The best time to buy crypto is now?
There is no golden rule here, but I can offer you a couple of tips and debunk some crazy popular myths related to buying cryptocurrency. The best rule to follow when you want to profit is not to buy in at the peak of a bubble, you may catch a rising wave here but often you will be too late to profit. Generally, the best time might be when the price is stable at a relatively low level, but how to tell exactly when that time is?
What separated good traders from bad is the ability to decide when a crypto is in bubble mode and when it reached the bottom after falling. It seems to easy when we study past cryptocurrency price charts but is a hard question in the present and you won’t be sure about that, ever. Crypto trading is volatile to the point that standard technical indicators that are helpful with FOREX or stock trading are simply not performing well and are lagging quite a bit.
Buying cryptocurrency - in the hindsight
Many people are saying that Bitcoin is too expensive now and the window to buy it - is now gone. This is a completely untrue and biased opinion. In the past, we have a similar situation where many people did not buy Bitcoin at $100 and then at $1000 or Ethereum at $100 because it seemed to be crazily expensive back then. But sometime later these prices appear to have been a good entry point and now, from the time perspective, it looks like an amazing deal.
Cryptocurrency vs. Fiat markets
The basic principle you should follow - don’t compare standard Fiat markets and investment vehicles to cryptocurrency. Crypto is far more volatile because it’s not regulated by a central bank or overseer. Cryptocurrency is a radically new concept a new emerging technology, regulated purely by the law of supply and demand.
It’s wise to own cryptocurrency even if you don’t believe in it
When trading and investing in crypto be cautious and take some time to watch and plan. Don’t hastily hop in, because there was a dip. There might be another. Also, keep calm and don’t be a weak hand either. Don’t sell too early. We’ve seen just too dips and after every single one of them, Bitcoin returned even stronger. The monetary revolution has just started and the possibilities are endless.
If you're looking for general information about cryptocurrency, crypto news, tips, guides, strategies, fintech, new technologies, trading space, crypto investments and many more? MyCointainer Insight is the place to go. We have it covered! Visit MyCointainer Platform also feel free to sign up for our Community so we can make impact together.
MyCointainer community and I remain at your service if you have any questions
See you soon
Published with the agreement of MyCointainer
Credits photo : https://www.mycointainer.com/