THE “TRADITIONAL” YEAR-START LOW
Discount prices but not for long now
The crypto-currency market had its second “discount” day yesterday (January 17th).
Experts are not surprised. This is not something that never happens. In fact, it’s the opposite. It was predicted to take place in the middle of January.
Bitcoin dropped below $10,000 on Wednesday, Ethereum fell below $900, and the market capitalization had its low, too, at 417 billion dollars.
We checked the last three years to see what they mean by this year-start predictable low point.
In 2015, the low was January 15th.
In 2016, this sudden temporary decline took place on January 16th.
Last year it happened on January 12th.
And this year did not break this tradition, either.
There are two ways of looking at this low point in the market. You can either give in to panic about what is going on, and if you go to mainstream media you can boost your panic easily by reading all the “Did Bitcoin just burst?” headlines. Or you can keep calm and make the most of the unusually low prices, realizing what an opportunity it is to invest now.
Surprisingly, CNBC, instead of joining the rest of the media and talking about some crypto-bubble, came out with positive news on Tuesday, explaining that Bitcoin skeptics were wrong when they suggested that it had no real value.
“Many people think that bitcoin is a bubble, and that's predicted on the concept that bitcoin has no value. But there's reason to believe that that just isn't true,” CNBC’s article concludes.
It’s Thursday morning, January 18th. The market cap has increased by 60 billion dollars, that is by almost 15% in the past 24 hours. As we are leaving the year-start low point behind, prices, just like last year and the year before, have started to climb back up.