Seasoned Crypto Investor Could Still Earn a Porsche in a Day despite the longlasting Bear
2018 has seen more sideways and downside potential in the cryptocurrency price due to tightened regulations, sluggish retail demand, hesitation from institutions and declining global economic.
Bitcoin is being inactive around $6,500, most altcoins are plunging even to zero, and stablecoin USDT is still struggling to recover its dollar peg. It seems we’ve again been in a crypto winter.
Bitcoin is arguably the most lucrative investment in history, surging 18,000 percent last year alone. The long lasting sluggish is scaring off most unqualified crypto investors, while those with strong belief still hold on there.
“The winter actually has little impact on us. The more it drops, the more we could earn.” Said Zhang Dazhi (not his real name), cofounder of a blockchain project committed to underlying technology development.
Most blockchain companies are also engaged in asset management, particularly crypto asset. Zhang said their earnings are not bad with annualized interest reaching as high as several times.
“Though outsiders have deep misconceptions about blockchain and blockchain practitioners, thinking it’s an easy way to pocket in money or seeing us as scammers, we’re still moving on. Most companies, especially those engaged in media and game developing, are on downsizing in the sluggish.”
The man said he started cryptocurrency transactions in early 2017, suffering from the bear this year, he could still make a stable 10%+ profit, higher than that of most investment portfolio in the current circumstance. Interestingly, he said he actually lost money in the crypto spike of last year and he believed it is the same situation to most newbies.
“The possibility to make money in the crypto space increases only when you have better knowledge about it. Days ago when USDT crashed, a friend of mine, a seasoned investor who knows this well, earned a Porsche 911 (roughly in the price range of $280,000-$570,000) merely in a day.”
On October 15 BTC/USDT price spiked from 6500USDT to 7500USDT in hours due to massive sell-off from panic retail investors, while some took the opposite approach to swap their bitcoins into the falling USDT, when the stablecoin USDT rebounds, then they sell it or trade it back into bitcoin. Suppose an investor has 1000 BTC at hand, and swapped them into USDT at 7500USDT, when the price comes back to normal, say 6500USDT, he could make 1,000,000USDT barely doing nothing. That is almost 1 million U.S. dollar.
While the premise behind the sudden fortune is chilling down to know it.