Bitcoin Plummets on Facebook Ban, But Crypto Rally Expected

E L Emerson – 31st January 2018

Bitcoin (BTC) | HNW Says: Buy!

Last 24-Hours – Down 4% | Current Price: $10,189 | Yesterday’s Price $10,643

In the last 24 hours we’ve watched Bitcoin drop into HNW’s recommended buy-in price range of $10,000 to $11,000, and even dip below the $10k watermark before recovering slightly as at the time of writing.

That’s terrific news for those with cash sitting on the sidelines waiting to pounce on this opportunity to own the coin that peaked not so long ago at over $19,500 per. 

HNW has maintained that Bitcoin is a solid bargain at this price range, as we expect a significant upside during the course of February and March for those can get hold of the cryptocurrency world’s alpha coin.

And we believe buying opportunities, like the ones on offer today, will likely become a painful memory for those who didn’t take advantage.

So what’s driving the current cryptocurrency value downdraft?

It’s likely the so-called “unexpected” announcement from Facebook that it will no longer allow ads for ICOs and the promotion of cryptocurrencies on its social media platform.

You can read more about that decision here.

But we see this as a temporary setback shaking the weak investor hands from the crypto-trees.

Our expectations remain high for Bitcoin in 2018, and we believe prices will once again vault upwards into the $20,000 and above territory over the coming months.

As such our recommendation is to hold firm with your Bitcoin if you missed the peak opportunities to exchange it for other currencies earlier this month, during the $13k to $15k and $15k to $18k price ranges.

That said, if you bought in during a peak and are now wondering how far down the slide you have to go before this dead cat bounces again, we say, “worry not.” Bitcoin will recover strongly.

Don’t say we didn’t warn you.

You can find out more about why HNW picks Bitcoin to make major waves in the cryptocurrency market this year by signing up to our free update, The Crypto Millionaire, below.

Just enter your email address and we’ll take care of the rest.

 

Today’s Bitcoin Recommendation

This Bitcoin price point is a rarity, brought in part by market fear surrounding Facebook’s crypto-ban announcement, and the negative from currency exchange closure hype earlier this month.

HNW recommends that you buy now if you’re able, and hold off from selling if you missed the peak price ranges from earlier this month.

You can find out the best way to buy and sell cyrptocurrencies below! 

 

How to Start Trading Cryptocurrencies

It’s simple to get started:

  1. Open a free account at Coinbase where you deposit funds from a bank account or credit card.
  2. Buy Ethereum or Bitcoin with your new Coinbase account (see our recommendations on buying and selling these premium coins).
  3. Once you have purchased Bitcoin or Ethereum on Coinbase, go to Binance and open a free account there. This will allow you to transfer your Bitcoin or Ethereum over from Coinbase and start trading in hundreds of other cryptocurrency options.

 

NOTE: You’ll notice that HNW recommends using Coinbase to buy Ethereum and Bitcoin, and Binance to buy and trade other altcoins. These are affiliate links. They do not cost you anything to use, and if you sign up to one or both it helps us to pay the bills.

 

Get HNW’s Crypto Millionaire here.

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