Bitcoin Tips for people who want to invest in 2020
The Bitcoin price has shot through the roof in the last few weeks. Is it too late to invest in Bitcoin because of this? Most crypto experts are absolutely convinced that we are only at the beginning of a long development. Consequently, it should be more than worthwhile to invest in Bitcoin and other cryptocurrencies. However, one thing is certain: as great as the Bitcoin potential may be and as positive as crypto forecasts may be at the moment – those who act headlessly and without a trading strategy have far fewer chances of making substantial profits. In this post we have summarized important crypto and bitcoin trading tips. However, some things are simply a question of personal preference. You should by no means take all tips uncritically – but perhaps one or the other hint will provide valuable inspiration. Is it still worth investing in Bitcoin in 2020? When to buy coins, when to realize profits? How best to protect against hacker attacks? Here we go
First of all, it should be said that we are convinced that, If you feel that you know more about the details and trades of BTC or crypto, you can create an IG account and let people ask you questions. You can start your BTC influencer journey from buying decent quality followers. Of course, one should act wisely when choosing cryptos. However, those who bet on the top currencies with high market capitalization are relatively on the safe side. Of course, it still applies that the crypto market is extremely volatile. You should therefore always take into account that the capital employed can also decrease. However, given the current status, the risk-reward ratio, for example with Bitcoin, seems to be quite attractive for entry. How best to use the Bitcoin potential? Which strategy is promising? Is Ethereum and Ripple forecasts so good – or should you invest in the so-called mother of cryptocurrencies?
Tip N1 – Don’t get upset
Of course it’s a human thing that from time to time the emotions boil over. After all, the money that has been earned and invested is at stake. Since the crypto market is subject to relatively large fluctuations, it is all the more important to be able to make factual trading decisions. If you manage to implement your pre-determined strategy even in the event of impending storms, you have a clear advantage and can use the Bitcoin potential for yourself. The mood is currently extremely optimistic. It is not unlikely that euphoria will soon set in, provided that the crypto chart development continues in this style.
But what if the wind turns? When the reports get more critical and a bear market is predicted? Especially then, it is important not to panic. The following motto has proven itself: In fact, you only make losses if you actually sell – in many cases, in retrospect, it has proven to be a suitable measure to simply sit through bad times. However, this does not automatically mean that signals should be ignored. The Bitcoin course should of course not be lost sight of in this case either.
Tip N2 – Prepare a strategy beforehand
Of course, you can also simply buy Ethereum, IOTA or Bitcoin at a certain point in time, and then decide intuitively when to sell or when to realize profits. However, this crypto trading strategy has some disadvantages. Since no system can be recognized here, it is more of a game of chance. The chances of losing are considered to be far greater. On the other hand, we recommend that when entering the world of cryptocurrencies you think about which trading strategy is best for you personally. In the following we roughly distinguish between two different methods:
Anyone who believes in the crypto and bitcoin potential and is convinced that the future is almost unthinkable without these crypto currencies could turn out to be ideal for simply holding the coins for a long period of time. In this case, short-term price developments should not be weighted too much and should be factored into the crypto trading decisions. Second option to is to trade with a short-period strategies. In that way, you may profit $XX-$XXX from each plan.
Tip N3 – At which Bitcoin price do you sell coins?
This tip is basically closely linked to crypto trading tip number 2. However, in a slightly different form, or a little more precisely. It is extremely helpful to consider at which crypto or bitcoin rate the coins should be sold. However, since we are convinced of the intrinsic value and the Bitcoin potential, we would not recommend a complete sale anyway. However, it can prove to be wise to realize partial profits in order to buy again cheaply later.