Bitcoin and cryptocurrency markets have slowly calmed down after a massive $ 20,000 fall, and we are currently facing at $ 3,500 stabilization. Bitcoin is moving around this price for a while and perhaps it has touched its bottom after falling, and now it is slowly going to grow before the next bull run.
It is difficult to talk about something that can not be affected, and its price at the end of the year can only be anticipated, but tips for new and old investors are always welcome. In today’s article, read 10 tips on how to invest in cryptocurrency!
10 tips for investing in cryptocurrencies:
- Bitcoin is risky, but far from falling short. Indeed, various large institutions plan to enter the market by the end of 2018, and this could contribute to the sharp rise in the price of the currency.
- oin the local community that casts the value of crypto. That way you will learn from the more experienced ones and help those who are just entering the world of cryptocurrencies. Talk about ideas, interesting cryptocurrencies, because as it is said, more brains are smarter than one!
- Take the risk and NEVER enter the money you are not ready to lose. The cryptocurrency market is very risky because you can become a millionaire in one day and lose all the money the other day.
- 90% of people who deal with cryptocurrency lose out! Do not be a crypto trader, but invest money into projects that are promising and have a good product behind, and a good team working on them.
- HODLl! This is a lapsus that occurred in the forum at the beginning of Bitcoin, and since then HODL is spoken. Simply, you cannot be awake 24 hours a day and follow the cryptocurrency and trade market because keeping the cryptocurrency, in the long run, is more cost-effective than day-to-day trading.
- DON’T LISTEN TO PEOPLE WHO DON’T KNOW WHAT THEY NEED! Today 90% of people still don’t know what cryptocurrencies are and what is blockchain. Don’t listen to those who spread false news about Bitcoin and cryptocurrencies, and can not explain the term blockchain. Research and make conclusions yourself!
- Find a mentor. If you’re new to this, finding a mentor is definitely a great thing. Find a person who has everything you want and who will help you achieve your ultimate goals.
- Always look for new coins! Every day we find new coins on the market and projects in which they serve. That is why it is very important for you to inform about new coins on the market on a daily basis, what they serve to and what is their potential. It is much easier for a coin with a current value of $ 0.001 to grow to $ 1, but a $ 1 coin to $ 1000. It is therefore important to recognize an excellent project at first.
- DO NOT BE GREEDY! If you want to earn, it is important that you gain some profit from time to time. Later you can invest that profit when the price falls again because nothing will grow forever. As it says, buy low, sell high. The average duration of Bitcoin bull run is about 40 days, and after 40 days of growth, a sudden drop is made.
- Buy when blood is on the streets, even if it’s yours. Shopping in price growth is the most stupid move possible, and 99% of investors entering the cryptocurrency market end up in losing money. When the price is small, then it’s time to buy, even if you’re in the loss.
These 10 tips for investing in cryptocurrencies will surely help you in the following years! If you have chosen to invest in crypto, you can read other articles on our website, which will help you from the beginnings and purchase of Bitcoin to trading with other cryptocurrencies and informing about various projects in blockchain!