Today many people are scratching their heads and worried about the price drop in BTC. Currently at $11,480 at the time of writing this article. If you’ve been watching the price of BTC these past few days you would have noticed it dropping steadily. For some, this translates into a “trust” issue of the cryptocurrency however, there’s more to it than that.
Why did BTC Price Drop?
Well, for starters, we have governments trying to regulate the currently unregulated cryptocurrency market. China has announced it wants to shut down crypto mines and close down exchange sites. Why? Because Cryptocurrency is circumventing the need for government regulations and if you understand Chinese government…they are ALL ABOUT REGULATION. Hell, even the mafia requires government approval in China.
Other Asian countries similarly are trying to clamp down on the Crypto Market, however, their efforts will not prevail.
Trying to regulate Blockchain is nearly impossible. Sure, you’ll probably eventually have some sort of VAT tax associated with crypto trading, however, as long as people have access to the internet, there is literally no way for any government to stop the rise of Crypto.
Why the government(s) will try and fail
Let’s take one step backwards and understand the motivation for governments wanting to crack down on crypto. Firstly, [and this is more of a personal view on things], the government is becoming outdated due to new technologies being introduced. We’re finding that machine learning algorithms are less corruptible and more efficient than human regulation. Blockchain has allowed people to do international commerce without any oversight and as you might have guessed it – this scares the living piss out of government officials.
If a bunch of ones and zeros can replace the functionality of human regulation, why would we want corruptible humans in charge of our finances.
For me personally, crypto is threatening the status quo and while they are trying to get ahead of it…the world of crypto has evolved beyond the point of no return. Blockchain technology will only become stronger this year, more industries will weave it into the fabric of their existence and cryptocurrencies like Bitcoin will continue to climb in value. Irrespective of whether China closes down crypto mines or shuts down exchange sites, more people are jumping on the crypto train every single day.
The exponential growth of crypto is higher than the attempts to shut it down. We are currently living in the transitional period between “cash” and “crypto”. Society will embrace crypto trading as the means for exchanging goods and services because let’s face it…banks are simply not doing it anymore. It costs too much, it takes too long and you have to pay exuberant amount of taxes on your exchanges. Crypto eliminates all of this.
Why you should buy and hold Bitcoin today?
Firstly, BTCs price will climb again. Some experts believe it could go well over the $20,000 marker and stay there. That means if today you buy Bitcoin and in a few months it reaches those numbers, you’d easily double your investment. Bitcoin should be your “Gold Standard” in Crypto. It already has a significant infrastructure in place and is the most well-known cryptocurrency on the market.
Of course, don’t place all of your eggs in one basket. Ripple, Ethereum and the likes are also solid long-term holding strategies that will only increase in value over time.
For quick gains, Altcoin trading is where it’s at. Thus, we suggest you keep the vast majority of your crypto in BTC, Ripple and Ethereum, and play the altcoin market for quicker gains. Our HOP Trade groups regularly hit 300%-500% per trade in the altcoin market. We’ll be delivering another trade strategy for newcomers later this week, but if you haven’t joined our HOP Trade group yet, simply click here to join.
That link is our public trade group. We also have exclusive Tier membership packages that provides higher ROI per trade. Feel free to check out our Membership levels and benefits for more information on that.
Nonetheless, don’t worry about the Crypto prices dropping now. Last year BTC experienced a similar scenario and once the dust settles, people will once more start buying a lot of bitcoin. Right now is a great time to buy because over the next few months BTC is poised to grow significantly. Some experts even believe it could hit the $60k marker, however keeping it conservative, we can almost definitely expect it to rise above $20k per BTC.
One strategy could be to buy BTC, the other to trade Altcoin and keep the profits in BTC. Here at CryptoFroggy we can help with the latter.