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Here’s How To Play The Current Bitcoin (BTC) Crash

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The cryptocurrency markets have taken a real beating over the last couple of weeks and especially throughout this week, with many of the major coins (bitcoin, Litecoin, etc.) trading at a more than 50% discount to their price just a few days ago.

This, of course, has translated to a real weakening of sentiment and the confidence that many of the later entrants had in their (arguably late entry) positions has all but dried up. People are exiting the market in spades and the selloff is resulting in a further weakening of price. This, in turn, is translating to more panic and an increased number of market exits and so on and so on.

This sort of action will be familiar to many.

It’s a self-fulfilling spiral that compounds sentiment and it’s essentially the opposite of what caused bitcoin and its peers to run up into the end of last year. Late entrants forming weak and fundamentally inaccurate biases and responding to these biases by pulling the trigger. In November and December, it was a trigger pulled on a buy position. In January, the trigger is being pulled on a sell.

The thing is, now is not the time to sell.

Sure, markets got overexcited at the end of last year and some coins ran up farther than they perhaps might have done if the crypto space had of remained under the radar. Sure, the entry of a futures market and the concurrent wave of media coverage that came with bitcoin shifting into the mainstream consciousness perhaps created a buying frenzy which, in turn, pushed prices above and beyond sustainable levels.

BTC Daily Chart

BTC Daily Chart

When this happens, however, we generally see a correction, a bottoming out, some degree of rationality return to a market and, in turn, a return to the overarching trend which, in this case, very much remains to the upside.

People forget that Bitcoin (BTC) was trading below $900 this time last year. Litecoin (LTC) was at $5 twelve months ago. Some of the more functional tokens, things like Ripple (XRP), were trading for fractions of a penny. Many didn’t even exist.

What we’re trying to say here is that the vast majority of coins that exist in today’s market and that are down circa 50% or so on early month January highs remain up thousands of percentage points on their respective twelve-month pricing.

Put things in perspective, then, and you see that this pullback is a natural correction on an overheated market and one that simple serves up a long overdue return to sensibility, as opposed to any indication that the cryptocurrency run has come to an end.

For those who need a bit of persuasion, look at this space as if it’s a thirty-year trend, a long-term technological shift. We’re less than a decade into it and while exuberance led to the space running away with itself a little, the excitement is now reigned in and the industry can resume on the path towards changing the technological (and indeed, global industrial) landscape of the future.

Bottom line: let the panic sellers exit their positions cheap and, if you’ve got the capital, pick up some cheap coins as they unload. When things return to normal, the same sellers will be scrambling to buy back their coins and will be forced to do so at a premium to the rice at which they’re unloading them right now.

We will be updating our subscribers as soon as we know more. For the latest on Bitcoin, Ripple and Litecoin, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.


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Bitcoin

Trusted Crypto Tumbler To Protect Your Wealth

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Back when Bitcoin originally emerged, over 11 years ago at this point, cryptocurrency transactions were believed to be fully anonymous. This belief stuck around for years to come, but today, we know that, in most cases — this is no longer the truth.

Since the invention of blockchain explorers, it became possible to track every Bitcoin transaction, all the way back to the genesis block. This came as a part of blockchain transparency which promises to eliminate corruption, theft, and other such issues.

However, there is still a need for a certain level of privacy, as people like to keep their wealth to themselves, and not let everyone know how much money they have, or how much they sent for whatever purpose. This is why many are now using crypto tumblers, or mixers.

What do crypto mixers do?

As the name suggests, crypto mixers/tumblers mix up the coins in order to hide/disguise/make it difficult to discover where the coins came from. Things like the amounts, transactions, and wallet addresses to and from which the coins travel are fully traceable, which is why tumblers exist.

In a way, you could say that mixers can add an extra layer of privacy while using Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. There are many Bitcoin mixers Continue Reading

Bitcoin

5 Best Places to Bet with Bitcoin

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It seems like BTC is always making headlines for one reason or another.

When the market points towards bullish behavior Bitcoin is all the rage. When there is so much long action (going on right now) and then the price plummets, BTC also dominates the headlines. The same goes for legislation and when any new crypto product or platform comes out. It’s always compared against BTC.

So with BTC fever in full swing, sportsbooks around the world have adopted digital currencies as one of their main forms of funding accounts and paying out winnings. And with sports betting legalized in states across the USA, both BTC and legal online gambling are in the limelight. 

But where are the best places to bet using BTC and other cryptos? Furthermore, why would you want to use BTC, LTC, or Ethereum in this manner?

The Why

The principal reason why you would want to use cryptocurrencies in your ‘sports investing’ ventures is speed, cost, security, and bonuses.

When you use cryptos like BTC (BTX) to move money in and out of your account. You bypass the standard centralized banking system which drastically improves on both the speed of the transaction and the cost of the transaction – this is especially true with payouts. 

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Bitplaza Inc Introducing Cryptocurrency to Retail

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Even though influential companies are not ready to validate cryptocurrencies as a stable form of money, Bitcoin is becoming a more frequently used currency daily. There is a rising number of companies that accept Bitcoin for the purchase of their products, validating it as a spendable currency around the globe.

Bitplaza Inc took the next step into technology and commerce, providing customers with a platform where they can spend Bitcoins for their needs through a mobile device. It opens the opportunity for companies and brands to list their products in exchange for Bitcoin, which will give more credibility to the coin.

What is Bitplaza?

Bitplaza is a shopping app that belongs to a retail company called Bitplaza Inc, located in Pennsylvania. The app is available on both Google Play and the Apple App Store. Bitplaza allows anyone globally to purchase brand new items with Bitcoin. The app has a wide variety of products to buy online, from electronic devices, video games, even groceries. The products that can be purchased from the app range from popular brands such as Sony, Starbucks, Adidas, Apple, and many more. The Bitplaza team is always adding new products to the shopping app, making more items available to be purchased with Bitcoin. The app covers a broad range of products for the different needs of the…

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