Yes, the proverbial shit has hit the fan. Every coin in the cryptocurrency market has basically done a nose dive towards the deep end, racing each other to the bottom. Even good ole' Bitcoin has tripped up and has dropped to the 11k range. Many coins like XRP, are available for a tiny $1.21 a pop. TRX, 5 cents each. BNB, $14 per token. My portfolio is in the red, hell, everybody's is that is currently playing the market. My advice to someone wanting to get in crypto? Do it NOW!
This is the perfect opportunity to invest some money and make bank! If you want to make big gains, profit while others suffer, it's how it goes. Coins are at an extreme low, so pick out what you think is going to increase in value, and let loose! Make sure you google and look into the companies behind these coins, because some aren't going to make the cut after this week is over. In other words, we are in the midst of a crypto purge. Expect quite a few altcoins to go belly up after the losses they have been pummeled with the past week! My advice, hit Binance and buy up some BNB. You're welcome!
With prices this low, Bitcoin, Ethereum, Ripple, Monero, Dash, Litecoin.....they're all sure winners, just who levels out and grows first is the only question. When will the market level out, is another good question. It could be a couple days, maybe more, maybe less, but inevitably, it will happen! Do not let the loss of other discourage you from making money in crypto, take advantage of this dramatic plummet, invest in crypto and see green while everyone else see's red!
Stay posted for more posts, videos, blogs and music from Devon over here at Terminally Ill Productions. I hope that some of my posts can help someone else out, because most of my work is based on personal experience, this post is relative to that. Please support my blogging and music by following me, upvoting, resteeming and just showing some love!
What are your thoughts on this piece? Any additional advice? Any comments? Please share them, I'd love to see what you all have to say. Good luck to everyone in the market who was hodling when the bottom dropped!
Bitcoin is dying and its dragging the entire market down with it. The markets are literally joined at the hip with BTC, and when BTC falls because people have realized how slow and unreliable it is, the larger market ( the new money, people who have been in the game for less than 5 months) panics as they believe that bitcoin IS the market, and if bitcoin fails, then everything else does. This is part of the issue when people like Warren Buffett go on record saying that "Bitcoin is a bubble and will burst" That part is true, for the most part, not many people are willing to pay $36 for a transaction, especially one that takes an hour or more to confirm, and even more so when the developers make little attempt to fix the BTC network -
But when everyday people hear things like this is causes a massive amount of irrational fear...coupled with news from South Korea which was false, as well as news from traditional outlets that claim the market and Bitcoin are constantly dying. We risk going into a free fall in prices within the next few weeks if people don't stop spreading false information. The market dropped by 30% just on false news and an assumption that Korea MIGHT POSSIBLY COULD BE MAYBE be banned from the markets. What would happen if over a 3 day period Fox News and CNN falsely reported that "Bitcoin" was going to be banned in the US, without any proper sources to back it up? The market would implode all based on a rumour. This is why its VERY important to not follow false channels, or people looking to hype coins, its causing the market to expand in a direction that it shouldnt be going, which is the hype, pump, dump and the market is burning scenarios. This has a lasting effect on the human mind, and we'll pay for it eventually.
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Very, very well said and a much needed contribution to this post. This comment deserves upvotes and i'm following you now! Thank you! Please follow me @terminallyill, check out m,y posts and resteem this so others can see your contribution!
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Which coins do you think would survive if Bitcoin, the almighty, happens to fall and stay down? Ripple looks promising to step up as a prime. Bitcoin forks maybe as well, could survive don't you think?
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The people panic selling and leaving the crypto scene are idiots this is the perfect time to buy more let them miss out on the profits.
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I agree with you entirely. I'm trying to be careful which coins I move around in my portfolio, simply because if Bitcoin itself falls, someone is going with it, but some altcoins will step up and flourish.
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Agree with your sentiment. The past two month with the influx of weak-handed amateur/“housewife” investors, the phase “buy the rumour, sell the news” couldn’t be more true
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Amen to that. Time for folks to strike while the iron is RED hot!
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Interesting that a coin called Tether is one of the only coins that has an up tick today. Did you see that?
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I did not, I've been out most of the day, it's my 33rd birthday. Tether you say? That is interesting, I'm going to look into that. How big of gains has it had? What exchanges can I buy it on or watch it on?
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