Cryptocurrencies had become the trendiest investment today. It’s not like cryptos had just started a year ago, the truth is that cryptos already existed for quite a while now. It was definitely not a “one shot-big time” experience as the pioneering years of cryptos had been showered with doubts. It’s only now that cryptos were able to establish trust with investors, countries, and government.
Do you want to invest in cryptocurrencies? You better be! Let me teach you how to play the game right.
Welcome to another episode of How to Invest in Cryptocurrency! This is a very Important one. In fact there is actually no correct answer here just like with the question I asked earlier today about whether or not Bitcoin needs altcoins in order or fully act like what it represents and you can check out the post here => Bitcoin Needs Altcoins – It Can’t Be The Only Cryptocurrency, What Do You Think?
So, how exactly should one invest?
This is what I learned which is what I want to Share with you so you can possibly adopt it if you believe it’s the proper thing and the kind of thing you wanna do.
Here it is…
Yeah, that’s it and I know it’s completely off what you are expecting except maybe you have read my posts and know how they come. Lols.
But that’s just what it is. You don’t buy altcoins when they are rising and there’s a logical reason for that. More than one reason actually & Here they are…
1. The Price is High
Of course, that’s why you got to know about it. People don’t get to know about performing cryptos until they actually start performing right?
In the same way, you can’t hear about those cryptos until they start making some waves but then, am telling you that this is just not a good time to buy and it’s simply because the price is high. Why buy high when you can actually buy low???
Now that leads us to the second point.
2. Chill… The Price will still Come Down
And indeed this is true. That’s what they all do. They will always rise and fall even in between minutes so when you have knowledge of that, what’s the rush? You find out that it’s actually sense making to wait for these coins to fall a bit or at least settle before you go for them.
3. You don’t wanna Swim over to go Join the Ship at the Destination!
Now this means… You don’t wanna BUY AT A HIGH PRICE when it’s Rising and then…
All of a sudden, it just starts crashing again [like we mentioned in point 2 above]
It’s about the worst thing that can happen to you… Selling off your Bitcoins to get an altcoin and the next day, it’s falling in value.
AT the very least, you’ll be stressed emotionally and physically because you’ll wanna sell it again and buy Bitcoins! Trust me, you don’t wanna be doing that.
Hey, I DON’T HAVE THE ANSWER TO THAT BECAUSE THERE’S NO ONE ANSWER FOR IT.
HOWEVER, I can tell you that buying..
1. When the crypto is not Rising or
2. When it’s falling or
3. When it’s stable
That’s the best time to buy these things and this way you won’t be shocked by sudden surprises in what might come next.
Don’t buy cryptocurrencies when they are RACING UP the hill because they will always come down the valley.
This is an advice and may not always be the best decision you can make in the end especially in cases where the coin just keeps rising and rising like BTC have been doing lately but it’s a way of making sure that you are not MAKING DECISIONS IN A RUSH AND YOU ARE DOING WHAT’S LOGICAL; NOT DRIVEN BY THE IMMEDIATE HAPPENINGS WHICH CAN BE DECEIVING!