At the moment Bitcoin price is dropping steadily and whilst there are slight recoveries, I think that we may see a drop in price in the coming weeks that could serve as the correction factor for the future of the coin's price hikes. But at the end of the day, this could be a very good thing because there will be a nice opportunity to buy and invest in the coin before another hike in value.
Hmm, that will be okay too, if the price gonna fall flat. It will be the best time to buy and store it, hoping it undergo another bullish run after the price correlation. Let's just wait a little bit before investing on Bitcoin as the case maybe now.
Apart from bitcoins, there are many other coins whose rates have gone up a lot, including litecoin, Ethereum, Bitcoincash, but the one I can predict will be the highest, I think litecoin and I Has invested in it. It is very strong and very profitable.
Yes, I am doing that as well. I am not putting any money into Bitcoin at the moment with the price lowering daily. Instead, I think that within the next few weeks we may see the direction of Bitcoin and the prospects for the investment can then be decided upon, and I will likely invest in Bitcoin. In the meantime it will probably be best to look at a short term altcoin for this period whilst analysing the Bitcoin market.
That's a good decision to wait and witness the price correction of Bitcoin before investing on it. You can go to coinmarketcap and check on any potential coins that will drive you profit in the short run. If you make your analysis backed with research you can find that profitable coins to invest in the short run.
Research is extremely important when it comes to choosing the right coin to invest in, even if you are choosing Bitcoin to invest In there is still a level for research that will have to go into it in order to reduce the risks that are associated with this market. Crypto is a constantly changing work d and new coins are added daily so doing research and staying up to date is very important when looking for short term investments.
You're right, doing research and staying updated about Cryptocurrency news will help one to ascertain those rising coins with potential to bring profit at the short run. I'm always reading headlines about Cryptocurrencies via coinmarketcap website, they teach me a lot about Cryptocurrency.
News headlines is a very good way to stay up to date. I also tend to look forward to analysts and their analysis of the market and the coins. Whilst they tend to analyse the main coins like Bitcoin and Litecoin and so forth, there are some articles that will also mention some up and coming altcoins that will mention the projected prices and so forth. This is how I came across the LINK coin when it was being talked about, but at that time I did not have the funds to invest in it. But there is still good prospects expected from this coin.
Good one, the chainlink coin, wave coin, polkadot, Ripple etc. Have that potentials to grow in price with time. Many good things are speculating around them. Lots of investors are gearing up investing on them. Hoping that the coins turns out to be a shrewd investment in the future. If I have cash right now, I wouldn't mind to throw up $400k for this coins. Investing like whales will bring me adequate profit from them all.
This is very true but something that I learnt the hard way recently, is that when you invest a large amount like a whale you are also losing a large amount if there's a change in the price. I have never invested that much of a value into a coin. I think that the most I ever invested into a coin was probably around $50, which is nowhere close to be considered a whale. However the one thing that I noticed just had a 1% change in a $50 investment if it goes down, is a 50 cent loss. Whereas with that $10 investment it is only a 10 cent loss. So the risk becomes much higher.
That is true, but remember if it goes by 10% increase you'll be gaining by 10% too. So when we talk about the negative we also discuss about the positive change that it will bring to us. I might not be investing now cos the fund i hope to invest it's not available now. I will wait till when my savings matures then I will invest.
A well-known pattern: Bitcoin has been growing first in recent years, after which the altcoins followed are:
Dogecoin started at the rate of 3 cents in 2021 then saw its stock rise to 62-67 cents around April ending to May first week. Then the bearish came push it down.
