For veteran writers like me, there hasn’t been much glorious news to write home about bitcoins lately. Interestingly, it is also the time when veteran bitcoin investors are focusing most on this cryptocurrency.
It’s the Culling Season
So why is that? The coin may be in a rut lately, but veteran bitcoin-preneurs know that is usually the culling season. A period when the weak investors are slaughtered out of the BTC arena, leaving the market to the strong players. After the culling period, the players remaining in the less crowded market will have more to gain and less sharing of the rebound windfall gains.
No doubt there has been a “crypto winter,” with bitcoin, in particular, falling by more than 60%. However, interesting developments have been happening since the start of September that indicates the downward trajectory is about to go the opposite; upwards.
For instance, on Sept 6th, the coin was below $19,000. However, this week is within the $19,000 – $20,000 range. Much of that is credited to a positive public remark by U.S. Federal Reserve Chairman Jerome Powell. He reiterated the Fed’s commitment to bring down the inflation being experienced in the United States, and they will not stop “until the job is done.”
Against that backdrop, crypto-asset market analysts have already increased their interest rates from 0.50 to 0.75.
Buy Low Sell High
After the thawing of the “crypto winter,” the weaker players will have cashed out to stronger players. The market will then undergo a bullish rise, leaving the strong investors with more value for their coins. In a nutshell, they bought the coins while low and can cash out when high. That is how bitcoin-prenuers you read about in the news are made.
What to Look For as a Newbie?
Cryptocurrencies, particularly bitcoin, have steadily grown to become mainstream and even a household name. Even though in its earlier years, the big governments across the Americas, Europe, and the Far East that shapes the world economic forums were against it.
Everyone is talking about it, and those who are yet to take the plunge into it are experiencing FOMO (fear of missing out). However, as a newbie, don’t let FOMO make you make erratic decisions, like putting all your money into this field. If anything, take it slow, and use only money you won’t mind losing.
Critically important to a newbie is your choice of platform to trade. As you might expect, not all platforms are equal. You need to be on platforms such as Bitcoin Method Official that give you peace of mind and security in the following ways:
- Trading on the platform is fully automated
- Great user experience. You won’t struggle to find your way around the platform
- Have a demo account where you can learn to trade before actually putting your money
- Transactions happen in real time
- 24/7 Customer support service.
- Employ state-of-the-art security to secure your identity, privacy, and funds
Crypto is Here to Stay
If you have been researching on cryptocurrency investing. Then you probably know the following lines have been over-emphasized.
Invest only money that you won’t mind losing. For most people, that is a small portion of your disposable income. Look out for crypto exchanges with good reputations and strong security.
With the increasing growth of web3 and blockchain technology in general. The world is finding new ways to employ the use of cryptocurrencies, and experts believe it is a matter of time before world governments come fully onboard.