What is happening to Bitcoin? Will it burn and crash?

Photo by Pierre Borthiry on Unsplash

Bitcoin and Ethereum are the most valuable cryptocurrencies today. The prices of both are stumbling now, after having reached new all-time-highs. But here is the real news: do not matter when you are reading this, it is almost sure it still can apply.

We heard this very same “news” a year ago when Bitcoin first reached $20,000. In fact, many people bought at those prices… Only to sell at a loss several days later (myself included). Will this time be the same? A year ago, I wasn't sure, but now I am. However, I won't enter any trade this time.

Because you see, my dear reader, the path that brought Bitcoin to this point wasn't an even or straight one, for there were plenty of ups and downs, and as any trader knows, attached to the asset price is your emotional well-being. I am not cut for it, because, together with millions of individuals more, I sell almost always at the bottom (after having bought at the top, of course).

If you came here hoping to hear a tip about the future of the price of Bitcoin, I can offer this instead: you can profit not from trading, but by offering them tools to improve their chances of success:

Writing and selling access to a newsletter giving solid price advice on Bitcoin and/or other coins (also known as altcoins)
Coding a novel indicator that sends reliable buy/sell signals
Promoting offers in this industry as an affiliate

It seems to me that the higher the Bitcoin price, the more profit opportunities exist because the public attention gets focused on the subject, many thousands of individuals feel the urge to learn more, and everybody becomes a potential customer for related products.