Bitcoin is very volatile and it showed its volatility once again. Bitcoin sudden dump from $10k to $8.5k has confused most of the short term traders about the next move.
This is generally the scenario of bitcoin. When all were thinking that bitcoin bull run has finally arrived bitcoin dumped. Most of the beginners lose the game here.
In the end we will share best way to make huge profits from bitcoin.
Reasons for Bitcoin dump
There are some similar reasons for bitcoin dump as usual.
- Bitcoin Whales & Bitcoin Halving: According to us this is the main reason for bitcoin dump. As bitcoin halving is expected on 18th May 2020, which is around 3 months from now. The bitcoin whales and traders are helping to dump bitcoin as they want to buy huge amounts of bitcoin in this period along with less price. It is surely expected that during bitcoin halving the price will rise.
According to us, this is the only reason why bitcoin dumped. But according to Cointelegraph, Coronavirus, is also a fair reason for bitcoin dump. It also affected the stock market by a huge margin. What do you think is it also a fair reason for bitcoin dump?
What is the next move?
Every time bitcoin dumps or pumps peoples are more excited about the next move. But as it is very difficult to predict that, we recommend that you increase your bitcoin balance day by day through this awesome method.
We are not fond of looking at the chart and doing analyses. We will predict the price with some common sense. Look at the image below.
As we can see that peoples are doing short in Bitmex and Binance are 54% and 52% respectively. In the last hour, the picture is totally different. 53% and 54% of peoples in Bitmex and Binance are doing long.
So according to us, the bitcoin price is expected to take an upward trend. It can move around $9400 in a short period of time, let’s say 2-3 days.
What do you think? Will the price rise or bitcoin will continue to dump?
Making Huge Profits from Bitcoin
So we all want to make profits from bitcoin. But most of the beginners don’t know how to do it in the right way. We have divided this section into 2 parts. One for the peoples who want to invest and one for peoples who don’t want to invest.
- Peoples who want to Invest: Most peoples think that we will invest in bitcoin today, it will rise tomorrow and we will make a profit. They make profits also but this is not the case every time. So you think of long term investment. According to us invest $100 right now and then look at the bitcoin price on the same day next year or two. You will have a huge profit.
- Peoples who don’t want to invest: As all peoples are not capable of investing money at a time this is the best solution. Use free ways to earn bitcoin. Collect as much as bitcoin, no matter if it is 1 satoshi just earn in bitcoin. One day you will be enjoying the money you have earned from the bitcoin.
So what are your thoughts? Will you invest or earn it for free?