400% Gains For Those Taking Advantage of The Bitcoin Crash
In this terrible crash, is it possible to maintain composure and profitability?
The simpe answer is yes, but first take a quick read of this article posted at Business Insider
Monday's drop comes amid announcements from numerous major banks prohibiting the use of their credit cards to buy bitcoin and other cryptocurrencies. In the US, JPMorgan Chase, Bank of America, and Citigroup have announced bans, while Lloyds Banking Group is expected to do the same in the UK on Monday.
Confidence has also been dented after reports that China is planning a ban on websites related to ICOs and other forms of cryptocurrency trading.
"To prevent financial risks, China will step up measures to remove any onshore or offshore platforms related to virtual currency trading or ICOs," an article in Financial News, a publication affiliated to the People’s Bank of China (PBOC) said, according to a report in the South China Morning Post.
More concerns emerged about the sector last week as Facebook banned cryptocurrency advertisements and US regulators began investigating tether, a cryptocurrency that some fear has been used to inflate the value of bitcoin.
Last week, India's finance minister, Arun Jaitley, also said that the Indian government "does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto assets in financing illegitimate activities or as part of the payment system."
Elsewhere in the crypto markets on Monday, Ethereum was lower by 6% to trade at $778, while Ripple's XRP was also 6% lower at $0.76.
Expect 400% Profits If You Time This Right
So how in the world can you still become profitable in this situation?
Here is how you can profit by buying more at the lowest price in months.
You might not see immediate profits, but you will see profits none the less
Follow me @mybitcoinacademy
Okaaay. when/where/how on the 400% and what's the timing strategy that you are proposing?
Ok in order to really profit you have to think. How will people shift their assets? If Bitcoin continues to crash, what will the bottom look like? Can Steem succeed without bitcoin? What are companies doing to survive in this situation? It stands to reason that Bitcoin could fall as low as 4000, which is atill higher than it was back last May. That would be considered an appropriate leg 2 of an elliot wave in my opinion. Regardless, it will get pumped again, maybe only to 14k, maybe 40k. Take a look at rsi, fud factors, and i personally will be looking into Neo, ETH more and more.
And that annoucement made them freak out and panic sale. Not even do research that credit card was prohibited to access and buy crypto since early december.
I agree, those big banks are shooting themselves in the feet. I bet there will be a few entrepreneurs looking to fill the gap in this situation.
thank you great post
Coins mentioned in post: