Why isn’t crypto going up?

Why isn’t crypto going up?

crypto is the hottest thing right now. Everyone and their mother wants to get in on the ground floor. But here’s the problem – if you invested $100,000 into cryptos back in January 2017, you only would have made about $50,000. That means you lost 50% of your money! And remember, it wasn’t even the best year ever for cryptos! In fact, it was actually pretty bad. You know what happened? Other people got greedy. Instead of just investing a small amount of money at first, they put all their eggs in one basket. And then the bubble bursted. Cryptocurrencies crashed. Bitcoin dropped from around $20,000 all the way down to $3,000. Ethereum fell from over $1,400 to under $300. Then a bunch of other cryptocurrencies followed suit. People were afraid to invest anymore because they had already lost half of their money. So instead, they turned to mining coins (which is where I am) to make some quick cash. They thought that if they mined enough of these coins, they could turn them into real money. Well, guess what? The market didn’t go up. As soon as people started mining coins, the price shot up. If you’re still mining coins now, you’re just buying into something that won’t work. Now we’re stuck with tons of unsold ASICs sitting around collecting dust. People are getting out. Many investors have taken their losses and moved on to more promising ventures. Why are they doing this? Because they’ve learned a valuable lesson… Crypto doesn’t always go up! Remember that. Don’t fall prey to false hope again. Learn from my mistake and learn how to invest smartly. If you do, maybe you’ll become rich like me!Crypto could have easily hit $4000 today. There may still be a short term sell off ahead of the halving but long-term I think we have already seen the bottom and if Bitcoin goes back above $10,000, I would be shocked.

A lot of people who got involved in Crypto were expecting at least $3000 per coin. When they saw how low Bitcoin was trading, many thought it had hit its lowest point and decided to jump in. A lot of people bought around $600-$1000 worth of BTC in early 2017. If you look at the chart below, you can clearly tell where many of these people sold their investment and moved onto other investments.

I think we are now seeing a wave of people realizing that investing in Crypto is just not a good idea. Many of them sold out at much lower prices than they expected (especially after the halving) and are now regretting it.

If you are considering getting into Crypto, my advice is to wait until it hits about $10,000 before buying any coins. If you do invest, make sure you choose a good exchange service like Binance.co or Coinbase. You want to make sure that you are dealing with reputable companies. Once you buy some coins, make sure you keep your wallet private!

Bitcoin cryptocurrency market analysis investing trend following

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