Cryptocurrency investing couldn’t be more alive than at the moment. This is a good time to enter the market for a long-term investor, where you can find tokens at a discount.
The reason why people think cryptocurrency investing is not worth it anymore, is because they lack patience. The market rises significantly in time-frame of a month. The same thing happened in December where Bitcoin and other cryptocurrencies reached their ATH.
Even though a lot of institutions and big executives acknowledge the potential of Bitcoin and Blockchain, the market hasn’t been witnessing any rallies.
What does that mean?
Big institutions are currently dipping their toes into the investment opportunities that some of the top 10 blockchain projects have to offer. They are testing the waters, because everyone is talking about their increased volatility which is driven by the media.
The Last Dip
Let’s take for example the last time the cryptocurrency market saw a “correction” of over $40 billion:
Around 1PM, the entire crypto community saw large blocks in the Bitcoin Blockchain – Some suggested that MtGox custodian was getting ready to sell once again. Prices quickly found resistance once the selling pressure went off.
After the US Market closed at 4PM, Nvidia reveals to the public its quarterly sales results that surprisingly topped everyone’s expectations – Despite the good news, NVDA shares fell as the company noted that the biggest demand for its powerful graphic cards came from cryptocurrency related use.
Nvidia generated over $289 million in sales due to its increased demand from miners in the first quarter, but Chief Financial Officer Colette Kress said that the company expects cryptocurrency-related revenue to fall 65% to about $100 million in the next quarter.
This created another leg of selling pressure in the market sending Bitcoin below the $9000 level once again.
The 3rd wave of selling pressure came directly from South Korea’s largest cryptocurrency exchange Upbit, which is being investigated by local police for alleged fraud.
And the 4th wave comes from Microsoft’s search enginge, Bing, which followed the footsteps of tech giants Facebook, Google and Twitter by banning crypto-related ads.
My guess is that didn’t generate much of a sell-off, because let’s be reasonable, who uses Bing?
Somehow I have a positive feeling after this Bing thing….I am hoping for a rally unless new FUD arrives.
I may be completely wrong…just paying as it comes. pic.twitter.com/8R4yn9WNhy
— Bitcoin, Gold, Silver & Geopolitics (@Super_Crypto) May 16, 2018
What should we expect?
As you can see, media is making the market follow its orchestrated news, which is good for day traders, because they can book profits on every price movement. But this also creates frustration amongst people who consider themselves long-term hodlers.
If you are reading this and consider yourself a long-term hodler, please be patient and do not let your emotions take over control on every FUD created by the media. Imagine yourself in a position of checking your investments in a year from now, do you see any profit? – If you do, then by all means, stop stressing around everything that you hear or read on the internet.
If not, then wait a little until your investment turns a decent profit, which it will, and then pass your coins to another believer.
Short Bio of the Author – Carpenco Dima
One of the top 10 Cryptocurrency Writers on Quora, with over 1,5 million article views.
Blockchain Advisor and Cryptocurrency Enthuziast, Founder of Coinwrath.com
UI/UX Designer – “If you can dream it, i can make it happen”