Hey friends I am back with a new article which will suggest you to invest in cryptocurrency or not
After Bitcoin attained its all time high off $5000 it was expected that there is no one stopping the growth of the coin but after China's decision to ban trading on cryptocurrency after 30th of September the cryptocurrency market was hit badly.
The effect of this could continue to effect the market so according to me as an investor I would wait for the market to get stable and then invest.
If you like my article then do upvote my post and follow me.
I prefer to buy in directly after each hit because if it's cheaper than before there is an advantage. The double digit fall yesterday was an ideal opportunity in my point of view but i'm already invested. I have no magic crystal ball therefore i invest stubborn with corrections or crashes because i think long term.
That could be combined with cost average investing, means you buy cryptocurrencies with defined savings plan by you, for example monthly. That's complete emotionless and you take the highs and also the lows of the market. The advantage is that you get a average price and be not completely "wrong" and buy in with all your money at a all time high ($5,000 Bitcoin) and then have to wait maybe years before see any gain.
Derived strategy is also the "King's strategy" in stocks where you invest in the leaders of the market where you think they have a moat and a long term growth potential (maybe 20% each year for ten years, less or more) and if they are hit by bad news and take a correction by 10 or 20% then you invest in steps in the downfall. If you're often driven by emotions that can be a hard time to do so, therefore it's called King's strategy. Each time they reach a new low from the base price (-10%, -20, -30%,..) you set you invest the same amount of money until they reach the bottom. That's also cost averaging because in you don't know exactly when the crash is over, but you're constantly adding up at low prices.
To be honest i'm personally invest often at once if i see a opportunity and wait until i think it's the right time. But the DCA method worked for many because you have a clear rule based strategy without any emotions and that can be valuable in times of FUD like now.
Thank you for impulse to write about!
Yaa bro you are right I should have invested when it was down because in last 24 hours bitcoin has shown a growth of 30% making the price go from $2900 to $3752. Hope to get such opportunity soon.
I think the crypto market offers daily opportunities and also Bitcoin will see high volatility next months and years with the regulation efforts, next fork,.. You'll get your chance! ;)
Yaa bro waiting for the day when I have some money left for investing nd I guess steem is the best platform to earn those extra bugs for investment.
That's kind of a comment that deserve its own post :-)
Nice and really the comment deserved a boom boost..
Thank you! I'll think about that idea @gtg!
When it would be stable, in your thoughts?
Chinese market is trying to find a solution so that cryptocurrency market gets more secured I would suggest you to not invest in cryptocurrency till the market does not get stable once it gets stable then invest your hard earned money to get bumper returns.
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You should invest only in long term . Its much more less risk in it. Its only my opinion :)
Yes fella your advice of investing for long term can be seen it the graph of Bitcoin if once it falls by 20% then too it has the potential to show good rally.
Nice content one!
I like your notes actually: The effect of this could continue to effect the market so according to me as an investor I would wait for the market to get stable and then invest.
If you like my article then do upvote my post and follow me.
Best
Francesco
Thanks @andreolf for your kind words... I know there is lot of things left in me to be improved such as writing big articles and increasing my article content but this good words definitely motivates a person to do good things...keep supporting
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exelent post friend. thank you
Thanks for your kind words @atafauzan79..... Bro keep motivating
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excellent post
Thanks @mmarcano46 friend keep supporting
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STOPAmazing post. please follow me.
Yes @simaroy done
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