Cryptocurrencies so what's next?
When do I think the Bulls are going to return? And when are we going to
see the big influx of money and the big change in prices? Why Bitcoin is up and down just about every day.
Well Twitter has made an official announcement that they're going to ban cryptocurrency ads and obviously had an effect on the market today. So for a few days pretty much everything was down. Investors don't know what effect Twitter’s ban will have so they’re scared. I’ll bet some of you sold at a pretty big loss. And that's why there’s a lot the chatter online claiming that all cryptocurrencies are a scam.
There's several reasons why this is interesting. I know who is still very big on cryptocurrency. He thinks that in the short-term ad bans are not the make-or-break for cryptocurrencies. So he’s too worried. I agree.
Maybe it's an opportunity to pick up your favorite altcoins at bargain prices. Take a look at the market - we had a pretty solid week last week. The current atmosphere is nothing to panic about.
This takes me back to the early 1900s dotcom boom and bust. If you picked the right stocks back then: Apple, Amazon, EBay, Microsoft etc. you made a fortune. My advice: Do your research. Before you buy any cryptocurrency try to understand what it’s use is. And what it’s potential could be.
The current crypto market is presenting a lot of opportunities to pick up some coins that have true potential.
In America we are in tax season, in the US tax season prices usually go down. The government is bound to implement new crypto laws.
Like the stock market I believe you have to play the long game. If you try to time the market you’re going to lose.
I know a lot of friends who sold crypto last year, they did not save money for tax purposes, not they have to sell even more so they can pay taxes. For sure tax season is impacting cryptos.