The Story: Bitcoin drops! Let’s prepare for the next bull run
Bitcoin and the cryptocurrency market in general took a huge hit in mid January 2018, with the total market cap dropping from around $750 B to under $450 B. This happens periodically, as the young market sees new media attention and new money flooding in from hobby investors and big institutions.
If you haven’t seen this kind of crash before, if you’re new to the market, this type of thing can seem very alarming, and it might have caught you off guard. For others, this is just part of the natural cycle of an emerging market where high volatility is expected. While newbies feel stick to their stomach watching the Bitcoin rollercoaster, experienced speculators watch calmly and take advantage of the bargain basement prices.
In this episode, Kurt explains the signals to look for next time when the market is getting overbought, including the general sentiment on social media, people getting sucked up in the mania and getting agitated at any criticism. Kurt also explains how this time presents an opportunity, where media attention will likely drift away from the crypto market, allowing prices to consolidate, forming a foundation for the next bull run.
How can you turn this crisis into an opportunity, and how can you learn from it? These questions and more are answered in this bone-rattling, price-exploding, price-imploding episode of … The Paradise Paradox!
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