How to take advantage of the low bitcoin price
BTC / USD chart. Source
Since november 2017 bitcoin prices are following a negative tendency. Since the all time high at 20'000 $ per bitcoin, the price has dropped under 4'000 $ per bitcoin. The strong drop in prices in the last two weeks has come as a surprise because there were no news to explain it. If you understand chart analysis, you know that the chart was the reason for this drop of around 2'000 $. The construct behind this drop was so clear that it was followed by most traders.
The cheap price is also a chance
Will the btc price drop further? Probably. Will it drop much more? I don't know. The trend has not been broken yet.
... but ...
I've been dealing with crypto currencies for more than 3 years now and I have seen how bitcoin has evolved. You can now do a lot of things with bitcoins that you couldn't 3 years back. Also there are much more people that know about bitcoin and much more that own bitcoin. All the other currencies are correlated to bitcoin prices and bitcoin is still the most dominant crypto currency. If 3 years ago I would have believed it possible that bitcoin could loose all its value, I don't do so today. After the hype, there was a hard landing but bitcoin is far from being over.
We should never forget that the number of bitcoins will be limited at 21'000'000 pieces. So if there are more people needing them and a limited supply, there are huge chances that the prices will go up again.
I think it might still be a bit early to buy bitcoins now. I would wait till the trend changes. But it is a good moment to use the advantages linked to low prices.
How to profit from low btc prices
If you are scared to invest your money at the moment or if you don't have funds to invest, you can take advantage of the places that offer your free btc. Many of these sites pay you in btc but they link their payout levels to the dollar. This means that low btc prices will allow you to get higher btc payouts. At the moment each claim from freebitcoin pays 50 satoshis. Some months ago, it paid 15 satoshis. When I reach the payout level with cointiply which is 35'000 coins I get now almost 100'000 satoshis whereas it was about 30'000 some months ago. Other faucets like moonbitcoin or Faucetcrypto also link their payouts to the dollar.
When making abstraction of the price in USD, at the moment you get much more free coins from sites.
Build a fortune in btc and earn interests
Many of these sites that give you free coins adapted their business model and they offer now interests on your coins. Often you get around 4 to 5% of interest on the coins on their sites, once you have passed a certain minimum amount of coins. I honestly wouldn't put my coins on these sites but I think it is a good idea to leave the freely earned coins there and to collect the interests. What is interesting is that the interests are paid daily so that you can profit from compound interests.
Here a list with sites that pay you coins and pay you interests on your balance:
| Website | Interest p.a | minimum balance |
|---|---|---|
| Cointiply | 5 % | 35'000 coins |
| Freebitco.in | 4-5% | 0.0003 BTC |
| TrustBTCFaucet | 4-5% | 0.0003 BTC |
| Multicoinfaucet | 4% | 0.0005 BTC |
| Swissadspaysfaucet | 4% | 0.0005 BTC |
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