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by Guest Post Cryptocurrencies shot to limelight in 2017 when bitcoin started soaring from around $1000 at the start of the year all the way to incredible highs above $19,000 by the end of the year. 2018 is shaping up to be particularly interesting for stakeholders in the cryptocurrency trading markets as the industry starts facing serious headwinds on different fronts.
The voice of skepticism and criticism are louder than ever before, governments are taking decisive steps to regulate cryptocurrencies, and some naysayers can’t seem to stop predicting doom on the horizon. However, the current weakness plaguing cryptocurrencies might turn out to be a blessing in disguise for bold traders who are not scared of making contrarian moves.
The legendary Warren Buffet once said that the easiest way to make money in the market “is to make be fearful when others are greedy and be greedy when others are fearful.” Right now, many people in the cryptocurrency industry are “fearful” and there’s probably no better time to be “greedy.” This piece provides insight into four different ways to be involved in cryptocurrencies if you are scared of falling prices. The easiest way to play cryptocurrencies is the traditional buy and hold strategy – you buy a cryptocurrency, wait for the price to increase, and then, sell it for a tidy profit.
There are more than 1,500 altcoins in the market; hence, you’ll need to commit considerable time and resources to conduct due diligence on any cryptocurrency you want to buy. You’ll also need to be resolute when screening cryptocurrencies so that you can effectively sift the hype from altcoins that have substance.
A smart way to improve your odds of success as a buy and hold investor is to use dollar-cost-averaging strategies. Dollar cost averaging helps you spread out the purchase of your positions over a period in which you buy a fixed amount of cryptocurrencies weekly or monthly irrespective of the spot price. Read more from btcmanager.com…
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