What is up. ladies and gents and welcome back to the tech cash house. So if you like this content feel free to leave a like share and subscribe and hit that little notification button below to receive an update every single time the tech cash house uploads another article What is up. ladies and gentlemen welcome back here today to another article so in this article I really want to talk to all of you about the key to making more money with cryptocurrency. Now cryptocurrency is extremely unique in its presentation stocks are unlike cryptocurrencies bonds are unlike cryptocurrencies even more speculative investments are really all unique in terms of their relation to cryptocurrencies cryptocurrencies are a new form of financial expression that we’re just really seeing to take off and really they hold a number of new challenges that I think people kind of need to be more well in touch with before they begin investing in cryptocurrencies so I’m gonna present in this article a couple of things that I have learned and I am going to share them with you and I hope that you find them helpful so the number one tip that I can give people for making more money with cryptocurrency is never never for the love of God five times over never buy in a hot market. Now you might be saying what on earth is a hot market and with cryptocurrencies we see a lot of hot markets. Because Kryptos are really a big buzzword these days. Because they are fairly popular there are new technology that a lot of people are really interested in we see a lot of hot periods. Now I would define a hot period as a period marked by a significant rise in price so for example I might define the period between July 2017 and September 2017 as a hot period Bitcoin rose in price by roughly three times and that definitely spurred on a lot of interest of course at the end of that hot period. You know. when people were really starting to recognize what bitcoin was and they were buying in right here at around this point people. You know. a couple of people that weren’t as comfortable with cryptocurrencies or were worried about kind of a a tempest market sold off and they ended up losing money so people bought in right here when it was and they sold and that turned out poorly for many people. Now for people who didn’t sell and for new adopters when the market was once again cold or people. You know. when people have lost a little bit of interest relating to cryptocurrencies or Bitcoin at least people bought back in and proceeded to make more money once again we reached a pinnacle of roughly seven thousand four hundred dollars per coin and the market tapered off just slightly. Now it tapered off for about a period of a few weeks at which point it once again picked up and Rose exponentially to the highest price ever recorded of nineteen thousand two hundred and five dollars. Now unfortunately this major run-up here was essentially the epitome of a hot market people are becoming extremely interested in cryptocurrencies and. Because of widespread news and publications on currencies such as Bitcoin a lot of people that were otherwise not well acquainted with the currency were buying in a lot of my family members even approached me at this time and said hey crypto is rising. You know. bitcoins getting really big should I try to buy it somehow and I honestly just told them. You know. I think the markets really hot right. Now and that’s pretty much what I said and then as we have seen in recent months the market definitely cooled off. Now it’s February and the market is declining. Okay, so we see major periods of hot and cold with all financial. You know. entities I suppose. But cryptocurrencies are really unique. Because they are very much built on hype so never for the love of God by crypto when the market is hot. Okay, if you’re seeing cryptocurrencies listed in newspapers. You know. as a sort of new bulletin that doesn’t seem all that committal or you’re hearing your elderly family talk about cryptocurrencies it might not be the time to adopt let the market cool down let people who aren’t as interested in holding long term abandon their positions and then move back in and by. Now this isn’t only a unique to Bitcoin. Okay, we’ve seen this with Bitcoin cash. Okay, not as much so. But we saw some definite periods of extreme price inflation with Bitcoin cash when it was recently listed on coin base. Okay, we saw some extreme inflation it was pretty ugly and the market has really rapidly cooled down. Okay, so here’s my advice if you’re a newer investor in cryptocurrencies and you want to invest. But you don’t want to risk investing when the market is too hot or if the market is. You know. maybe not as cool as you would like it and this is what I do I would highly recommend that you take a more evenly heeled investment strategy and you invest in smaller lump sums. Okay, invest what you can afford to lose every week if you spend 20 bucks on sandwiches every week take those 20 dollars and invest them in crypto for the week. Now if you need that money to eat obviously don’t do that. Because that’s just a bad idea. But if you’re not going to use the money for anything that’s essential to your life take that money that you can afford to lose that you might spend on cigarettes or otherwise and invested in crypto and do that once per week for a year that way you can really weather the hot and cold spots and it’s going to give you a much more evenly healed portfolio so really what I want to get across here is it’s not bad to buy crypto definitely not. But you do not want to buy when the market is hot. Okay, absolutely avoid that as much as you can buy when the market is cold buy when the market has been cold for one or two weeks and that is really your time to get back into it so what do I folks I hope that you found that helpful I’m going to be posting more articles on the tech stock house and tech crypto house before too long so please check out those channels if you have not yet I would like to really give both of them up to 1000 subscribers pretty quickly and. Yeah, thank you all for watching and I’ll see you all of you in the next article as always thank you so much for watching. It really means a lot to us here at the tech cash out the tech cash house is funded by viewers like you. So if you enjoyed this content feel free to check us out on patreon as always it’s been Mike from the tech hash house signing off you.

This entry was posted in Making Money Online, Passive Income Ideas. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *