“Be fearful where others are greedy and greedy where others are fearful.” — Warren Buffet
So, what did Waren have in mind with this quote? We have interpreted the quote in our own unique way. So, as we are all aware that stock exchange and crypto trading are mutually and essentially connected, we have to grasp the logic behind calculations and statistics. When investors become greedy, the price goes up, however, when they become fearful, the price drops. When others are greedy you must tread carefully and be cautious as the price may plummet at any given point. Contrastingly, when others are fearful, the demand drops which opens up an opportunity for the best investors to seize the moment and go big.
Getting through different crypto phases
Being in the business since the crypto beginnings in 2013, allowed us at CoinPoint to witness BitCoin’s all-time high price in 2017 when it reached over $20k. As a consequence, many investors gained interest in the cryptoverse and wanted to exploit an opportunity suddenly presented to them. In other words, this phenomenon is called FOMO (Fear of Missing Out).
Bitcoin, for example, had sufficient amount of coins initially, and the news surrounding it were mostly positive thus making Bitcoin’s price constantly go up. The Bull Run was pretty much inevitable and many investors managed to catch the wave. However, last year, as the price sky-rocketed to $20k, people decided that it’s time to dump the coins and get the well-deserved cash.
Cloud mining contract as a long-term solution
At the time of writing, the price of 1 Bitcoin is equivalent to $6,408, which for normal investors is a pretty high price for purchase. But, what if there’s an alternative and more enhanced manner of obtaining Bitcoins passively! Yes, better believe it! Cloud mining companies are offering unprecedented rates for mining Bitcoins, and other altcoins very affordably and profitably, that is, in a long-term.
Cloud mining providers such as MyHashing, Genesis-mining, Hashing24, and many others are offering their hardware and mining rigs for a specific price (including maintenance fees). These cloud mining providers are a perfect medium for renting hash rates, up to 1 PH/s normally, and enjoying the benefits from the comfort of your home. On top of that, there are various profit calculators that will inform you how much ROI you can expect by the end of the contract, if the price of the Bitcoin remains at the current value.
How safe all of this is, and is the profit guaranteed?
Before choosing an adequate cloud mining provider in the first place, you must do your due diligence and pick the most convenient provider both financially and securely. We have listed above just a couple of illustrious cloud mining providers that we also have a high regard for. Witnessing crypto ups and downs, peaks and valleys, has provided us with sufficient evidence to believe that the trend from 2017 will re-occur and bring even higher value, not only to Bitcoin, but to other coins such as Bitcoincash especially. If this indeed happens, those who prior invested in cloud mining can expect higher incomes regularly.
Many famous people, among whom John McAfee may be the most persistent, said that Bitcoin value will ascend much higher than ever before. If that indeed happens, and you happen to have a mining contract signed with one of the providers, you will be all set for a very profitable outcome.
So, let’s not neglect the most feared and posed question, “But what if the price of the Bitcoin plummets?” Even though that it’s highly unlikely that such an occurrence will take place, given the current circumstances, it must be taken into consideration. Well, it’s pretty simple. If the cloud mining contract becomes unprofitable significantly, you can pause it, and resume its work once the tables have turned in your favor.
So, have you tried cloud mining yourself? Do you have any recommendations or cautions to suggest to newcomers? Would you like to highlight advantages and disadvantages? Please do so! Share anything you’d like with us, and we will be more than happy to address your query and try to see the bigger picture from your angle as well!
CoinPoint is a premium marketing agency, founded in 2013, working with all scale businesses — from startups, presenting their businesses on a global level, to multinational companies looking for digital transformation & blockchain adoption. The agency stays on top by providing the best services and solutions to its clients around the world.