I have been a crypto enthusiast for some time now,thou I have lacked consistentency,but over the years I have seen people who have carved out good lives for themselves with crypto,either by direct or indirect investment.,as a result I wish to invest in crypto with cash,but with minimal knowledge,so I seek the help of this house in advise on which crypto to invest in currently as someone who is just getting to learn about crypto currency.
If I give you advice it will definitely motivate you to invest in Bitcoin only. Bitcoin is the only currency in which to invest without doubt. But it will not always guarantee you profit unless you can hold it for a long time. So if you are interested in long term investment then invest in Bitcoin. Because investing in altcoins may give you a high profit but there will be high risks which Bitcoin does not have. yes, investing in bitcoin is also riak but less then Altcoins Bitcoin is indeed the best alternative for newbies and for experts. Bitcoin is for everyone and OP will be doing the right decision if he goes through this way on his investment. However, I just fear his minimal knowledge may prevent him from storing his coins safely in a decent wallet, like a hardware Ledger or Trezor one. More or proportionally dangerous to investing in the wrong cryptocurrency, is to not know how to hold it with security. Lack of knowledge will cause a lot of consequences, in addition to him not knowing how to keep bitcoin safe, lack of knowledge also makes him unable to withstand market fluctuations. Investing in cryptocurrencies means we face many risks, from market volatility to keeping our assets safe from hacker attacks. I think he should not rush to invest even in bitcoin, what he needs is knowledge because when he has enough knowledge, investing will become easier. by having knowledge about bitcoin and the crypto world in general, it can minimize the risk of losses due to personal mistakes. many beginners seem to be toyed with price fluctuations, they are easy to panic if they experience wild movements. as the title says it is an investment, of course it is related to the long term, so even if there is a floating minus we have to be patient waiting for it especially if we hold bitcoin |
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For me personally, Bitcoin is the king of the crypto market, just like the collapse of Luna had a huge impact on the market. This is just hypothetical if Bitcoin crashes, then I think other cryptocurrencies and the whole market will crash, so I won't invest anymore.
Actually, I personally still believe and bet on Bitcoin, I also think like you, believe that long-term investment will bring quite high returns.
That's not even a guess, it's a fact. If bitcoin crashes then all of the other coins will crash as well and there is no way around it, the crypto market as a whole would look terrible. I do not believe that it will though, I think bitcoin already crashed and this is all it can do, there is no scenario where bitcoin is gone, it's going to be here as long as we live and I think it's quite important to know that difference as well, going down a lot like we did in 2022 and going down to nothing are two very different things and I believe that we are not going to be nothing. However, I agree that if we ever do, it will be bad news for every single coin. This scenario has happened several times and even some of us have actually experienced it at least once or twice with quite severe crashes but now we can still survive in this scope and actually make ourselves more confident after the several crashes we have experienced. I think when it happens again and again it will still be the same as always I will still be in crypto and enjoy it. nothing has changed about it. for bitcoin, there are indeed many people who are looking forward to buying at a low price, because it is indeed the most trusted coin by most people in the crypto world. this is different from other altcoins if there is a crash, of course many people will be wary of it, and don't make it an opportunity. this is the difference with bitcoin, when there is a crash of course it becomes a buying opportunity. because the cycle is like that, there will be recovery again and new ATH will form |
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All this is very similar to the return of the Cold War rhetoric between the USSR and the USA.
However, this does not mean that they are planning to turn the cold war into a hot nuclear war.
Correct me if I'm wrong but that cold war didn't contain any armed conflict between two sides. It was all "chest pounding" so to speak and flexing muscles. This time it is an armed conflict between Russia and NATO inside a third country as the proxy. Although I agree that suspending START isn't an indication of a nuclear war but there are many other reasons why the risk of one is high. There were a lot of wars in which the USSR and the USA supported two opposite sides. The most famous of these wars is the Vietnam War. Usually the USSR and the USA acted as follows - they supplied weapons to the parties to the conflict and sent military instructors. Including it could be pilots of military aircraft. Of course, a large-scale war in the middle of Europe is a very big risk of further escalation of the conflict. In particular, in my opinion, Poland is psychologically ready to take the side of Ukraine. In certain situations, it is probably ready to send its soldiers to participate in hostilities against Russia. the competition between the two superpowers seems like it will never end, even though this time it is not a cold war, but it raises tensions which in fact the two superpowers have the most vital role. here we can see like showing off strength from all fields, ranging from military weapons to the economy. moreover, gas and oil reserves seem to show that many countries are dependent on Russia, hopefully it will end soon so that people don't become victims |
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I don't know if this is were I can post this fleece, but if this is not supposed to be here someone should help me moved it to the normal board.
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
I think it is right to save your money in bitcoin, as long as you know what bitcoin is and what it has, because many people want to double their money in bitcoin but instead lose money. therefore investment is long term and of course we must study in advance what we are going to invest. but just a suggestion, to keep a little money aside in fiat, because now it's more flexible to meet our needs |
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Over the time, I've seen people wanting to go into trading because they feel or think is a get rich quick scheme but get so disappointed along the process because the result they get isn't what was expected.
Trading is a very lucrative business but also a very risky business as well and as such should be done with so much caution.
What would be your advice for those wanting to trade as a newbie?
for beginners the main thing in learning to trade is to be in a trading environment, so that we can ask a lot of questions about the world of trading. that way we will understand trading strategies more quickly, with lots of experiences experienced by ourselves or sharing stories from other traders. and of course it would be better if someone guides the way we trade before finding our own trading style |
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First blunder he did is that he don't know anything about trading and initiate it like he has all the information about it. The second blunder he made is that he puts all his saving in it. There are large number of individuals who are involved in trading and with these two mistakes they have lost their revenue completely.\
For newbies start point should be minimum and with the passage of time when they understand about trading then putting large sum is not a bad thing but I think that putting your whole saving is a foolish behavior as you know that trading is not a stable.
Trading sometimes gives you profit and makes you rich but on another hand it can also destroy your income and make you poor. So work properly and do not make decisions blindly without any information.
for beginners, doing short-term trading will be difficult, considering that short-term trading is not easy. especially for psychological control which is very difficult for beginners. therefore must be patient to enjoy the process in the learning process. everyone will need a different time to master it, and of course you know better. therefore for beginners it is better for long term investment. and learn about short-term trading with small portions, until mastering it |
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For now, trading and investing can still be an option because both can provide short, medium and long term benefits. And it depends on how good you are at mastering the analysis that can help you know when you can enter the market.
But if you are afraid to trade and decide only to invest because the movement is still unstable and can decrease the price like it is now, you can buy and hold it for a while. And even though the price may increase again later, even to the $30k mark, it still seems like a good price to buy bitcoins since the last ATH was at $60k. So buying bitcoins at $60k can still be considered an investment price.
When I talk at the moment in this case I really mean at the moment, so it is not about this year or for several months. I expect that bitcoin will go down soon enough for short term traders to buy it cheaper and then sell again costlier (it is not an advise, my predictions are not even close to 100%, so I can be very mistaken). So investing at the moment is still good as if you hold long enough less then 25k for bitcoin is a good price, but short term trading has other senses (and I prefer not to play with it as I'm not experienced enough for that). short-term trading is more complex, where we have to create a framework to determine the buying area at the formed support. for the long term I think there is no problem considering the highest ATH is $ 64K, considering that the decline has exceeded 50%, and is the golden area between 50-61 on the Fibonacci line. therefore we must understand very well the purpose of our transaction for the short term or long term, for beginners it is better for long term investment, buy and hold it until you make a profit |
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Todays world's economy is not so good. High rate of inflation and many bad things are happen, also cryptocurrency market seems not so good either. But I think it is better to hold bitcoin rather than fiat as government seems that can't do something significant improvement on economic growth. Unlike my expectations for the world economy, I have good expectations to cryptocurrency especially bitcoin. Bitcoin has a good thing that called a "Halving" where it usually cause it price to rise, while other fiat don't have anything to expect except inflation. I would like to know about your expectations about cryptocurrency, please share your opinion.
I am one of those people who do not have much wealth, my hope from cryptocurrency is to multiply small capital into large capital, so that it can improve my household's economy. of course I have to be determined to set aside a small part of my remaining money to buy bitcoin, and I consider that as a replacement for my pocket money, so that even though there are high fluctuations in its movements, I remain calm, and later the money will double so I can open a business real estate or buying safer assets, as part of diversification |
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Ethereum drops after proof-of-stake.
Source' channelsnews.com
My worry right now is that, is it going to drop worst more than it has already and what are the chances of it pulling up within the shortest possible period?
As am getting the feeling of withdrawing my asset before it gets worst or am I been too haste.
There's nothing to worry about because after ethereum drops it will rise back and it will become more valuable, during bull season most of the coin are rising so we only need to hold and be more patience, because we will not loss if we don't sell at loss and we will surely earn if we have patience it is proven and tested so many times before that those who have patience and can wait then they get a big profit. in investing in trusted altcoins like ethereum, I always don't spend all my capital to buy it. we don't know what will happen next. that way I can buy it back if the price really goes down next, and if the price goes down again then I will buy it in a strong support area, this is different if we buy a new altcoin, of course with small capital and are just to try our luck, because I don't dare to hold onto it long-term, even if it does it will provide a bigger return |
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These are things that we learn at the start, and then sometimes forget about it at times and need to relearn them in the future. But as long as this exists and the results are always the same, we are going to end up with no problems at all. I know that it is not something we should be proud of to make the same mistakes again and again, but multiple times of same mistakes guarantees that you do not make the same mistake again in the future.
We should be focusing on how we could make a profit after we learn that and it could end up with much better results in the future as well, because we would be able to focus on what to do and already know what not to do anymore.
indeed, when we first get to know cryptocurrency, there will be many stories that we can tell. On the one hand, of course, from the story, many have had bad experiences. if we remain interested and enthusiastic in the world of crypto then we can make that mistake a lesson, the main thing is that we understand what was our mistake, and what to do next. but many new investors often repeat the same mistakes, therefore we need good psychological health from ourselves |
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do you think only Bnb, and ethereum altcoin have potential? I don't think so, friends, of course there are lots of altcoins that have potential right now. and even some time ago there was a collapse like Matic and cardano, and that in my opinion is an altcoin that also has potential.
You might have a different opinion but the top ten or the top five have always been the closest to being safe assets as to bitcoin. Going by that ETH and BNB can be given a try if you are having funds to invest in. A load of altcoins are available on the market and you are free to choose from them but since the ETH project has been here for sometime and BNB has been a successful exchange their tokens are in the top, I would add LTC to the list if I could too, because that has also been a resilient project. Every month does not specifically mean the month of a new altcoin, the same old ones will profit like they did, you have to get into them. indeed some altcoins experienced a deep decline but they were able to survive again increasing according to the trend that occurred in bitcoin. therefore it is better to research according to our personal analysis to invest in projects that are based on eth or bnb. but for bnb, eth, and ltc, I think we have great hope for long-term investment, until we get the profit according to the target, I personally will add matic as a decent altcoin reference for investing |
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I still have a lot of USDT in my wallet, I already have ROSE, NFTb, TRX, AXS. My question is any other altcoins that I have missed or should check out?
If I were you, I will not pick up those altcoins for investment, moreover long-term investment. The risk is very high. If you have lots of USDT, why don't you focus on Bitcoin? This is the worthiest coin to invest moreover for a long-term period. Btw, you can also see how some people also buy some ETH and BNB, I think that those two top altcoins may be much better. However, once more, this is your money and you have the decision. But, you can do it wisely and more carefully moreover with the current situation and past experiences. There are some hype cons heading to be shit coins and then dead coins. eth, bnb, matic are decent altcoins to invest in. If I look at collecting USDT, then you can buy it, and if it takes too long to save USDT, then there will be no development if it is an investment tool. I think it's better to split it back into the altcoins that I have mentioned, so that your funds can grow. but back again it all lies in your beliefs and decisions in dealing with altcoins. good luck with your beliefs and the analysis that has been made, it would be better if you believe in yourself |
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But if you only have small bankroll, use small amount of money while you are learning the process.
You can only learn such strategies if you will experience it on your own.
That is true, you will incur losses but should not give up as you won't see your success if you will give up early.
High likely these successful traders have been doing this activity for years before they can say to themselves that they already mastered this task.
There are ways to learn trading even if you have few or little money like doing 'Paper Trading' to avoid risking your money. In trading you earn big and also you lose big, so one must be ready for loses also. Every successful trader today has faced loses in his journey. The best learning is when you start trading with your own money and make decision on your own. There is no master guide in the market that guides you how to become a successful trader. This is something we have to learn on our own. Everyone who is now an experienced trader today started with small money,and they never knew they were going to be big someday,but through constant trading,they have been able to get to the height they are now.Trading is not something you rush into,because it is a very risky game,a game that has to deal with the heart and emotions.Every trader who might claim to have succeeded in trading today,might have passed through so many difficulties,which if they don't tell you you won't. Know,but through developing of new strategies and tactics,one will get through it,and certainly become successful. by compounding, trading with small capital can become big because of patience and thoroughness. most beginners can't wait to get big trading results, so they trade emotionally, without realistic thinking about the market, greed is still firmly attached to them, so they must be released slowly. therefore, as a beginner trader, you must be able to enjoy every process in making transactions and continue to correct every action so that it can be evaluated |
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Since strategy are always changing in trading, what is the relevance of experience? Who would you trust the most for trading tips,
An old trader who has had better days and mostly still relevant because they have a strong reputation for the fact that he has been trading for a while, or would you trust a new trader who is hot in the market and fresh with new strategies?
For me, the one I trust the most is myself, while we can take the trading experience of senior people into consideration for executing trading strategies. but it is from our experience that we can provide a strategy that is suitable for us because it can always be evaluated so that we have knowledge about the will of the market in all conditions. therefore developing your own trading style is very necessary to become a professional trader |
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Holding has always been most person's preferred choices in terms ofmaking investment,because despite the fact that it requires a lot of patience,at the end point,profit is somehow guaranteed if the project that was held is fruitful.Holding has elevated so many persons in the bitcointalk forum,and so many people will always make holding of coin their top most profit.
In terms of comparison,holding is more better because it it is not too risky,while trading is like gambling, something that can take luck for someone to be able to win or make gain.
but holding a major coin would be better if it goes through an indeterminate wait. therefore choosing a good coin or altcoin is highly recommended in investing. The main thing is that we have to be realistic in choosing coins, it doesn't mean we can't invest in new projects, but we can do it with a small portion of capital, so it doesn't affect the health of our capital. because many people tend to want large returns, so they don't pay attention to good money management |
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From what I understand it sounds like the OP is only really interested in profit instead of the technology behind it. Granted that was never a problem and now he needs to understand how the market works for each time frame.
I agree that portfolio diversification is a good option to minimize risk. But at the same time that the OP decides to pick some non-potential altcoins then that's when he has increased the risk of a crash in the long term. Bitcoin is the single most potent asset, while several other altcoin are also good for attention. I understand that altcoin are also profitable instead of just bitcoin, but it just depends on one's interests and investment goals.
Portfolio diversification may work best in Stock where you have so many stocks of same potential. But in case of crypto market there is not any single crypto that is close of bitcoin. That's why bitcoin is still the best option for investment. You may invest small portion of your capital in smart alts that can give you good return in short interval (like Polygon these days is a hit) but major chunk of your capital must be in bitcoin like 80:20. healthy diversification indeed places the most secure coins in the largest portions and other altcoins with smaller portions according to each other's thoughts. that way it will maintain our level of security with a smaller risk. on the other hand by placing capital in some altcoins it will make our profits expected to be greater, considering that the increase in altcoins will usually be greater than in bitcoin |
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Of course this is a difficult decision because we have to sell when the market is down or we have to lose money, sometimes investing makes us ready for all conditions, and my experience is when the market down in early 2022 or a year ago I was happy because I was still selling some crypto assets at the price is higher than now, I once bought at $ 56k, then I sold when the price was $ 38k, of course I made a loss but that's better than holding on until now.
and if only we knew after letting it go and buying for $16k yesterday, then it would be much quieter now to hold on to it. I think that's the risk, and we must really understand the risks that might occur, because in trading or investing we must be able to accept whatever happens with the decisions we make. how can an investor survive, I think because they can take advantage of the moment and dare to take risks with confidence in the analysis that has been prepared |
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people invest calmly, of course, when our necessities of life are safe. if it's money we save for future needs, and you invest then it makes your heart and our minds uneasy, so in the end there is a lot of panic selling, basically a lot of people say to use cold money in investing, and it's true, when the price is bearish, it seems that we are not affected by the situation with our money, because basically the amount of our crypto investment is still the same, it's just that we are being played with by fluctuations
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While I agree that supply control can be abused for price manipulation, you should still and not mix up the terms inflation and volatility as you seem to have done in your first post.
that's just a temporary conclusion for the attentive reader. If disagree, there will be a real conclusion and good opinions from known people. Now if you pick specific points in time you can indeed tweak numbers concerning Bitcoin's purchasing power and argue that it performed not very well, but that is very subjective. Nobody in the world would claim that Bitcoin decreased in purchasing power over a 10-year time period. And those who think about it realistically also know that Bitcoin is most likely going to stay highly volatile for an extended period of time. But especially when you take longer periods of time you will see that Bitcoin is much closer to gold than anything else. Gold had its crash of 45% or something from 2011 till 2016. That is why an investment like Bitcoin shouldn't be understood as a short-term gamble. You can be lucky and catch a fantastic bull run momentum, but it can also end in a catastrophe if you need the money in a few months from now and are forced to liquidate your position.
Yes, a lot of people think that bitcoin is good for investing, but the reality is not, bitcoin is money as a white paper said. ( I don't know why people invest money?) If people think bitcoin as goods, they will hope for a return to percentage profit, whatever the year, they will back to bitcoin as profit. and 95% of people around the world don't really understand why bitcoin was made, and all think now it doesn't fit with satoshi's goals. I agree that bitcoin is like gold, if we hold it in the short term then we can lose money, gold is associated with long-term investments where at least the increase will not be affected by the inflation that occurs. it's just that bitcoin doesn't have a form like gold, even though it actually has other functions as currency. we will experience a profit when we sell it at the right time because of high fluctuations, from that profit it multiplies when converted to fiat currency. and that is why there has been a shift in the function of bitcoin from a tool of exchange to an investment tool. |
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Some altcoins look really solid and have the ability to stay in the market for a long time. A lot of projects kept building despite the price of their coins, which could provide a vision of the future of those projects. Undoubtedly, the probability of a project staying in the market for the next bull phase is correlated to the number of cycles this project managed to survive. Therefore we trust,for example, Litecoin and Ethereum more than the others. This factor (the number of cycles a project survived) is very important for me to decide if I would invest in an altcoin. However, a lot could happen in 2023, so I'm not convinced to start buying altcoins now.
Why you aren't convinced to buy? Don't you see a good increase in the prices of most crypto coins? I think it is a good time to buy some altcoins with good fundamentals, we already have clear signs that crypto market to have better trends this year. Although the best time to buy was in 2022, but it is not too late to buy in early 2023. If you didn't buy now, you will be too late to buy when you realize the price already increased significantly in the next few months. I agree with nurilham, there are a lot of altcoins that are really worth investing in, even though the price increased since last year. Well, it's not too late there are altcoins that are still on the verge of a pump and when the time comes then it will be much worth it. I think some of the altcoins on the top 50 on CMC have the potential to increase their price maybe this year or before this year ends. top altcoins have the opportunity to invest, let alone those that have survived the bear market so far, then it is possible that they will follow bitcoin to the top again. but don't invest in new altcoins, even though the increase can reach thousands of percent, it also carries a greater risk, even if you are not careful it is prone to fraud. as my main choice, I chose eth, bnb, and matic to be the investment choice |
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