Eric Dalius is a retired real estate and marketing professional. His expertise in the real estate and cryptocurrency markets led him to outstanding success. His personal profits made it possible for him to retire at a young age. His unique experience in the field makes him a valuable resource for future real estate and technology investors. His personal success with Bitcoin makes him a good role model for new investors. Below, Eric Dalius shares his projections for the Bitcoin market and holds that the market is poised for a bull run after four previous downturns.
Ups and Downs of Bitcoin
As most technology investors already know all too well, Bitcoin has experienced many swings in its value. From its beginnings in 2011, Bitcoin spiked at a rate of $32.00 per coin. The ensuing 94% crash made investors gun-shy. Trading at a low volume, Bitcoin investors were more vulnerable to extreme price changes. In the fall of 2012, the price of a single Bitcoin dropped to a paltry $2.50. People watching the market were discomfited by a 49% decline. This caused many investors who had come in at the ground level to cut their losses.
Bitcoin grew between 2012 and 2013. The price rose steadily through the early months of 2013, spiking at $260. The following downturn was partly caused by an outage at Mt. Gox, then the most popular exchange. The price spiked again in November 2013 due to increasing public visibility and media coverage. This caused a run on the currency among investors who wanted to make easy money. Many more people were affected by the ensuing crash of 87%. The correction in Bitcoin prices was steep at first but continued a total of 411 days.
In 2017, Bitcoin rose to the dizzying height of nearly $13,000 per coin. The following selloff caused many people who were not adequately diversified to lose a large proportion of their worth. The sustainability of Bitcoin was called into question, and the many competitors in the cryptocurrency landscape made it a riskier investment.
Today, Bitcoin is enjoying a resurgence. Many technology investors have observed that the price tends to rise in the last quarter of the year, followed by a correction. This is likely the cause of the steep increase in prices between summer and early winter. Bitcoin prices have begun to level off as of October 2018, exhibiting less fluctuation than in previous years.
Many market analysts believe that Bitcoin has hit its market bottom and will continue to experience upturns in the new year. Bitcoin has continually kept pace with the cost of mining, meaning that the market has stronger fundamentals than ever before. Both miners and investors alike will be able to enjoy greater returns in the market.
Market analysts have pointed to trends which suggest that Bitcoin will grow to $125,000 by the end of 2022. These are incredibly optimistic goals, but with a solid bottom at about $7,000, the market will be able to support greater gains in the years to come. This is a good time to invest in Bitcoin, but investors should continue to be cautious with their money and to diversify properly. Making Bitcoin work as part of a traditional portfolio can be challenging, but together with other cryptocurrency stocks, these perform the important function of taking advantage of current market trends.
Since he invested early in Bitcoin, Eric Dalius was able to reap the value benefits. With his successful investment, he was able to buy real estate in California, Florida, New York, and his first Lamborghini with Bitcoin profits. Staying in the market for several years, regardless of the extreme swings in prices, remained a solid strategy for Dalius.
Eric Dalius encourages new investors to consider putting money in Bitcoin and other cryptocurrencies. These platforms are only projected to grow as the years go by and the technology becomes part of the established securities landscape.