Judging by the year-to-date price fluctuations of Bitcoin, it’s safe to say that the largest digital currency is finally finding a bottom.
Many of you may be reading this as a negative, considering “bottom” usually translates to losses in the market, but I’m here to convince you otherwise…
Although cryptocurrency as a whole has indeed dropped in price ever since the start of 2018, it’s a good thing and I’m here to give you a few reasons why…
There’s no denying the fact that Bitcoin’s value has taken a dive over the course of the past 12 months.
As I write this, the cryptocurrency has undergone a total loss of $13,056!
Many investors are viewing this plummet as a red flag and a good reason to cut ties with the stock they own. However, things are quite the opposite.
Yes, this drop has caused traders to lose hundreds maybe even thousands of dollars in the process, but looking at the bright side, it’s allowed the currency to find its bottom.
Because of this, Bitcoin is no longer as unpredictable or volatile towards those looking to buy-in to the market.
The digital coin has managed to consistently hover around the $6,500 mark and stray away from major price swings that tend to happen out of the blue.
This is exactly why this mid-$6K range has come to be known as Bitcoin’s bottom.
Don’t be mistaken though, it’s a good thing!
This marker allows investors to accurately gauge the health of crypto, which now has many people under the impression that a bullish market is on the horizon!
After dropping more than 50%, Bitcoin and other digital coins are now relatively stable.
So far, there’s only been one day this month where Bitcoin’s share value has moved 5% or more. You can compare that to January and February of this year, where there were NINE separate instances of these large percentage changes.
For the time being, Bitcoin appears to be somewhat tame, which may hint towards a good opportunity to purchase crypto.
Once investors start to get wind of this “quiet spell” that Bitcoin is in the midst of, they’re going to come pouring money into the market.
Think of it as the calm before the storm…
When that happens, be ready to ride whatever shares you own back up to the top and collect the profits that are sure to follow behind.
