Hello folks, fellow fans of crypto!
I would really like to talk about the crazy world of cryptocurrency markets. Well, I am not a financial advisor; nonetheless, having been in the game awhile, I think there are a few things that are worth sharing.
https://img.inleo.io/DQmVwPWuhcPX2bS1tY7AwHYoimTA4ZfNmtWwaC3DTqVDsem/photo-1631603090989-93f9ef6f9d80%20(3).jpeg
Sourcing
And so, let's begin with the basics.
Have you ever noticed how cryptocurrency prices can go up as well as down and sideways within the same day?
This phenomena is normal. Nothing goes up consistently just like nothing does so in life. That is why you do not need to panic when your screen becomes red due to flashing numbers.
Besides this information, one may also wonder “Why do prices fall sometimes?”
Think of it this way: suppose you are climbing a mountain. Can you move straight upwards without stopping for rest?
The same applies to cryptocurrencies. There are times when their prices need to take a pause before they continue rising higher.
But let me tell you something, they are not bad as one could think. Yeah I said it. They keep the market healthy and stop it from overheating. Therefore, when prices start dropping, don’t freak out just know that it’s all part of the game.
And if you are new to cryptocurrencies and you bought when prices were too high, relax.
Believe it or not, this does not mean that you have missed the ship.
You may be thinking about getting started with investing, but don’t worry about missing out because Crypto is a long journey that has only just begun so lean back and enjoy.
Now let’s talk about dollar-cost averaging.
This is a fancy name, but actually very simple in reality so now I will explain everything to you in layman language/terms.
In simple words, instead of waiting for market crashes to buy stocks at their lowest price possible; you can invest regularly with small amounts irrespective of the price levels. It is something like saving money in piggy bank every week which will eventually accumulate into a significant amount without trying to guess the future direction of stock markets or stressing oneself over stock exchange predictions.
Therefore, whether you are interested in popularly known cryptos such as Bitcoin and Ethereum or even exploring other altcoins, always bear in mind that volatility is part of the game. And if you have a long term view of things, you will ultimately win.
If this article was useful to you please don’t forget to reblog or follow it for more crypto tips and tricks.
Bear in mind however that these are my own thoughts and experiences that I am sharing with you for educational purposes only. Thus carry out your due diligence before making any financial decision.
So, have a happy investment journey ahead and may cryptocurrency gods smile upon your choices!
Posted Using InLeo Alpha