Bitbay looks like a good buy
Today I think I found a good investment opportunity, but like with anything in Crypto you have to act fast. Today it is a good investment opportunity. Tomorrow it might explode and be too late.
Bitbay is aiming to build an eBay style decentralized Marketplace. For anyone that sells stuff on eBay, you will know that eBay's rules and fees have made it really difficult to make money on their platform. Between eBay fees, listing fees and Paypal fees you often have to give up 15% of your sale price to them. This makes it very hard for small businesses to generate a reasonable profit.
Right now Bitbay has a market cap of just $257 million. To put it into perspective for you how much potential there is to make profit on this investment... eBay has a market cap of $42 billion. If Bitbay can capture a small % of the market this will be a profitable investment. If Bitbay can capture a sizable share of the market this investment could be life changing at the current market cap.
From a business perspective I think this is a great investment for three main reasons:
1. For a long time now both customers and sellers have been frustrated with eBay. If you go online you'll see many sellers frustrated by the fees and many buyers frustrated by how difficult it can be to find what you are looking for. Every year eBay lose market share to competitors like Amazon. This is the perfect storm for a new, disruptive business like Bitbay to come in and kill an old giant.
2. The people in the crypto community are passionate about crypto. If decentralized crypto marketplaces open up, people in crypto will choose to use them over a centralized marketplace like eBay or Amazon. This will mean that a business like Bitbay won't have to work as hard or spend as many marketing dollars on customer acquisition. The total amount of money in crypto right now is approaching $1 Trillion. That is a hell of a lot of people that may choose to buy and sell stuff on Bitbay.
3. Bitbay is currently only on one major exchange which is Bittrex. When it gets added to more exchanges it will inevitably increase in price.
4. Bitbay also has a lot of news and releases coming up between now and June, which will keep the price moving upwards over the next 6 months...
The chart of Bitbay is also looking excellent. As you can see below we have experienced a huge pullback in the last day from a previous high of 3070 Satoshis now down to 1500 Satoshis. This is a huge pull back, which means we can buy in at a discount. However... The more encouraging part of this chart is the increase in volume. As you can see below, the red and green bar chart volume indicators are much higher over the last few weeks than they have been in the past. This means that more people are starting to buy and sell Bitbay. It is a sign that more people are learning about it. As more people buy and sell Bitbay the price will inevitably increase.
Like I always say, nobody know what will happen in the future. It is important to do your own research, but I have invested in Bitbay and it looks like a very good opportunity to me. This is one of those projects that could easily double in value at any time.