Bitcoin Pricing is a Ping Pong Ball

Bitcoin Pricing is a Ping Pong Ball – The Charts Give the Proof

On December 16th Bitcoin broke through the $19,000 mark and was hovering just under $20,000.  We were holding off on an article as we naturally assumed Bitcoin hit $20,000 at which point we would’ve published new Bitcoin news.  It’s been getting a little tiresome publishing almost daily Bitcoin pricing articles.  Imagine our surprise to lean that Bitcoin pricing is a ping pong ball.  It bounced up and down and around $20,000 all the next day.

Then more proof that Bitcoin pricing is a ping pong ball the next two days — BTC bounced up and down between the 18s and 19s over the weekend.  This morning we saw Bitcoin at $19,100 then bopping up and down to a current price of $18,600 as I write this article.

Bitcoin Pricing is a Ping Pong Ball

I find these price fluctuations surprising as CME Bitcoin Futures hit the markets yesterday and TD Ameritrade’s own Bitcoin futures trading launched today.  If anything, all of these positive adoptions of Bitcoin to the broader markets should have boosted Bitcoin well past $20,000 and beyond at this point.  My thinking is echoed by Thomas Peterffy who appeared on CNBC this morning.

Bitcoin Pricing is a Ping Pong Ball should be a thing of the past at this point considering that more merchants than ever accept Bitcoin for payment both in brick-and-mortar stores as well as online sellers.  On top of that, Bitcoin ATM machines are rolling out across North America and Europe at a rapid pace.  All of this points to Bitcoin’s rightful place in the global economy as one among accepted currencies.  Within five years I foresee cryptocurrency having little if any distinction over fiat money.  The future of money is unfolding at this moment and Bitcoin is paving the way.  It’s safe to say that the ping pong ball of cryptocoin should stop bouncing up and down and going back and forth.  Fortunately, Bitcoin price fluctuations are much less dramatic compared to the last time I wrote about this.

Buying Bitcoin on a Dip


Buying bitcoin on a dip always works.  The recent dip in bitcoin pricing led to a very serious buying opportunity over the past weekend.

buying bitcoin on a dip

See? I told you so. If you were one of the smarter cryptocoin investors and bought bitcoin at the last dip at about $5900 back on November 12th you would have made some very serious money very quickly. How serious? A hypothetical $1,000 investment in bitcoin three days ago would’ve netted you a 20% gain on your investment in just 72 hours.  In other words you would’ve made about $200 in profit with roughly 2 minutes of “work” in clicking your order to buying bitcoin on a dip then selling it at a peak.

Buying bitcoin on a dip is a smart way to make good money in no time at all.  This is the perfect example of “buy low sell high”.

So when do you know when its time to sell bitcoin at a high? That’s the beautiful part; you don’t.  Bitcoin has an upward trajectory with no end in sight.  Previously we talked about experts’ forecasts on bitcoin pricing being shattered by ever-climbing highs.  Case in point is today’s bitcoin price is on pace to get back to its last known high of $7800 of just last week in no time at all.

The takeaway is not to walk away from bitcoin when the price dips.  The smart thing to do is not running away but buying bitcoin on a dip.  Historically this has been a profitable activity every time it’s tried.  The longer you hold bitcoin after buying on the dip the more money you’ll make in the long term.  How much money? The Oslo college student bitcoin story is famous by now.

The best possible strategy to profit from bitcoin is buying bitcoin on a dip and holding on to it with a long-term perspective in mind.

 

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