In December 2017, after an incredible rally for bitcoin, many started to join the world of crypto looking for a quick buck. Unfortunately, the timing was bad, because after the boom the crash came and most of the people who entered in December panicked seeing their portfolio lose maybe up to 70%.
In terms of volatility, I’ve seen a comparison recently between the early days of trading gold and now with the crypto markets, bitcoin in particular. Gold was highly volatile back then. Which means if crypto markets will have the opportunity to mature, the volatility should lower in time.
What is interesting in trading on any market, is regular people tend to go in at the peek and get out at the bottom, based on two of our powerful emotions: euphoria and fear. That’s why many lose money by trading.
The alternative is to look at your investments on the long term, as assets which will become more valuable in time, if you choose right. If you look on the long term, a price drop might be an opportunity to buy in, but again, fear, doubt and uncertainty set in and few will act.
I’m not advising you to invest in anything. I am sharing some of my own (unprofessional) impressions though.
I believe blockchains and cryptos will contribute to revolutionizing the world we live in. Not all of them and not at the same measure. But all revolutions, especially technological, are complicated to grasp at first. I didn’t come to this conclusion lightly, it took me a while to come to terms with this new technology and understand what it can bring for the future.
It’s been almost 10 years since bitcoin was invented, yet many people have no idea what that is, maybe some don’t even know it exists.
Right now, somewhat still in its infancy, it’s still not an easy process to buy crypto for fiat currency (USD, EUR, etc.), keep them safe, pay with crypto, or buy fiat currency for crypto. Mining crypto is already at another level.
But the easiest way to begin is to actually dive in and learn step-by-step how to do everything, and take daily actions to expand your knowledge.
The first step for any newbie wouldn’t be to buy crypto for fiat, but rather to understand what crypto wallets are, what faucets are and use them daily for a while, until it becomes clear.
This is the approach Bitcoin Bully has taken. Just learn the basics first, by doing some daily tasks.
Bitcoin Bully includes a step-by-step video training created with a complete noob in mind.
There is, of course, a more advanced section for those already familiar with the crypto world.
So, what do we have now? Crypto markets come after a crash, so some will be reluctant to try Bitcoin Bully, even if it’s a training program completely free to join and use (and has nothing to do with the price of bitcoin). They’ll wait until bitcoin will rally again, and then euphoric, they’ll go all in. Sounds like a poker game, and in this scenario, it is. Why not take small steps starting today, instead?