Bitcoin is crashing… stocks are crashing…. Buy the dip!
Investors are getting slaughtered right now, not just in crypto but all over the board, almost all assets are down in 2018 but this is a natural pullback after everything went up so rapidly in 2017.
Portfolio Builder is not changing it’s positions at all today, despite a Bitcoin Cash meltdown last night, cutting t’s value in half for a few hours but rebounding this morning. The market has absorbed the selling and may finally have hit a 2018 low last night.
People have panicked. But there’s no fucking need. We’re in a bear market. They suck, yes, and not like a hooker with no teeth. But I’m 73 and have seen this dozens of times in many markets. Bear markets are like Winter. It’s always followed by a glorious Spring. Fucking relax.
— John McAfee (@officialmcafee) November 20, 2018
I’ve always been vocal about not knowing where Bitcoin price will go, because no one really knows.
Last year, in 33 days, BTC went from $6k to $19k. Crypto is highly volatile and unpredictable. If you have confidence in the long-term growth of crypto, patience will be rewarded — Joseph Young (@iamjosephyoung) November 20, 2018
I’m at a crypto event with reps from the Bank of England, HM Treasury, FCA, Ripple, and Prime Factor Capital. You think crypto is going away? These people are discussing how to implement it now. #crypto #bitcoin @ripple @bankofengland @TheFCA @hmtreasury
— Tim Copeland (@Timccopeland) November 20, 2018
Josh Rager who’s been predicting “maximum pain” has even started buying the dip.
So, I haven’t said this in a long time
But because $BTC hit in my buy zone I’m actually buying in this area Not “all in” but R/R is too good IMO People have asked me to share when I finally buy some – there ya go This is for long term investing — Josh Rager (? Crypto) (@Josh_Rager) November 20, 2018
While our losses in crypto are tough to swallow right now, it’s happened many times in cryptocurrencies and even Binance’s founder bought bitcoin at $1100 after selling his house to watch it immediately crash to $200, he held and in the long run prospered.
The price is still at $4,600 and $8 Billion dollars flowed through Bitcoin in the past 24 hours. Bitcoin is alive and well. The biggest loser this week is a well known website Optionsellers.com that went bankrupt yesterday. All 290+ millionaires who had hundreds if not millions of dollars invested with optionsellers.com just lost more than 100%”.
Over in Europe the entire banking system is in crisis and now down -28% in 4 months.
Dow Drops 500 Points – Back Below Key Technical Support
Warren Buffett’s #1 Position Is Getting Hammered, Apple.
The only cryptocurrency holding its ground right now is Ripple.
Bond market is getting hammered and for the first time in over a decade 1 year bonds are more attractive in China!
Deutsche Bank says 89% of all asset classes it tracks are negative this year – the worst year since 1901. Total global debt back in 2008 was about $173 trillion, worth about 280% of GDP.
Today total global debt is $250 trillion, worth about 320% of GDP. There is a tsunami of money heading towards cryptocurrencies as the underlying reason they exist continues to grow rapidly. Even just $1 trillion flowing into it would bring the market cap up 750% which will more than make up for the drawdown we’re having to stomach today.
Right now is the time to buy, the blood in the streets, it’s the best strategy in the long-term and right now there’s screaming deals on tech stocks and crypto.