So I pretty Much Buy Bitcoin When It Drops Significantly...
Like In The BAAD "Dips"...
I do this based on "bad news" about bitcoin.
I do this so I can get a "bargain buy" every time I go in and buy bitcoin.
Now I am not some super crypto trader!,
I am just simply a guy investing my money into bitcoin and crypto.
I also am not against bitcoin or love bad news but... I like to profit and make my money multiply.
What happens is that people get emotionally attached to bitcoin and other alt coins. To the point where they believe any bad news they hear. This results in the price to plummet depending on how bad the news is.
Now this may sounds like common sense but apparently enough people are selling off to drive the price down so maybe its not so common...
I simply can dominate using this strategy.
This doesn't work in every area of trading obviously.
Many traders use technicals, charts, and many other stats to make wise decisions.
Now, I just use the bad news armed with common sense.
I use the buy low and sell high (or heck even hold) mentality to profit. The "new news" in emerging markets like crypto can cause HUGE effects on the price.
If you know this, you can stand to predict the market. (Most of the time)
Now, the news has to be big enough.. obviously.
Here is the simply 2 step process:
1.) You can usually spot "big news" by surfing Youtube or Googling "bitcoin" or other related keywords and dig up some pretty big news.
Influencers and big names will usually talk about updates and new news.
2.) And you can spot right away when "bad news" hits when enough people are talking about it. (Think CNBC, Influencers, and Crypto News Outlets)
BAM!, you spotted some "bad news" and you stand to predict price movements..
Sure enough the strategy worked! Bitcoin drops to around $1800 BTC...
Its was news about possible hard fork, Segwit2x, and all the crazy changes taking effect and how it can make your bitcoin go "poof" come August.
It scared enough people to the tune of a huge price drop...
Hook, line, sinker....
BUY BUY BUY! Bargain prices are here!
You now are the proud owner of discounted bitcoin!
And its up to you as to whether or not you want to put your bitcoin into "Cold Storage" in your bitcoin wallet to protect it from the looming madness a possible hard fork, or sell them at a higher price.
At the time of this article has been written bitcoin is reaching $2300 already.
Stay Classy Steemit... Stay Classy.
*This article isn't trading advice or professional advice but for education and fun! :)