Are You A First Time Cryptocurrency Investor?

Are You A First Time Cryptocurrency Investor?

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This is for all the new folks in cryptocurrency on the fence about entering this space. For a long time now i've been hearing about so called experts saying Bitcoin will tank to $2000 range and after a long wait we're closer to $5000 than we are to $2-$3K range.

In a long bearing market scenario there's always a major rebound or two happening but when you take the long view we understand that even $5000 isn't as bad as having to enter at $20000.

It's the new as well as gullible investors who get taken for a ride. We wait on the sidelines far too long and our inaction leads to losing opportunities even if we don't lose any money.

If you don't invest, you don't risk losing funds but you risk not growing it either. Being on the fence has it's downsides clearly!

In recent times I've spoken to some new users who are unable to monitor markets everyday. In these cases they have generally taken a long view and tried to pick up the tokens they want to be accumulating such as Bitcoin at regular intervals whenever they've seen a dip.

This is a good strategy if you can't devote time to analysis. Infact I've employed this strategy many times in the past when I was lacking time. I would set some buy orders and forget about it. In a bear market it's likely that cryptos will trigger some low points now and then. This has allowed me to slowly and steadily increase my portfolio without having to worry too much about wild swings.

See, the point here is that you don't want to feel left out. The bull run of 2017-early 2018 certainly made thousands feel that way. Many burnt their fingers because they stayed on the fence and entered at the top and sold at the bottom just as the following meme illustrates.

FOMO is a real thing in the cryptocurrency markets and you never know when it will kick in. These are markets manipulated by whales, hype and sometimes small news triggers big waves up or down. A long term outlook helps in facing these downtrends.

Invest only that you are willing to lose 100% and play it wise. Be an early adopter and exit when your goals are met or the market is at the top. This isn't a financial advice, just my opinion from my observations and experience growing my portfolio even in the bear market.

If you are a first time cryptocurrency user, what is your expectation for the way ahead. Have you invested already or are you still on the fence about the prices or the markets in general. Please let me know in the comments below. Meanwhile you can also vote on this poll at @dpoll.xyz.

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• Yes

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• No

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Answer the question at dpoll.xyz.