Being an active player in the cryptosphere has taught me of all things that the market can accommodate and favor only as many people as are willing to do what it takes to survive in the terrain. Getting scammed in the cryptosphere is rampant but avoidable and getting on the better side of the tide depends on a series of factors on the part of the individual. These article helps pitch new investors in the right direction in being an active player in today’s digital currency space.
The Volatility Of Digital Currencies
The cryptosphere presents a highly volatile digital currency and financial ecosystem in which prices and values of assets can surge remarkable both upward and downward within a short period of time. A very good example of bitcoin price surge was documented by en.wikipedia.org/wiki/History_of_bitcoin, in the article, Bitcoin was sold for $17900 as at December 15, 2017 and the price rose up to $19783.06 as at 17 December 2017. A dip in price was discovered on the 22nd December that same year.
This volatility of cryptocurrencies is seen by some as a negative onus while for some, it creates the avenue to take advantage of the fluctuations to maximize gains by timely and accurate market analysis, this point was aptly put by Richard Branson in his analysis of Bitcoin
“Well, I think it is working. There may be other currencies like it that may be even better. But in the meantime, there’s a big industry around Bitcoin. — People have made fortunes off Bitcoin, some have lost money. It is volatile, but people make money off of volatility too.”
Whatever position an investor takes is influenced as a result of some factors which can vary from one investor to the other. For the benefit of new investors to crypto, this article summarizes the basic dos and don’ts you should keep in mind before investing in any cryptocurrency-based project.
The Dos of Crypto-investment
Ensure you make your research: The world of cryptocurrencies is as…