Ok, so I put an article up a while back about crypto currencies (you can read it HERE). Now the crypto crash I’ve been thinking had to come has come. I’ll be the first to admit I don’t know the ins and outs of what at crypto actually is (I kinda get it, but there’s a lot more to it than I know), but I’ve been looking on from the sidelines and noticed that Bitcoin, the most well known of the crypto’s has taken a huge hit of late.
The Adventurer in me wants to take a punt on this. I’ve seen bitcoin hit almost $70,000 USD a coin last year and now its tanked to $20500 USD per coin. Thats a huge fall. I’m not going to go all in and “sell the farm” so to speak to buy crypto but i’ll be putting in any spare change I can into this. So far I’ve put in $300 but lets see what we can do in the next few weeks to take advantage of this.
I’m not sure if bitcoin won’t fall even further than it has now. It’s statistically unlikely I’ve found the absoulute bottom of the market, but my reasoning is that its lost 70% of its value, it can really only fall so much further before it has to bounce back at some point.
The above image is a screen shot I took off my phone from my trading platform. It shows a definite dumping of bitcoin stock over the last six months. Fingers crossed for me and hopefully I can make a little money on this one!
I don’t think I’m the only one that feels this way either, here’s a pretty cool vid if you have some time to watch with Kevin O’Leary giving this thoughts on crypto HERE.
The crypto crash in the media
One thing i’ve always noticed (with the benefit of being a little bit older) is that when the media is selling panic and fear on a commodity, its usually a good time to buy 😉
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