Bitcoin is Down - What to do?
When Bitcoin is down
I instantly see a lot of people in panic - most of them selling bitcoin and asking himself if bitcoin is a good investment
. Now, before asking Why Bitcoin is going down
we must remember that this situation already happened a lot of times, and will still happen in the future. In June 2011, when BTC was $35 it went down to $2. In April 2013, when BTC was $260, it went down to $45. Still in 2013 (November), BTC was $1,140 and went down to $150. Now the dip everyone remembers very well: December 2017 when BTC was $19,900 and was down to $4,000. For all the questions like Will Bitcoin Rise Again?
or how long will take to Bitcoin recover, I must say you can relax and wait for a long term investment. If you are using the crypto, it is a little more complicated as a decrease of its value can affect your purchases, while if you use the crypto to sell things, you can get this moment as a opportunity to get more coins and benefit for the future rise of the cryptocurrency.
Bitcoin is Down - What to do?
So, there are two scenarios here: investors and people using the cryptocurrency for buy or sell.
If you adopted BTC as your currency, you probably use to both buy and sell things. While buying things when BTC is down is a little more complicated, I believe if you sell things, especially services, you can really take this opportunity to capitalize in the near future. The BTC is down now, your client will pay you for the service and when the Bitcoin recover its price you will have a good rentability on it. Selling services with bitcoin is just like an investment. If you think long term, that's perfect. I know a lot of people that simply withdrawal the crypto into their banking account in Euro, Pounds, whatever. Nothing wrong with this, but you are probably loosing a good amount of money thinking on long term. So, if you don't need instant money, keep your cryptos. I have one business partner that is paying me with Bitcoins. I am keeping this as a long term investment
. I have other clients and decided to keep all btc payments in my crypto wallet. Thinking in long term investment, I already made a lot of money even after these dips. That's because I am getting paid in Bitcoin since 2013. That's because think as a long term investment is the best deal. Now, I think you must use the bitcoin as currency as well, and instruct the small retail in your block to accept the crypto. The usage will keep the whole thing more solid. I wrote a blog post about the importance of use bitcoin as currency
. And the use can be, why not, play a Bitcoin casino like Cafe Casino
or other gaming site that accept cryptocurrency.
Café Casino is a popular Bitcoin gaming site
Bitcoin as Investment
Is Bitcoin a good investment? Absolutely it is! You can work as a usual daily trader or regularly buy some bitcoin fractions to spread your risks and wait for a long term result. I'm not too envolved on the investment side of it, I'm more a regular user getting paid and eventually buying some things. I can be a long term investor as well, as the bitcoins I got as payment I keep them with no worries about the volatility and no fixed dates to withdrawal. I am looking for huge profits in the future and people should be doing the same. If you don't have stomach for bitcoin investment
you can choose other things to do. You can still buying credits to play Bitcoin games online
. What I can guarantee, is that a lot of individual investors are buying massive amount of Bitcoins. It was reported that some individual investors in China, USA, UK and Australia are buying a lot. I know some of them and I can guarantee you these guys are really high rollers putting a lot of money on the crypto space. Actually you can check it by your own verifying the latest Bitcoin transactions at blockchain.com or even something more funny, checking the real time Bitcoin transaction at BitBonkers (www.bitbonkers.com). I remember the early days at Binion's Gambling Hall in Las Vegas when the casino owner was only inviting high rollers to play high stakes on its tables. The legendary Binion stated "If you don't want to play high limits, go find other casino to play
". The Bitcoin situation now is quite the same. Are you in? Do you believe in Bitcoin and are serious on it? Maybe you'd better go exchanage for Euros and play in other area.
Are you in??