I am sure you all have heard of CryptoCurrency, Bitcoin, "Free Money" as they call it. Money that is generated as you sleep. Sounds great right? Who doesn't wanna be in their bed watching their computer make them free money; however recently, Bitcoin has been on a decline. It was hitting over $60k and many investors have been claiming by the end of this year, it should hit over $100k.
No, it's not dead. All Bitcoin and the other Crypto Currencies are going through something called a Bear, where the numbers of those stocks head down for a little bit. And this is something completely normal with all stocks, not just Crypto in specific. To answer the why; basically, BTC went up and hit the peak, and people who were scared to keep holding and potentially lose their growth decided to sell. Once people started to sell, others saw and followed until BTC ended up having a huge decline. And on average, other Crypto Currencies like DogeCoin that follow Bitcoin also went down.
How is this a good thing you may ask? Well, think of it this way, whenever any stocks are being talked about you need to know about value and tricks with stocks. Now I'm no expert but I have been involved with Crypto since back in 2017 when Crypto first surged and I have noticed some things.
What I have noticed is whenever Bitcoin goes down in value, many more people enter the market to try and get a piece of that Bitcoin. 1 BTC is now cheaper and easier to obtain. The more you can obtain at a cheaper price and hold, the faster it will go up and you will make more profit.
Think of it this way. Let's say you wanna invest in Shiba Inu ($SHIB) and for the sake of simplicity, it goes for $1. Now you invest (buy) $100 worth of SHIB and it goes up to $3. Sweet! You just earned yourself $200 more. You now have the choice to hold or sell. Let's say we sell it, now you have $300 in cash, and oh no! That caused SHIB to go down to $0.50 and made it decline. Well if you look at the graph and see it going up and down and wait till SHIB is at its lowest then buy $300 worth of it, you are now doing what the rich investors are doing with the stocks they follow. Cause if SHIB were to now go up, you pretty much 5x'd your original $100 you started with. This is what is currently happening with Bitcoin.
Well, there are many different ways to buy Crypto, not just Bitcoin. You can get a Coin Base account and use that as both a Crypto Wallet and a place to buy and sell different kinds of Crypto; or, you can do the more popular thing that everyone, and I mean, literally, everyone is doing and talking about called mining!
But why Mining? Well let's put it simply, you are reading this article on a phone or computer, right? You could be making money right now, doing whatever, just because you have access to an electronic device. Even cooler, there is a browser out there that is built on the Chrome API that will mine Bitcoin for you at the cost of almost no performance degradation. Without getting too technical, your CPU sells its HashRate to this browser, and in turn, you get paid for that. The more HashRate you generate per second, the more you get. And if you find that your CPU is making a lot of Hash per second (H/s), you can buy their Cloud Service that boosts your H/s by up to 15x for faster mining.
Well, Alex? Spill the beans, what is that program called?
The program is called Crypto Tab.. All you do is download it, sign in with your Google Account, or you can make a new one, but it won't sync your current Chrome saved tabs, extension, or passwords, and that's pretty much it. You turn on the mining speed to max and you are making money. Just like that on pc, laptop, or phone, and using the same google account, you generate a lot if you have all your devices mining together. I currently make about ~$10 a day with my hardware since I have a gaming computer. Also, I won't hide, I did add my mining network link. If you use this link and get set up, you will be part of my mining network. Though, this is a bonus to both of us as we generate more money together than if we did this alone, so it benefits everyone! Woot!
There is another way to mine for Bitcoin if you have some serious computing hardware; however, I won't talk about it here as it gets into way more detail and this article is more for simple explanation and understanding what is going on with the drop in BTC value and how to get started if you have no hardware or experience but want some profit.
Pretty awesome stuff Bitcoin is, using a simple browser called Crypto Tab, you can easily be mining Bitcoin and selling it off for money all at the comfort of your home. Making passive income with the hardware you may not currently be utilizing which that money you now gained could be for bills, or going out to a Starbucks, and no, that's not sponsored, I just love Starbucks. And if you are smart and hold those earnings or put them into a rising Currency, you can profit even more! Happy Mining! :D