Everyone seems to be jumping for the crazy bandwagon of cryptos. Some have their head in the game while others are just curious. Some are in it for the long haul while others are looking for a quick fix. There are a number of reasons why people are dragged into this crypto blackhole. And, whatever link has brought YOU here we don’t care because if you’re here you might as well read it, even if it concerns you or not; a little information never killed anybody.
Whether you like it or not, that’s up to you. But we definitely care about your hard-earned money and would like to advise you on a couple of things before you dive right in!
If you’re in cryptos or planning to go for it, you need to be in for the right reasons.
You know what you’re doing.
By this we certainly don’t mean that you need to be fully prepared for what’s to come. But we know how extremely erratic the market is, at least for the next 10 years or so, there will be endless scandals, gossips and sensationalized news to keep the hype up. You don’t have to fall prey to every one of them.
By being informed you are aware of the BIGGER PICTURE that’s in play. It doesn’t matter what price you got into BTC for, it will be less significant as compared to the sheer potential Bitcoin and the likes of it could grow to. Bitcoin is currently around $6,000 and you would have been happy if you got it for $500 even.
It is a risky business right now and extremely volatile. You need to keep your head in the game without jumping off the roof whenever the market takes its annual dip that can go from 30 percent to as high as 70 percent! The short-term won’t kick till the public comes rushing in.
The mass adoption is important for you to get short term gains from the market. For now, you need to think ahead and perhaps invest for a considerably longer period of time than you were initially planning for. BUT, at the same time, you should be aware this is a short term highly speculative bubble that will pop at some point.
Don’t play the greater fool by hoarding it all in hopes that you will make it bigger than this. The BUY, HOLD, and NEVER mentality are not reliable here either. It’s a game of trading and you will make mistakes or comparative mistakes. You need to trust your gut and be, if not all, then a little content with your investments.
All is not lost because if you’re neck deep in this system, you just need to mold your next steps keeping these in mind. Doesn’t matter how you got here just make sure you’re a bit cautious.