One of the basic knowledge of investing in bitcoin is that you buy when it's price is low and sell when it's high. So, if the price bitcoin fall and you have some money you're not needing anytime soon, you can invest it on bitcoin.
It's not bad if you're investing on bitcoin and euthereum now. The only thing is to invest on bitcoin or euthereum now you need a lot of money. That's many don't look at the option of investing on bitcoin and euthereum.
This is what I am also doing at the moment, I can not just go and invest on just Bitcoin alone as the current price would not make me get so much value for my investment.
I don't think investing because I need a lot of money is a very good idea. cryptocurrency is not a get-rich-quick scheme and the market is very risky. I can only Invest what I can easily let it go.
Exactly, that is, those who come to the ecosystem only because they heard stories of getting rich fast or that it is to invest in cryptocurrencies and everything is glories and profits are the first to leave the market terrified selling their assets in panic.
Yeah, anyone who is not able to acquire the necessary knowledge required to trade in the financial market will end up being terrified and selling everything in losses. I was among such people.
These are the two main rules before investing in cryptocurrency.
Definitely, even professional cryptocurrency traders always advises people to do their own research before investing. The importance of making your own research before putting your money in the market cannot be underestimated
By doing your own researches you will be able to learn new things about cryptocurrency market, you can not make money with crypto without having enough knowledge.
Probably, in the cryptocurrency space a lot of knowledge is needed if you want to become successful. there is no way you can be able to succeed if you don't have proper knowledge of how to read the direction of the market.
Reading the direction of the market or technical analysis is mostly for short term traders but long term investors usually use fundamental analysis.
Yeah, that is why you need to understand the both of them if you want to invest or trade cryptocurrency. It will help you to understand both the short-term and long-term market direction.
This is a must for everyone who wants to start his or her journey in crypto, not only with crypto but in every field you want to start a career, you should definitely have the knowledge of it.