Is it worth buying Crypto currency in an erratic market? Some will ponder the question over time whilst action takers will reap the rewards.
The time is now to take the jump
When you do nothing you get nothing so where are you at? The Crypto market is making people millionaires every day from small investments.
Retirement incomes you can only dream about could be days away however tread wisely and trade on strength.
Always seek independent financial advice
Remember that no one can predict the future and that investing has its risks as well as rewards. This is a conversation about the market and not investment advise.
Trade only with money you can afford to loose because you never know.
Let the Bulls run and the bears hibernate for another year
A bull market is when prices are rising and investor confidence is high and the reverse is a bear market things are going down hill and will remain so for some time.
We are currently in a Bull market even though substantial corrections have been made in recent time.
I made a million dollar mistake when two years ago I took a sit and watch attitude. Crypto was relatively new and my money short so I failed to buy Bit Coin or Etherium at the time.
I could understand it was the future like Amazon, Facebook, Netflix or many others however I was not sure. I decided to wait which was nearly a million dollar mistake.
This time I have done my research and have jumped back into the future.
Investing is a time based mechanism for most of us.
Off course you can day trade and buy and sell on small movements making minor sums every day however you need some knowledge to do this.
This is a professional game and not for us amateurs wanting a quid.
Forget about the term mining for cryptos because it is beyond 99.9% of us and trading futures is for mind readers that think they have an answer.
Let's face it Geoff Bezos got rich on one share that he controlled, Amazon
Zuckerberg stayed with Facebook and Steve Jobs with Apple. Even Warren Buffet had a myopic vision of share trading that needed to meet strict criterion.
A divided opinion on Block Chain development
Many of the older generation view the crypto market as a fad. Among these is Warren Buffet and the banking industry among many others.
It is different to what has been the way for hundreds of years and change is not welcome.
Blockbuster wanted no change and ignored all the signs that said people wanted something different.
Kodak desired the camera market to remain expensive and exclusive and got steam rolled in the process.
The Taxi industry enjoyed a high income with low service for so long they were blindsided by Uber. They did not want change, however, want and get are two different things.
The FUD industry is in full swing
Fear, uncertainty and doubt advertising is pedalled by those trying to save their own butts.
The tobacco industry perfected the process so well that the market stayed strong for decades longer than it should have, In fact, still to this day it may be a dying breed but profits are being made despite a massive ground swell against smoking.
The fossil fuel industry is currently doing the same thing. It is debunking the global warming myth so that Coal, probably the worst of the bunch , is still used and mined.
The banking industry is set to loose billions if Blockchain technology becomes a normal transport mechanism.
These industries work to their own benefit and actively campaign against anything that will harm their business. Crypto is the enemy.
The heavies are coming
More and more institutions are buying into the new technology. As we write El Salvador considers using Bitcoin as a currency and this will be the start of the rush .
The greatest naysayer of all Warren Buffet is weakening and buying shares in institutions that have a BitCoin base. When he says go the world will follow.
Countries and institutions are joining the growth as the fear fades and understanding grows
The market is Bi-polar
With no disrespect intended the Crypto market has wild mood swings on a regular basis. However it is a long term venture that goes up 200% a year and will continue to do so for a long time.
Therefore you need to ride the bumps and recognise the long term picture without fainting at the odd free fall, or as they say a swing low. We know that a swing high will follow and the trend is upward.
What to buy
The biggest usually remains the best therefore the value is in Bitcoin. It serves as a preservation of value for the long term and should outperform Fiat currency ( normal currency) in the future.
Etherium runs a close second and about 8% of Bitcoin value. The rises of Etherium should be greater however the falls sharper.
Cardano works on the Etherium network and supplies a value transaction base across a wide variety of industries and is worth a look.
The next 5000+ services provide a wide range of options and your research may find great value for you.
These are not recommendations as I am completely unqualified only suggestions to start your journey. ( I hold all three at time of writing)
The opportunity for great wealth does exist but only for the very lucky or those with inside knowledge that get on an early ride. If I had bought Bitcoin when I first had the opportunity my life would be different however that is in the past.
It is a great game however it is probably considered gambling by many and you can lose money, however if you risk what you can afford to loose and cash out your chips when you win the dream may be yours.
Is it worth buying Crypto currency in a erratic market by Peter Hanley
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