What’s going on in the world of cryptocurrency, bitcoin and altcoin?
Well it looks like Bitcoin is still free falling. Those of you who have just joined the scene, you might be having second thoughts about this whole cryptocurrency thing right now.
Don’t get your knickers in a bunch. Experts I spoke to last night believe that this is still a bull run and what just happened this past couple of days is a result of the market correcting itself. This is a common occurrence when prices rise too fast.
Question on most people’s mind is what caused the dip in Bitcoin value?
The sudden surge in the price was due to investors coming onboard and blindly throwing money into Bitcoin because no one wanted to miss that train. So what you get is a unrealistic inflation of the value that came from speculation and not from Bitcoin’s actual utility in the real world. Early adopters saw the opportunity to cash out and make their millions and they did. Will the price drop even lower? Maybe. Will it crash to below 1 grand? Unlikely. Countries like Japan, South Korea, Finland, US, UK, Australia have already adopted Bitcoin in a massive way, so it’s not likely we would see the end of Bitcoin anytime soon. So if you have money to park and wait, Bitcoin should be something you can consider.
One important point to note is that countries are beginning to study how they can put legislative changes in place to try govern, and possibly to profit, from cryptocurrency. The verdict is still out there and it’s pointless to speculate on that at this time.
In other news, Bloomberg Terminal added Ethereum Classic as the first digital currency. If you were skeptical about cyptocurrency before, this should help bolster your confidence. Here’s another Alpha Mind tip for you today: Zcoin.
Why Zcoin? Zcoin is a cousin of Zcash which is backed by JP. Morgan. Zcash rose to 400plus dollars yesterday and we saw a slight jump in Zcoin as well. And mind you, this was during the time of the ongoing bloodbath. Best part is, Zcoin is only at 16 dollars now. Very affordable for new investors wanting to get some skin in the game. And remember, if you make money, you heard this awesome advice first right here from Eugene Tay, The Alpha Mind. Leave me a comment. I want to know how many people have benefited from these videos.
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This is Eugene Tay, the Alpha Mind, signing out.