The cryptocurrency market is continuously growing and a lot of people are wanting to invest in different cryptocurrencies. Whatever their reasons are for investing in this kind of business is not new to many. The value of some cryptocurrencies are quite high such as Bitcoin and Ethereum, that is why a lot would want to buy, sell and trade such.
But the first question that pops in is, “when is the best time to invest in cryptocurrency?”
Even Crypto analysts and enthusiasts have no clue on when the best time is. Cryptocurrency is very volatile. Its value may increase in just a snap and may fall at the lowest value you can never imagine.
Since the rise of Bitcoin in the market, it has gained a wide range of audience. It has reached the maximum value of $19,783.21 in December 2017 and now valued at $3,675.10, as of writing.
The value of crypto has never reached the same value as that of in December of 2017 and has continuously dropped. Most crypto analysts, take this as beneficial in their part. The decrease in crypto value means a massive profit. How is this possible?
Investors have 2 favorite quotes:
Investors always say, “You don’t make your money when you sell, you make your money when you buy.” Literally sounds misleading, right? But this is true.Say, you bought a cryptocurrency when it was $2000 and had it sold when it was $3000, then it made you $1000 profit.
“You make more money when you buy” is as good as saying “you make money when you buy things at a great deal and reasonable price.”
Buying cryptocurrency when the value is at its lowest makes investors gain huge profit when its value rises.
As Warren Buffett said, “Be greedy when others are fearful and be fearful when others are greedy.”
Remember the day in December of 2017 when the Bitcoin’s value was just almost $1000 and suddenly spiked to as high as almost $20,000? Years back, when Bitcoin was still on its introductory phase, some investors are hesitant to invest in it. People who bought Bitcoin are just either curious what it is or do not understand anything about it.
As soon as Bitcoin’s value rises more than $2000, a lot has become interested in it. And when December of 2017 came its value has tremendously increased to almost $20,000. Hence, making those who have invested years ago who kept their Bitcoin until selling it in December earn a greater profit.
The best strategy when you want to gain more profit in the cryptocurrency market is to invest in it during the downturn. Knowing that cryptocurrency is very volatile, learning the ins and outs of this market has a very high input on what and when to invest in it.
Always remember to invest in what you understand and what you can afford to lose.