Ooof. What a crazy month it's been - There have been more bitcoin forks, more FUD, and even scandals involving Bitmain - the world's leader in mining rigs. Bitcoin's price has been dropping like crazy, and most (if not all) others are being sucked into the whirlpool and circling the drain as well. I know what you're thinking - SELL! Get out while you still can! RUN!!! Most people are doing that as well - Investors are selling like it's nobody's business, thinking the market is going to crash, and really, REALLY hard. People are seeing this "glass floor" of a price, and are thinking it's going to shatter soon... if it hasn't already. I mean, everything is down nearly 20 percent, why would anyone bother with their assets at this rate? I'll tell you why: Because this happens. EVERY. YEAR. Here's how you can profit from it:
Now, I've mentioned before I've been in the crypto game for a good 5+ years or so. I've seen history repeat itself plenty of times. One piece of history, however, is pretty profitable. Maybe you've heard of it, maybe not, so I'll explain it here.
Let's start by taking a look at some easy charts.
I've set them to the closing prices between the dates Nov 30 - Jan 31st. These charts are shown for 2018, 2017, and 2016. It doesn't take a technician to notice the same pattern occurs around this time period. Essentially, there seems to be a massive boom right around the turn of a new year, or thereabouts, in these couple of months. Sure, it might not be as dramatic as last year, but the pattern seems to hold itself quite well. So with that simple pattern in mind, let's take a look at where this year is heading.
Look at that sharp nose-dive! It lost nearly half it's value! Why am I so excited? Because I believe this is setting the stages for another price surge, as it's demonstrated to have done in the past. There might be a term for it, but I'd like to call this my "slingshot" theory. I've seen this happen every year, and it definitely looks like it's going to slingshot itself back to higher prices again.
So, how are you going to profit from this great crypto crash of 2018? Do yourself a favor and get ahold of some bitcoin, or any of the top 10 coins right now, and HODL. Yes, amidst this downward spiral, hold on for dear life! Maybe read up on how to do technical analysis too, but that's all extra credit. Now is a fantastic time to buy in, and hopefully history will repeat itself by slingshotting up to high prices again.
Thank you everyone for reading, and if you have any suggestions, comment below!