Bitcoin, It'll Get Worse Before It Gets Better

Investors are optimistic and Bitcoin is currently on the up, but be warned things will get worse before they get better. The beginning of 2018 has gone off with a bang, not in a good way.

Bitcoin has experienced strong volatility, and as a result, it has a cascading knock-on effect right through the market like a tsunami, when people lose confidence in Bitcoin they're losing confidence in the market as a whole.

Being the number #1 coin, it is looked to as a beacon of market health and confidence (save for the occasional mooning low cap alt-coin).

The only smart thing to do during this turbulent period is, hold on and attempt to remain calm until we pass through it.

I spoke about the current situation in this post I recently published titled: Bitcoin Is On Life Support, Is It Time To Let It Die? where I share my thoughts on the cryptocurrency market needing to move away from its reliance on Bitcoin.

In a bearish market, the only way you can lose money is if you sell. Unless you invested in a coin that is a proven scam like Bitconnect, really it is foolish to sell and that is exactly what the bigger players in the market vacuuming up cheap coins want you to do.

One thing people need to be aware of is although Bitcoin at the time of writing this is doing okay, there is the strong possibility within the next week and half that we could see a drop to $6k USD or possibly even less, with strong support around the $5300 USD mark.

Remember, gravity is inescapable. What goes up, will eventually come back down. We'll probably see Bitcoin go up and down a few times before one possible dramatic drop and then subsequent bounce.

Hold tight.