Hello and welcome to AltcoinXP, my name is
Anthony.
and today I wanna tell you why I believe crypto-currency
prices will drop.
But before I do, today is Christmas.
So I wanna wish everyone a Happy Holiday.
I hope all of you are enjoying time with your
families and not getting into too many arguments.
I think it’s easy to get into arguments, because
at the bottom of our hearts, we care about
our families and want them to be happy and
healthy. We wanna see what’s best for them.
So we try to reason with them to see our point
of view, only to be met with them pushing
back with their own beliefs and intensifying
tempers.
Families are kinda weird like that these days.
With the internet and living in a multi-cultural
society, we’re exposed to a lot of different
views that we really haven’t considered before.
Views that give us hope towards a brighter
future.
But not each family member has the same exposure
or experiences we’ve had.
Not everyone will see the promise of crypto-currencies
bringing financial freedom, the pain the government
brings to our families, or why your niece
shouldn’t be dating that tattoo covered biker
who’s 10yrs older than her.
Because they haven’t lived through the hardships
the alternatives have brought yet.
So we want to argue with them to prevent them
from experiencing the same hurt that we’ve been through.
But I think the best we can do is give our
warnings and let each other to learn from
their own decisions and their own experiences.
That’s how we learned, after all.
And any other way would’ve left us hating
the people who try to force their opinions
and beliefs on us.
With that said, let’s get into the point of
this video
#1
End of year taxes
If anyone made substantial gains this year,
it may be wise to take some profits.
At least enough to max out your tax bracket
and not bumping you up into a higher brackets.
Or if you have a loss, it may make sense to
take your loss to bring your into a lower
tax bracket.
I’m not gonna get into the specifics on taxes
in this video, because it’s really specific to your own situations and also I’m not an accountant.
But you should definitely take some time to
familiarize yourself with the tax laws and
formulate your own plan.
They do say, a failure to plan is a plan to
fail.
#2
The posts we see from people encouraging everyone
to hodl.
I believe these posts come from people who
foresee a price drop and are trying to prevent
it by urging everyone not to sell.
They want to market to remain strong while
they take the time to formulate a plan on how they will cash
out.
Or they want to market to remain strong so
other people will see it and continue to buy
in, further increasing the value of their
own holdings.
Either way, they see weakness in the market and are trying
to prevent it.
Which bring us to #3
Weakness and instability in the market
If we look at bitcoin price history, we seen
new highs or relative stability every day
since November of 2015.
There were stints of a few days where prices
dipped a bit, but nothing as crazy as the
dip we saw from $19,000 to $13,000 earlier this month.
If people don’t see prices approaching the
$19,000 mark again, they’re gonna cash out and
Especially when we see a head and shoulders
pattern that’s been emerging.
High, drop, new high, drop, then an all time new high again, and a big drop.
And now we have a low, followed by an even lower low.
In my opinion, the market will see this as
weakness and sell.
That’s how it usually plays out.
But, they’re not gonna be out forever.
They’ll likely buy back in at a lower price.
But that takes time.
Some people will want to buy back in right
away, others will want to wait if they believe the price is gonna
drop even further, and then others will have used their profits to buy Lamborghinis.
But, everything I said is really just all my opinion.
I don’t wanna be responsible if I’m wrong.
Umm, you need to think for yourself and make your own decisions.
That’s how you learn and become an independent and
successful human, after all.
Personally, I sold a small amount of my Ethereum
last week somewhere around the $670 mark.
I’ve been wanting to sell some for quite a while.
And seeing the prices drop so much got to be a bit too risky.
Especially since I believe the prices are gonna drop even
further.
Also the time left in the 2017 tax year was quickly running out.
So I could’ve waited a week to sell, hoping the
prices would go back up, or I could’ve sold now and
removed some of that risk and stress left in 2017.
To understand my decision making process more, you can look
up Regret Minimization Framework, by Jeff
Bezos.
Well, that’s it for today everyone.
again Happy Holidays.
If you liked this video and want to see more videos like these.
Please like, subscribe, and share this video with
Santa.
If you want to donate, you can donate Christmas
cheer by donating Bitcoin, Ethereum, or Dash,
to the addresses both on screen and in the video description.
And lastly, if there are any Elves watching,
you guys should follow me on all the social media
outlets.
Thank you and bing bing.