Bitcoin Back in Green

Don’t Mind What Anyone Else is Saying! Now Is The Right Time To Buy!

“Buy the dip, sell the News” is a famous phrase in investing which advises investors to buy when the price is low and then sell their investments when they hear about it on the news, and from the looks of it, it appears now is the right time to buy. 

It’s no secret that these past few months the Bitcoin price has been experiencing a lot of volatility with a general downtrend, however, several expert cryptocurrency traders have reason to believe that is all about to change, and that this is the best Bitcoin price point to buy. Here is why. 

The first shout out comes from VaidoVeek, a professional financial markets and technical analyst who specializes in cryptocurrency and forex trading. With over 32,384 trading likes and a reputation that exceeds 41,500 on TradingView, VaidoVeek managed to win the trust of more than 11,183 trading followers. VaidoVeek managed to predict the Bitcoin price on several occasions, including the bump in price from $9750 on September 15th 2019 up to $10944 on September 20th (as shown in Figure 1). 

Figure 1. On the left hand side, the section with the white background shows the graph when the analysis was published. On the right hand side, the red background shows how the price fluctuated after the prediction was published. We can see that the price followed the upward trend as predicted by VaidoVeek. 

VaidoVeek is now expecting another bump in price which is expected to take Bitcoin back towards an uptrend in the BTC price to $7,650 as sjown below in Figure 2.

Figure 2.

According to RSI indicator it also appears that Bitcoin is just above being declared ‘underpriced’, which would indicate that, according to historical data, the price should be higher. If we take a look at Google Trends, we can also see that it’s highly likely we’ll be experiencing an increase in trend very soon. 

Figure 3. This graph shows the interest for the word Bitcoin. After the rally in interest from March till August, analysts are expecting another peak in interest as described in the black dotted line. 

How To Make a Profit

The trick is to buy it now at low a price and sell it when the price is higher. To get started it’s very simple if you follow these steps:

  1. Click the button below to Buy Bitcoin on our FinCEN regulated partner, eToro
  2. Create an account. (You will need to upload ID documents if you’re new to the platform) 
  3. Deposit $350 on to your account with your preferred method of payment
  4. Head over to ‘Trade Markets’ > Select the ‘Crypto’ tab > Click on ‘Bitcoin’ 
  1. Buy as much Bitcoin as you can when it’s priced between $7,750 and $7,790
  2. Sell Bitcoin when it reaches $7,950 – $7,990
  3. Enjoy the profit!

Make sure the following options are selected:

  • The ‘Buy’ option is selected 
  • ‘Amount’ set at $500. You can open the trade with as much as you want. 
  • ‘Stop Loss’ set at $50. This means that worst-case scenario you won’t lose more than $50. 
  • ‘Take Profit’ set at $3500. This means the trade will automatically close as soon as you make $3500 in profit, otherwise you may close it whenever you want. 
  • (Optional) Set ‘Leverage’ at X2 instead of X1. A risk disclaimer will pop-up, read it and confirm. In doing so you are doubling your trade power from $350 to $700. This comes at a small cost of $0.41 daily and $1.23 on weekends plus added risk with potentially higher losses or higher profits. 
  • When you’re ready click on ‘Open Trade’ 

When you open the trade, you can navigate to your portfolio and there you’ll see how your trade is performing. You’ll note the trade is with a 3% loss due to the spread imposed be eToro, but eventually when the price increases it will turn to a profit. 

Some things to keep in mind are: 

  • Don’t be greedy. When you’re happy with the profits close the trade.
  • Do not wait for the Take Profit to kick in. 
  • 66% of retail investor accounts lose money when trading CFDs with eToro. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.