IF INVESTING IN CRYPTO, THE BULL RUN/ SEASON IS THE MARKET TO WATCH OUT FOR IN THE CRYPTO SPACE:
If you ask me, I can tell you for free that there are basically two ways to earn in the crypto space.1. Buy/ Accumulate as much crypto asset(s) as you can afford to invest during bear seasons and HODL.2. Trading (Futures trading / Scalping)Today, i want to focus on the first point, Buy and HODLYou definitely must have read or heard people talk about the bear market as well as the bull market. To put it in simple terms, Bear market is season when prices and value of cryptocurrency assets drop and tendency for massive sell off, that’s the value of crypto assets are at discounted prices. All these are characterized and triggered by maker cycle and sentiments. This is also the season true value of crypto assets are tested. Bull market is the reverse, a season when value of crypto assets rise and test their all time high (ATH). This is the season of harvest, to reap gains off your investments.If you have come this far, You will realize the value of your assets has increased exponentially, especially if you bought into the crypto asset at a fraction of its value.To achieve this goal, the basic rule is to buy the dip during bear season, when prices are low and selling for a fraction of the asset’s true value and “hold on to the asset/ hold on to dear life (HODL), regardless of the market sentiments during the bear season where there could be “fear, uncertainty & doubt” (FUD) and “fear of missing out” (FOMO). Do no panic sell regardless of market sentiment during the bear market for the goal and target is the bull market, when prices shall rise again.Conduct thorough research about the crypto asset you which to invest in and understand the market through access to relevant information and updates, before going in.It’s important to note that cryptocurrency markets are highly volatile and speculative.Remember, this is not financial advice. Goodluck!#BTC #ETH #BNB
Do not put all your eggs in one basket, Diversify your portfolio.
In the crypto space, Diversifying your portfolio simply means investing in other crypto assets rather than just one. This singular action comes with advantages; It increases your exposure and knowledge in other crypto assets and also serve as risk management strategy against crash of a crypto asset.Let’s dive into some notable assets in the crypto space:1. Bitcoin (BTC)- Bitcoin is the first digital currency, also referenced the “digital gold”. Created by an anonymous person or group of people using the pseudonym Satoshi Nakamoto, introduced in 2009. Bitcoin is considered a store of value with a maximum supply of 21 million. With an all time high of $69,045 per BTC during the last bull run in November 2021 but presently valued at $26,200 due to the bear market.The next bull market will redefine its worth.2. Ethereum (ETH):Ethereum is a blockchain platform that allows developers to build decentralized applications (DApps) using smart contracts. Ethereum was conceived in 2013 by Vitalik Buterin, alongside other founders. ETH is the native cryptocurrency of the Ethereum network and is used for gas fees (transaction fees) and as a store of value.Presently valued at $1580 per ETH, the next bull run should give new all time high (ATH).3. Binance Coin (BNB): - Binance Coin is the native cryptocurrency of the Binance exchange and Binance Smart Chain. Changpeng Zhao is the founder and CEO of Binance. - It has various use cases within the Binance ecosystem, including paying for trading fees, participating in token sales, and using DApps on the Binance Smart Chain. - Binance conducts periodic token burns to reduce the supply.The buyback plan of BNB by Binance will definitely increase it’s value.BNB was valued at $680 per BNB during the last bull market but presently valued at $210. Due to it’s versatile utility, it’s presently undervalued.The cryptocurrency market is highly volatile, so prices can fluctuate rapidly.A good risk mitigation in crypto is to never invest more than you can afford to lose, also Practice Dollar Cost Averaging (DCA) into crypto assets with great utility and value.#BTC #ETH #BNB