Bitcoin Broke $15000: Things to Note as we Enter the Bull RunNovember 6, 2020
Bitcoin’s recent price movements are beginning to mirror the surge in the fall of 2017. The buying frenzy is on. Getting some bitcoins in your wallet seems to be the best idea since it is booming. Maybe by the end of the year, we may be seeing another All-time High. The expectations for altcoins will be high now too since everyone is waiting for Bitcoin’s price to solidify and have support above 15000$ before the altcoin bull run starts.
The news about PayPal’s crypto inclusion seems to be the start of it all. Central Bank Digital Currencies (CBDCs) came along at the right time as governments are pushing their research arm towards that direction.
But, for those who are witnessing this season for the second time, it is a time when the most vulnerable hodlers get scammed hard. The bull run in 2017 served as a magnet to market diluters. The crypto space saw an influx of low-quality projects that are after investors’ funds. Fake news dominated Twitter as many presented their opinions about start-ups as facts. This led to the 2019 market crash. It left many investors stranded, money was lost.
Sydney Ifergan, the founder of The Currency Analytics (TCA) news platform, began dissecting the facts and saw a huge amount of money was lost because of fake news amongst many other causes such as impatience, lack of thorough due diligence, etc. He, because of this, built the TCA news platform as a haven to fight fake news, present facts as facts and opinions as opinions.
The signs have been revealed and that time has come when there will be an influx of scammers, fake projects, and opinions presented as facts. The Currency Analytics is set to fight against fake news by presenting readers with the REAL news. Part of its responsibility is to help readers understand how to keep themselves safe at a time like this.
Just like Anthony Pompliano (@APompliano), co-founder and partner Morgan Creek Digital Assets, tweeted:
Important message as we enter the next Bitcoin bull market:
- BTC is very volatile
- You can lose all of your money
- Only invest what is ok to lose
- Twitter is not investment advice
- Don’t buy BTC with credit cards
- Keep low time preference
- Do your own research
It is important for everyone considering investments in cryptocurrency first to understand that Bitcoin and cryptocurrency generally are volatile. With crypto, $1 can become $1000 in no time and $1000 can become $0.0005 in no time. Be cautious and do not invest more than you can afford to lose.
Do not be greedy as to think you want to get rich quick with a Ponzi scheme and get out quick- it might be disastrous. Only take information from the right source (official accounts and channels of projects and news platforms like TCA). Do not take the opinions of anyone anywhere as facts. Cultivate the habit of confirming information via the right source before acting on them.
Sydney Ifergan also tweeted:
“Don’t trust anyone, do your own due diligence, do not trust any #influencers or #Traders , they are just spreading fake news to earn more money on you… only few are trustable and same for #news too many fake information around.. Follow @ThecurrencyA for real news.”
Stay up to date with the REAL news via The Currency Analytics platform. Cultivate the habit of thorough due diligence. STAY SAFE!!!