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RE: Bitcoin down, "bad" news, what should you do?

in #cryptocurrency7 years ago

Don't put all your eggs in one basket

That's true, diversification is good, and there are some interesting projects in the cryptocurrency space. I do own some Litecoin, Ethereum, Ethereum Classic, Monero, Dogecoin and Steem, of course. They are currently offering something that Bitcoin can't do, and have room for improvements. However, with layer-2 solutions being developed every day, Bitcoin will replace all the other coins, sooner or later. It's all up to you: what do you want to do? Do you want to make money (I mean fiat money) or do you want to earn more Bitcoin? Your investment strategy should be based on that choice.

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hallamhope, you can look for places on telegram, there are some groups where they give signals, I would not suggest you to go day trading yet. Just study trends, read articles, watch videos, get the basic/intermediate education and then you can start to contact people involved in this sort of trading.

fede93g: I think it is good to have a bit of everything and to be specialised on downtrends to be able to buy low. Patience and study of coins and their background is a good thing, to understand when and how is good to get into these. Rootstock won't come any soon, I am sure about that and if it will come, there will be a long testing period full of glitches and bugs. Don't forget about vulnerabilities a coin can have if its blockchain is vulnerable by adding a new characteristic to it. I would be precautious with these things. To understand better and to be able to decide between bitcoin or fiat, or cryptocurrency or fiat, as you like, there is one important thing: You always have to have some income (fiat) to be able to pay your bills, but then you can build up your strategy on Bitcoin (to get more of them). It is up to you, but even if you want more bitcoin, it is important to have fiat too. For example now, it is ideal to invest in from fiat money to bitcoin. This is why it is good to use all "financial" potential for your portfolio growth.