Are You A First Time Cryptocurrency Investor?
This is for all the new folks in cryptocurrency on the fence about entering this space. For a long time now i've been hearing about so called experts saying Bitcoin will tank to $2000 range and after a long wait we're closer to $5000 than we are to $2-$3K range.
In a long bearing market scenario there's always a major rebound or two happening but when you take the long view we understand that even $5000 isn't as bad as having to enter at $20000.
It's the new as well as gullible investors who get taken for a ride. We wait on the sidelines far too long and our inaction leads to losing opportunities even if we don't lose any money.
If you don't invest, you don't risk losing funds but you risk not growing it either. Being on the fence has it's downsides clearly!
In recent times I've spoken to some new users who are unable to monitor markets everyday. In these cases they have generally taken a long view and tried to pick up the tokens they want to be accumulating such as Bitcoin at regular intervals whenever they've seen a dip.
This is a good strategy if you can't devote time to analysis. Infact I've employed this strategy many times in the past when I was lacking time. I would set some buy orders and forget about it. In a bear market it's likely that cryptos will trigger some low points now and then. This has allowed me to slowly and steadily increase my portfolio without having to worry too much about wild swings.
See, the point here is that you don't want to feel left out. The bull run of 2017-early 2018 certainly made thousands feel that way. Many burnt their fingers because they stayed on the fence and entered at the top and sold at the bottom just as the following meme illustrates.
FOMO is a real thing in the cryptocurrency markets and you never know when it will kick in. These are markets manipulated by whales, hype and sometimes small news triggers big waves up or down. A long term outlook helps in facing these downtrends.
Invest only that you are willing to lose 100% and play it wise. Be an early adopter and exit when your goals are met or the market is at the top. This isn't a financial advice, just my opinion from my observations and experience growing my portfolio even in the bear market.
If you are a first time cryptocurrency user, what is your expectation for the way ahead. Have you invested already or are you still on the fence about the prices or the markets in general. Please let me know in the comments below. Meanwhile you can also vote on this poll at @dpoll.xyz.
- Yes
- No
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I also lost my all cryptocurrencies value. seems those are value less in India
In 2017 i lose my all my BTC value . Hope again from
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The best strategy is to dollar cost average- buy a set amount every month no matter what the price is
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■ no
as 'm new in this cryptocurrency mrkt.... 'm going to take risk....@firepower sir please correct me if 'm wrong....
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I have only spent fiat on STEEM, or should I say, on an alt coin so I could then us it to buy STEEM.
I'm not so much into the speculative aspects of this as I am the opportunity to earn through writing or some other creative endeavor. I would like the money I do have invested to earn, of course, but what I have there now is pretty much it.
Yeah! I am so Happy with this move even when I was working on Blockchain and they were telling BTC gonna be 0... I am glad to show them the price how potential it has to be a revolution...
Thank You & I really appreciate your effort :-)
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I've been around since 2017
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I got into investing in crypto when the market started to dip on the last bull market, it turned out to be an early entry, but I´m fine with it.
Worst is the feeling of not buying when BTC was trading at a price below its mining cost!! (No Brainer)
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I have been in the cryptospace for exactly two years now.
No one can predict the correct bottom price. It is still low compared to 20k.
Will there be another dip? No one knows.