An expert’s reassurance…
It’s no secret that cryptos have had a rough few weeks.
Some have even been calling it a bloodbath…
But that’s only correct if you decided to sell at a loss.
Otherwise, you’re still in with the chance to amass healthy gains. It all depends on what cryptos you have and which way the market turns next.
Something that is proving harder and harder to predict.
However, our crypto expert John Duncan has some reassuring words for all those wondering whether to invest or that already hold some crypto…
Having watched the heavy decline of crypto prices over the last two weeks, it looks like we may finally be seeing a period of settling, allowing the crypto assets people hold to stabilise and start to climb back up in value.
I am watching the markets carefully to see if this is merely a period of respite before another drop.
I’ve been asked many times over this recent period if I was worried about what was happening and the simple answer to that is no, not at all and I will share my reasons why in a moment.
Recent events saw Bitcoin taking quite a hammering before settling down again reaching, at one point, as low as $6,000.
I am not going to kid myself that the raging storm of volatility is over, but I have been encouraged by this bounce back even if it does prove to be short-lived.
All cryptos are still very much linked into Bitcoins’ fate and we will need a good few days of money piling back into the markets before we return to some good profit levels.
It is impossible to get a good feel for what is making real individual progress in the crypto world when the whole sector and everything in it ebbs and flows so dramatically with Bitcoin.
I wasn’t worried for the long-term future of Bitcoin; even though many have contacted to voice concern over its ability to survive the current onslaught as I have, frankly, seen it all before.
There has been such an onslaught. The banks in the USA and now in the UK and, I assume, the bulk of Europe will follow; have stopped people using their credit cards to buy Bitcoin (and by extension – cryptos generally). Most debit cards seem to work fine however; strange when they are controlled by the same merchant services.
So it would seem that the banks now have a right to censor what we buy and use our cards for.
You’d have to be naive as hell to buy their official story that it is to stop people from getting into debt they cannot handle. It has nothing to do with that, and wouldn’t that be something if it was true – coming from organisations that used to tempt us on a daily basis into borrowing more and more, especially on our credit cards!
No, the real reason is that the banks, in tandem with the governments of these wonderful Western democracies, are losing control of the grip they have over our money. And if you control the money, you control the people.
But it will not matter in the end.
There are some brilliant minds in crypto and Blockchain technology, and some of them will move us to a point where the banks become incidental to us all.
Bitcoin is the right way forward to getting out of the iron grip of a broken banking system.
Blockchain technology is the way to fix a whole lot of broken systems. It is for these reasons that Bitcoin and the stronger cryptos that have emerged will succeed in the end. There is nothing to worry about.
They also love to use the exhausted excuse of Bitcoin is the currency of criminals and money launderers. Guess what, it is sometimes used by bad people just as cash is used by bad people and property, shares and precious metals are used by money launders.
We all need to remember that just six months ago, in August 2017, Bitcoin was worth $3,200 and so, today it is still about $5,000 above its August levels.
Stella Lumens, back then was 2 cents, Ripple 18 cents and Ethereum $258. Those three are now 36 cents, 78 cents and $824 respectively.
And people panic…
Markets crash because people sell off when they shouldn’t and don’t want to be caught with a poor asset.
We have to trust our judgement in times like that.
Keep a cool head and stand aside from the crowd and leave the panicking to them. The big money is always made by those that stay in the game and then soak up the cheap assets that the panic brigade leave behind.
If John’s words of reassurance have resonated with you and you find yourself genuinely intrigued by the crypto market, then click here to find out how to subscribe to his in-demand service Cryptocurrency Profits.
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