E L Emerson
It’s a new kind of cryptocurrency ugly out there as traders in Bitcoin and altcoins run for hills in expectation that a downturn in the market will become an all out crash. And meanwhile, the strong hands and experienced long-term investors are rubbing their hands in glee at this rare opportunity.
They’re picking up what’s been dropped by terrified short-term investors at bargain-level prices, and laughing all the way to the imaginary coin bank in the expectation that cryptocurrency prices will rebound.
That’s the game here, folks.
According to Coinranking.com the average loss amongst the top 50 cryptocurrencies is running at over 10%, with altcoins like Ripple, Tron, Bitcoin Gold, Bitconnect, Binance Coin and many others in that cohort experiencing losses of well over 20% in that same time frame.
Only Gas and Tether coins have managed meagre gains of under 2% in the last day.
But this type of price action is no different in the big-boy-pants markets of the Dow Jones, Nasdaq, S&P 500, FTSE 100 and others.
The simple truth here is that those who panic are lost.
In facts, it’s moments like this that often make or break moments for savvy traders; can they stay in and buy when markets are plunging, or will they run and lose out in long-term wealth?
The truly wealthy wait months and sometimes years for this type of bargain-buying cycle to occur, holding back cash reserves to grab huge dip-driven deals in a cryptocurrency market that sheds the weaker more inexperienced hands as they get their first real taste of Bitcoin and altcoin “Tulip Mania.”
It’s not Armageddon, folks.
It’s an incredible opportunity for those turn it into one.
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