What’s Driving the Prices of Crypto? Time to Buy?
If you like to gamble at Australian online casinos using Bitcoin or other cryptocurrencies, you may be in an interesting dilemma over the last couple of weeks. Select cryptos have been experiencing a ton of variance and some of you may be considering getting out of crypto.
For those that are not yet into crypto, you may be wondering if now is the time to take the plunge. Today, we will take a look at some of the factors that are influencing the current craze and whether you should go all-in or fold.
Dogecoin Prices Are Pump and Dump Influenced
Dogecoin is the little joke crypto that could, but lately, it is less of a joke and more like a windfall for those that have been HODLing since the crypto was at .002. The coin has been as high as .08 at times and is presently bouncing between .03 and .05.
Doge commercial!!! @elonmusk#SuperBowlCommercials #doge #DogecoinToTheMoon #dogearmy #dogecoin #dogecointo1dollar $doge $rsr #cryptocurrencies #CryptoNews #cryptocurrency #Binance #btc #Bitcoin pic.twitter.com/LYmYmfEmo4
— Grant Conder (@ConderReport) February 7, 2021
If you have a ton of Doge that you’ve been sitting on for a while, now is the time to dump it and take your profits. This reporter did so and turned a nice profit. I will also be getting back in once it crashes.
Oh and this crypto will crash. It may take a few more weeks, but it will be a sub-penny crypto again. Don’t make the mistake of getting in now and regret it a month from now. If you are not already in this coin, don’t buy-in.
Bitcoin – Could Go Either Way (Like Usual)
For the old school Bitcoin HODLers, some of you have probably already done some profit-taking. BTC is jumping between 33k and 37k presently and many are wondering whether we will see another spike or we will finally see the anticipated dip.
My prediction is that we may see the crypto hit $40k once again before the big dip we’ve been waiting for. If you are not already in BTC, wait for it to dip before you get in.
Unlike Dogecoin and certain stocks that have been experiencing massive variance, the Reddit trader crowd doesn’t seem to want to gamble as much with BTC. The only way we see another massive spike in the near future is if we hear some major news connected to institutional investors and Bitcoin. Otherwise, be ready for $20k Bitcoin, probably by mid-March.
Litecoin May Be the Safest Play Currently
If you are looking to get into a coin with growth potential and that has a bit of stability, consider Litecoin. LTC does not have the massive volatility of BTC, BCH, ETH, DOGE, or other coins. At prices ranging from $130 to $145 per coin, you can get a few coins and HODL for the future.
This is why businesses will not use bitcoin or Ethereum for payment.
This is our coinbase commerce account where we accept bitcoin, ethereum and litecoin.
Look at the fees for bitcoin and ethereum!
— Master⚡️500k BTC 12k LTC 2021 (@MASTERBTCLTC) February 7, 2021
LTC is cheaper to use, transmits faster, and is more of a utilitarian coin than BTC or other cryptos. If you are not in crypto and don’t want to put up with the craziness of BTC, LTC is a great alternative. As always, you can convert your LTC to BTC or other cryptos.
Don’t Buy Into Hype
If you look at the stock markets around the world, you will see a lot of people losing their shirts over buying into stocks that are overly hyped. The same is true for cryptocurrency. When BTC is booming, you will see people down tons of money into it. They then panic sell when it crashes.
You should be doing the opposite. Buy Bitcoin when it crashes. Use BTC at online casinos to earn more while it is lower and then HODL until it bounces again. Crypto is cyclonic. It will spike and then drop and then do it all over again. The drop is coming, so plan accordingly.
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