Why is Bitcoin Underperforming?
As Bitcoin dropped below $30,000/- for the first time in about 5 months, I think it's time that we address the elephant in the room. Since we are unable to understand the concept of cryptocurrencies as a whole we are losing the money. The loss is not a loss till you sell. You are affixing the loss by selling it at a lower rate than your highest earning. Before we begin I think it is important to mention I am not a financial planner/advisor, so nothing in this article suggests any particular crypto. WHY IS BITCOIN UNDERPERFORMING? Since there is not much to presently do but to stare at our screen while our portfolios bleed and so does our soul, I felt like bringing before you a little bit of theoretical analysis on bitcoin performance. Bitcoin has performed well everytime the traders have been able to hold onto its support line. The reason it is important for us to understand the concept of Bitcoin is that the buyers are the ones which make the coins a stronger asset the...