for signing up with Coinbase.
CoinSquare
doesn’t offer credit card purchases but you can do an Interac online
transfer for an instant purchase or use Interac e-transfer which can
take 1 to 5+ days (took 3 days for me). Click here
to get a $20 CAD credit for signing up with CoinSquare.You can also use
Flexepin for an instant purchase but I haven’t used this method so I
can’t recommend Flexepin.
QuadrigaCX
is a Canadian exchange that might be your best option if there are
delays in verification from other exchanges. They also offer competitive
fees.
Please comment below or email me directly if you have any questions about investing with cryptocurrency.
Always here to help,
Justin
Invest With Cryptocurrency; Grow Money