On October 12th, 2009, Martti Malmi sold 5050 Bitcoin for $5 and that tiny transaction, as insignificant as it was to everyone else, put a price on Bitcoin. It was the first time that Bitcoin actually had any value in the real world.
Today, the world’s first and dominant cryptocurrency is worth $8300 each, which is an appreciation of 842 million percent in value from 10 years ago. At its peak, a single Bitcoin was sold for over $20,000 so it is not a myth that investing in Bitcoin can indeed be very lucrative.
Compared to conventional markets, Bitcoin is a highly volatile market where prices can fluctuate at an extremely fast pace from one direction to the other. The heightened volatility is what makes Bitcoin very profitable to trade when a trader buys and sells at the right time.
That, of course, is easier said than done.
When met with volatility, traders often incur huge losses by either panic selling near the bottom of a correction or fomo buying when the market is near the end of its bull run. These emotionally-driven mistakes can be avoided if a trader gets an unbiased view of the larger trend that our premium forecast covers, the kind of information that fund managers are very tight-lipped about and prefer to share among themselves.
To prove our point, let us take you through a real-life case scenario that happened about a month ago. As you probably know, the Bitcoin price took a huge tumble recently, shedding nearly $2800 in value during the final week of September. The steep correction took everyone by surprise and as you can read from the news headlines (below), the media could not make any sense of it and called it a “mysterious flash crash”.
That mysterious flash crash, however, did not affect our members at all and here is why.
Back when Bitcoin was trading at $10200 on September 17th, 2019, we shared a forecast with the following chart in our members’ channel and told our traders to brace for a 20%-25% plunge soon.
As illustrated in the above chart, we were anticipating the market correction to bottom out somewhere between $7600 – $7800 over the short term.
Now if you look at the same chart again today, you can see that the Bitcoin price has indeed plunged nearly 25% and made its way down to our targeted areas before bouncing back up.
Evidently, our traders were informed about the crash well ahead of time so they had ample time to decide – whether to avoid loss by closing their long trades, reduce the size of their portfolio, capitalize on our forecast by shorting the market or buying at our targeted areas – whichever serves their best interests.
This is why having good technical analysis is essential to every trader. One must bear in mind that while technical analysis can’t be right all the time, it does work most of the time.
As a premium member, you can take advantage of our expertise and experience to gain a clearer perspective of the market you trade even when it is often uncertain and impossible to predict. Go premium now!