The carnage witnessed in the cryptocurrency market this year has left investors licking their wounds. Virtual currencies touched an all-time high in January 2018, but have plunged to wipe out more than $640B in value.
The MVIS CryptoCompare Digital Assets 10 Index is down 80% since the all-time high of January. Compared to this, the NASDAQ Composite Index had fallen 78% from its peak in 2000.
Bitcoin and Ethereum are the two biggest cryptocurrencies as per market cap. The price of Bitcoin fell nearly 70%, from close to $20k to around $6k. This was after its value accelerated 60x in the years leading to the crash.
Ethereum has not escaped the fall either—it shed over 40% of its value in September alone.
Investors who had pumped in money before the start of 2017 have still garnered strong returns. However, people who entered the crypto market post September 2017 have lost a significant chunk of their money.
Crypto investors had placed huge bets on what is still a revolutionary technology in its infancy. But there was way too much speculation coupled with investor hype and security concerns for cryptos to sustain the record levels reached earlier this year.
Bitcoin Was Likened To Digital Gold
The crypto mania witnessed last year was driven by the hope that Bitcoin and other currencies would revolutionize industries with their breakthrough technology. But emerging economies like China and India are still sceptical about cryptos.
Further, the slower than expected Wall Street adoption and tighter regulations have also contributed to this bear market.
Can Bitcoin And Cryptos Rise From the Ashes?
There have been ardent supporters of crypto currencies such as John McAfee who are optimistic about the Bitcoin price reaching even a million dollars sometime in the future. Â In July 2017, McAfee tweeted this.
Bitcoub's low of $1,800+ yesterday simply could not be maintained. In the long term Bitcoin moves above $500,000 within three years. Bets?
When Bitcoin was a part of a spectacular bull run late last year, McAfee tweeted :
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD
Crypto enthusiasts remain unconcerned about this crash and believe that bitcoin and alt-coins will be as revolutionary as top internet companies. Bitcoin though has survived many such declines in the past. Its price fell from $1163 in November 2013 to $152.4 in January 2015.
Many still believe the blockchain tech to be the start of something special but the ride to riches will be more bumpy than smooth.
Once crypto currencies find a way to integrate with traditional financial assets there will be no stopping that bull market. For now, it is time to wait and watch.
Airbnb Experiences: 5 Easy Ways To Make Extra Cash Today
Airbnb is a great way to earn money by renting out your home or apartment.
However, did you know that you can also make money by offering experiences on Airbnb? Here are five easy ways to make extra cash today by creating and offering Airbnb experiences.
1. Offer a food tour
If you love food, why not share your passion with others? Create a food tour experience in your city, showcasing the best local cuisine. You can offer a walking tour or a bike tour, and include stops at local markets, restaurants, and cafes. This is a great way to meet new people and earn money at the same time.
2. Teach a skill or hobby
Do you have a skill or hobby that you’re passionate about? Share your knowledge with others by offering an experience on Airbnb. You can teach anything from photography to cooking to yoga. People are always looking for new experiences, and they’re willing to pay for them.
3. Host a cultural event
If you come from a different culture, why not share it with others? Host a cultural event, such as a traditional dance, music, or art class. This is a great way to showcase your culture and make some extra cash.
4. Offer a nature experience
If you live in a beautiful area, offer a nature experience on Airbnb. You can offer a hiking tour, a kayaking trip, or a birdwatching tour. People love to get out into nature, and they’re willing to pay for it.
5. Host a wellness retreat
If you’re passionate about wellness, why not host a retreat? You can offer yoga classes, meditation sessions, and healthy meals. This is a great way to help people relax and recharge, while earning some extra cash.
In conclusion, offering experiences on Airbnb is a great way to make some extra cash. With these five easy ideas, you can get started today.
If you’re an Airbnb host looking to increase your revenue, there are several strategies you can implement to make your listing more appealing to potential guests.
Here are 10 tips for making more money with your Airbnb listing:
Set competitive pricing: Research the prices of similar listings in your area to ensure you’re offering a competitive rate. Consider lowering your prices during slow seasons or offering discounts for longer stays.
Offer extra amenities: Providing extra amenities, such as a pool, hot tub, or complimentary breakfast, can make your listing more attractive to guests and justify a higher price.
Invest in high-quality photos: High-quality photos of your space can make a big difference in how many bookings you receive. Consider hiring a professional photographer to capture the best aspects of your listing.
Keep your listing up to date: Make sure your listing accurately reflects the current state of your property. Update your photos, descriptions, and amenities regularly to keep your listing relevant and appealing.
Respond promptly to inquiries: Quick responses to guest inquiries can lead to more bookings and positive reviews. Make sure to check your messages frequently and respond as soon as possible.
Provide excellent customer service: Going above and beyond for your guests can lead to positive reviews and repeat bookings. Make sure to communicate clearly and address any issues promptly.
Offer local recommendations: Providing guests with recommendations for local restaurants, attractions, and activities can enhance their experience and justify a higher price for your listing.
Allow instant bookings: Allowing guests to book instantly can make your listing more appealing to those who need to book at the last minute. However, make sure to set clear guidelines for instant bookings to avoid any issues.
Offer discounts for repeat guests: Offering discounts to guests who have stayed with you in the past can encourage repeat bookings and increase your revenue over time.
Keep your space clean and well-maintained: A clean and well-maintained space can lead to positive reviews and repeat bookings. Make sure to keep your space clean and address any maintenance issues promptly.
Implementing these 10 tips can help you make more money with your Airbnb listing and improve your overall hosting experience. Happy hosting!
I was looking around Google for an old article on tax strategies and this five-year old video of myself happened to pop up.
I’m interviewing a tax expert about how real estate investors avoid paying taxesin perpetuity—AND how everyday citizens can do the same thing.
(Real estate—our TEMPLE I and TEMPLE II projects included—has a number of tax benefits savvy investors have capitalized on for years, including Opportunity Zone breaks and 10-year tax abatements.)
There’s the 1031 exchange, of course, which I’ve shared with you guys before.
Just to refresh your memory, the 1031 Exchange allows you to roll over gains from your last project into a new property TAX FREE—as long as said property is worth the same or more.
But there’s ANOTHER TAX LOOPHOLE that can take your portfolio to an entirely new level by splitting your capital gains into MULTIPLE properties.
PS: In our next update, I’m going to break down how real estate moguls get paid from their properties…tax free. 👀 PPS: If you want to learn how to implement generational wealth strategies like this one, you can join our NYCE wealth academy (TRIBE U) here.
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