As the crypto space takes a breather, buying opportunities are presenting themselves.
Immediate Alert: Buy-the-Dip Moment for Hive Blockchain Technologies (TSXV: HIVE & US: HVBTF)
We’ve seen news spook the market time and time again, with prices ultimately rising beyond prior highs after the negative news has fizzled away. Considering Bitcoin has come off of its continuous run and has since traded significantly below its $20,000 high, this has put some traders on edge with the entire space, and investors are reacting even greater when negative news comes in the space.
Bitcoin slid as much as 18% on Tuesday to a four-week low due to worries about a regulatory crackdown on the market spreading after reports suggested it was still possible that South Korea could ban trading in cryptocurrencies. South Korea said on Monday that its plans to ban virtual coin exchanges had not yet been finalized, as government agencies were still in talks to decide how to regulate the market.
In just the last month, we’ve seen the entire market cap of the space go over $800 billion, with it currently correcting above $500 billion and a bloodbath of red across the cryptosphere.
It’s important to keep in perspective how far this space has come in such a short period of time. The entire cryptocurrency space is 3x higher than it was 3 months ago, so volatile moves up and down should be expected.
Just 3 months ago, the entire crypto space was valued at $170 billion. Again, perspective is key.
My Top Blockchain Pick of 2017 is trading at a bargain going into 2018. That is Hive Blockchain Technologies (TSXV: HIVE & US: HVBTF), which is currently trading right under $3.00 per share.
Major news from HIVE today was that they commenced Ethereum mining operations in Sweden.
HIVE is building out their infrastructure to continue positioning themselves as the industry leader, maintaining their first-mover advantage in the space.
If you haven’t done so already, consider taking a position in HIVE at these current prices, or think about adding to an already existing position.
This sea of red will prove to once again be a buying opportunity, the same way we’ve seen happen time and time again.
The markets have a way of washing and rinsing the investors that panic at the wrong times, who buy at the top and sell at the bottom. It takes fortitude to hold through the swings and have a vision for the real future in crypto.
I believe 2018 is just the beginning for what is to come…