If we say it’s a bitcoin bloodbath then it won’t be wrong. Bitcoin is receiving criticizing review all over the world. Last year bitcoin was one of the most adopted cryptocurrency and due to the high value of this currency which was about $19,000 majority of traders and investors were rushing towards it.
People who were used to do traditional trading like gold and silver, they left it and ran towards cryptocurrency.
Last year nobody knew that bitcoin could be this volatile and they have to suffer from a major loss in the starting of 2018. Many investors bought bitcoin at $19,000 but after few days it plunged to the value of $6,000.
Experienced traders were ready for the loss and they took advantage of a bloodbath. When bitcoin was at the value of $6000 they bought it because it was kind of a sale month when you can have coins on 50% off. In last 3 days, bitcoin has shot up to the value of $9000 which is absolutely profitable for the traders who bought it on the value of $6000.
That’s how you can deal in cryptocurrency and this is how you can be one of the best traders in the market in any field.
In order to take advantage of a bloodbath of any cryptocurrency, you should have enough observation power to see in which direction this cryptocurrency is heading? If bitcoin or any other crypto is at the lowest point then this is the golden chance of buying that coin and hold it until and unless it starts shooting up.
If another crackdown is coming up then you should have enough sense of trading to analyze if it’s going to profit you or not? If any cryptocurrency is at it’s highest point then never ever dare to buy it because it can give you major loss as compared to the profit.