A lot of people are saying that 2017 is the year of the Cryptocurrency and for a very good reason. Bitcoin for example started the year at almost $1000 per bitcoin last January. Just a few days back Bitcoin has broken the $10000 mark. November 28, 2017 mark the highest closing price for Bitcoin at $10058.8.
But today if you have check the price of Bitcoin, it has dropped to $9401.01. Please take note that this is not yet the closing price. But that is a huge dip that would make some people nervous. Before you start selling your Bitcoins, fight that compulsion. There have been dips with the price of Bitcoin in the last year.
A good example is the closing prices for September 13 of this year which ended up at $3882.59. The next day it dropped to $3154.95. That is a 18.75% drop. The next day though the prices went up by 15.30% and ended up at $3637.52 and a few day later prices exceeded the $4000 mark.
So to encourage you more to hold off selling your Bitcoin just think of the price of Bitcoin last September and the prices now. You can’t expect to have the prices of Cryptocurrency to always go up. There would days that it would be bad. Today is one of them.
Screenshot from coinmarketcap.com
If you look at the prices for the top 7 cryptocurrency, you will notice that at of them has dropped at least 15% with exemption of Dash with only 3.97% decrease in the their prices. But it is still a decrease in value. If you check the prices in coinmarketcap.com, you would noticed that all top 20 cyrptocurrency has a significant decrease in value with the exemption of Tether with a 1.07% increase.
Now again, hold your horses. Don’t start selling as there have been trends that the value for cryptocurrency is very unstable. Monitor it in the next few days before you start acting. Like with my previous examples for Bitcoin, the value tends to decrease drastically but it would eventually increase.
On an different note, this is actually a good time to buy cryptocurrency. Unfortunately it is a bit late here in the Philippines and I have no way to load my coin wallet from Coins.ph. It would be a great idea to buy as much as you can and wait for the prices to go up. It is just like the stock market, buy when the prices are low and sell when the prices are high.
If you still don’t have a coin wallet You can register with coins.ph. You would need a government ID to be verified. And for pro tips on how to invest in Cyrptocurrency, I highly suggest your try Crypto Investing pro – Bitcoin and Cryptocurrency made Easy. You will learn pro tips on how to make make money with Bitcoins and Cryptocurrrency.
PS. By joining coins.ph and Crypto Investing pro using the referral link I would get a small commission. So help a brother out. If you do I am truly grateful and if not, that is just fine. I just wanted to be upfront with everyone.
If you want to learn more about cryptocurrency check out this post.
Thanks for dropping by and Screw Monday!