Bitcoin rollercoaster | Bitcoin Money Man

From a low of $6,600 on March 30, 2018, Bitcoin is poised to hit around $10,000 if it maintains it’s current momentum.

Bitcoin and other virtual coins were higher on Tuesday, as financial institutions consider cryptocurrency trading.

For those who are Hodling, this is good news! Bitcoin was almost $20,000 per BTC last year. If you think that number is doable (again), then Bitcoin has the capability to double, or more.

While China is rejecting cryptocurrency, Malta, in the EU is Embracing it.

Blockchain-Friendly Malta Attracts Another Blockchain Company

Books on portfolio diversification, from Amazon

Meanwhile, here is what is happening in the stock market:

Dow tumbles about 600 points, wipes out April’s gains as stock market stages midday selloff

We are Riding the Bitcoin Rollercoaster!

This information is current as of April 24, 2018. All investments have risk, the author is invested in both Bitcoin and the stock market. This article is information only and not a recommendation to invest or divest. Consult your advisors and invoke your preferred deity when making any financial choices, to get the best advice possible for YOUR situation.

Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond

AND: Bitcoin Coffee Mugs!

The “Dead Cat Bounce”

“A dead cat bounce is a temporary recovery from a prolonged decline or a bear market that is followed by the continuation of the downtrend. The name “dead cat bounce” is based on the notion that even a dead cat will bounce if it falls far enough and fast enough..” – Investopedia

The powers that rule the financial markets, The FED, the SEC, the World Bank, etc., all have one thing in common – they view Bitcoin as “the enemy” (The enemy of the Banks). While volatility rages in the Bitcoin price, any downturn – or upturn is regarded as proof that Bitcoin is a sham or fraud, like the “Dead Cat Bounce”.

Unfortunately for the large financial institutions, Bitcoin is far from dead. In fact, it is making a recovery from recent lows. Is the cat bouncing? You Bet it is. That sucker is going up and down like a yoyo. Count on it.

History teaches us that it takes 20 years to convert a financial fad into a trend, and a trend into an institution. Bitcoin started in 2009, and is a nine-year overnight success. The banks deride Bitcoin, but almost all of them are using the Blockchain technology (the underlying bitcoin technology) for developing low cost and stable transactions. With apologies to the Bard, “Methinks the banks protest too much”.

While the cat is bouncing, you can
1) Enjoy the show
2) Keep calm and HODL on
3) Buy on what looks like it may be a “low”, and sell some on what looks like a “high” (Note: it is generally agreed that no one can “time” the market, but with this much volatility, moving 20% in the course of a week, it could be a worthwhile risk – but don’t “bet the Farm” – know how much you can afford to lose, and keep Maalox handy).

Enjoy the show, Hold your coin and enjoy the highs, while avoiding despair when the price plunges and the Fat Cats project the “End of Bitcoin”.