Bitcoin and Ethereum On Sale Again?
I just love when there is bad press about cryptocurrency (like there was Thursday.) It seems that whenever the naysayers attack, the price drops and it is a like a fire sale. This bit of bad news was 1) that Russia is going to ban payment with crypto, 2) that North Korea was attempting to hack in and steal bitcoin and the biggest negative news was 3) two more proposals to create an ETF involving cryptocurrency were withdrawn. Net result = nervous people sold off and took profits.
Why do I think this is good news? 1) if the media says it is bad, chances are it is just the opposite. 2) when all the people with money are against it, this further proves it is money outside of their control. 3) an ETF is unlikely to be created anytime soon because Wall Street doesn’t have a clue how to deal with cryptocurrency and more importantly, doing so would be giving it a stamp of approval and cause it to skyrocket even faster – thus pulling TRILLIONS out of their existing system.
How can you participate? You have to have use an exchange market. I use Coinbase and I love it. You simply connect it to a bank account, PayPal or a credit/debit card (to fund your account) and you are off to the races. In fact, if you use this link – you will get $10 to use on bitcoin or Ethereum once you have invested your first $100.
I have bought on the bad news and sold on the record highs and have to say it is going very well.
Are you in cryptocurrency? Do you even know what it is? Is it worth tossing a couple hundred buck on the chance that it might make some serious money?
by Chris Doelle