Did you just waked up in morning and saw bitcoin and other altcoin tumbling and now at so much low price that even some grass might be priced higher than it.
Seeing that you get filled with ideas as bitcoin will be soon 1 million worth and you be one too and start counting your cash and bank balance maybe there is a little amount in your piggy bank too, well great, let’s just invest in bitcoin and crypto and be a millionaire when bullish rally begins.
Wait …????
Hold off, get some air and cool off your mind, why, because Nothing signals now for a Bullish rally in BTC/Alt the only thing that there is a Bearish rally or just selling off.
let us understand why it is risky to invest in crypto now and why it’s not a good idea.
1. Negative Sentiment.-It is Everywhere from warren buffet, Hedge funds CEO to Creator of LTC, everyone is speaking against Crypto. why. because they might want to buy cheap or just they don’t want people to get out of the game they are good at. Since Media looks up to them and they get published it creates negative waves in common people and cryptos lose some support here, causing not expansion of user base.
2.Bearish Wave – Currently market is in Bearish wave as it once was in bullish wave, People are just selling and selling, at any level there is not much support , some whales are trying to give some fake support but at a selloff they just run away, breaking that support level and causing more panic sell instead, these immature players are costing the market a lot.
3.RBI Ban In India-Just like China India is also a big country with a lot of investor there and some low volume exchange too like zebpay. Central bank of India RBI has asked all Banks to Stop dealing with Crypto dealers and that timeframe ends on 4 July 2018, after that Banks can’t process transactions related to crypto exchanges, for that timeline only some couple of days are left which means people will start selling there and a lot of BTC will come to sell too in International Exchanges and I will Recommend not to buy till this date as there might be massive dump and price tumble of cryptos, so steer clear till.
4.Technicals– Technical of Bitcoin are not much great, I see no big support around near except at 4200-4500 levels which is still distinct but we might see that soon, so technically there is no support to buy bitcoin now.
5.Weak Stock Markets-With start of this year it was expected the first half of this year to be bad for world markets and it did happen, well time is not bullish even in world markets causing lack of funds to be ventured out in Crypto market which needs lots of funds for a bullish run.
so I guess by this time you all know why investing now is not a good idea, that’s right so just hold onto those funds till when the situation changes, and when there will be bullish run coming, You will be the first one to know.
