Good day on a coldish Saturday morning. Coldish for anyone watching the bitcoin price falling and falling. The watch words here is HODL if you have bitcoin, and BUY BUY BUY if you dont have Bitcoin. Also coldish from a winters morning in the Southern Hemisphere.
The internet is abuzz with the falling price of bitcoin, it went from $20000 on the 18 December 2017 down to $6094 as of writting this blog.
On the 23 May 2017 Bitcoins price was $2,537.16, so in a year it is still $3554 higher then this time last year. The trend seems to show that the price will continue to remain above the corresponding days last year but for how long? In truth, no one really knows.
If you bought bitcoin during its rise late last year and you are still holding it then you are ok, yes the coin is not worth what you paid but, it is going to go up again. You need to remain patient and relax, it will rise again. It may stay low for a few weeks longer, but it will rise again.
There is still a lot of adoption going on. New mining warehouses are being setup by mining companies, transactions are still taking place, it is actually the best time to buy bitcoin, remembering that each bitcoin is made up of 100 million fractions. This means that if you buy bitcoin now, and you dont have a spare $6000 lying around, whatever value you buy, you will get a bigger chunk of that coin then when you bought at $12000, for example.
It is strange that the world is trying to grab as much bitcoin as possible in this time, except South Africa, why?
This should be the time to get involved, not when the price goes back to $10000, $15000 or $20000, now! This is where the money is made, let me explain, if you buy bitcoin at a value of R5000 now, you will get 0.06098 bitcoin, if you bought at $12000, you would get about 0.03 odd bitcoin and so it goes. Logically, it shows that when the price is low you get more but then when the price rises that little fraction is worth way more. buy low earn high. All traders know this.
Same with mining, when you earn your commmission with a low price, your payout is actually higher then when you earn at the high prices. The bigger your fraction of bitcoin you hold the more you are worth. So, it you cant afford to buy a whole bitcoin now, join us in our mining pool and starte earning bitcoin. In the long run you wont regret it.
Contact me on the contact page - lets get chatting.
Comments