The cryptocurrency market is down 80% this year. Last year, an upbeat momentum in cryptos drove the market to all-time highs. It later came crashing down and burnt significant investor wealth, a freefall that was similar to the dotcom crash witnessed in the early 2000’s.
Bitcoin is trading at $6.5k, which is 70% lower than its all-time high price. Ethereum has lost 40% of its value in Sept. alone and is trading at $203. While most investors will never invest in crypto again driven by this crash, the enthusiasts are excited.
The massive erosion in the crypto market cap has provided another entry point for investors. The hardcore supporters remain unconcerned about this crash and believe that bitcoin and alt-coins will be as revolutionary as top internet companies.
Bitcoin, however, has survived similar declines in the past. Its price fell from $1163 in Nov. 2013 to $152.4 in Jan. 2015. So what will drive the next crypto bull run?
Scalability and application
In the past, the average cryptocurrency bull run has resulted in a 17x rise for investors. The Chief Investment Officer of Pantera Capital, Joey Krug expects the trading volume in the next bull run to reach $2T.
This will mean a 1000% rise in the global crypto market. This price surge will need to be supported by easily scalable crypto networks and an increase in adoption of the crypto tech. Bitcoin’s Lightning Network provides a faster and cheaper option for transfer of funds.
Ethereum, Tron, and Ripple are also looking to develop better systems to improve the speed of processing transactions.
The SEC (Securities and Exchange Commission) has set up a committee to evaluate the introduction of a cryptocurrency ETF (exchange-traded funds). However, while crypto is expected to rise higher once trading starts on a recognized platform, the Bakkt might drive the markets starting Dec. 2018.
Bakkt is an NYSE-backed crypto platform. Intercontinental Exchange which is the parent company of the NYSE will list the Bakkt Bitcoin Daily Futures Contract on Dec. 12, 2018. Microsoft [MSFT] and Starbucks [SBUX] have also partnered with ICE to launch Bakkt.
Microsoft’s cloud solutions will enable customers to buy, sell and store cryptos on a global network. Starbucks aims to make crypto transactions more usable and wants to expand payment options.
This will drive the scalability and usability of cryptocurrencies to a large extent. Now that the big guys are coming in, the crypto markets should start its rise shortly. Experts believe bitcoin’s price to reach anywhere between $50k and $150k by the end of the next bull run.
Airbnb Experiences: 5 Easy Ways To Make Extra Cash Today
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.
For more ideas and tips on how to make money, check out this Airbnb guide inside our academy.
10 Tips for Making More Money with Your Airbnb Listing
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!
How Big Real Estate Moguls Avoid Taxes (And How You Can, Too) 👀
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 taxes in perpetuity—AND how everyday citizens can do the same thing.
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.
So I thought I’d share it with you guys. 💎
You can check it out here.
Let me know what you think. 😎
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.