Are you tempted to ride the bubble? Are you made of leather and steel? Are you ok with losing money? Then read on!
Bubbles bubbles nothing but troubles you often heard Grandma say. Well what did she know? Back in the box with you Grandma!
What is a bubble when we talk about crypto? A crypto bubble is when the price of a coin or coins is massively on the rise. You may have noticed that there is currently a massive alt coin bubble led in chief by The Arch Felon, Bitcoin. Can nothing stop the mighty bitcoin?
Well yes. It is a rare thing that can keep on rising forever and eventually there will be a...
No, not the naughty skelp on the derriere you might be hoping for from a strict Aunty but instead the kind that has you blinking back stinging tears of horror as you watch your portfolio do its best to imitate a particularly dead duck.
On the subject of Bubbles I find myself taking two tacks. These are risky so I will state that you should not follow the advice of a fool when gambling, oops, I mean trading with Alt Coins. And yes the fool I am potentially referring to is me.
The last thing any of us want is for you to be finding yourself losing your pants to a feller named Bob with a steely glint in his eye as he tells you to undress.
Two important things for me when buying during a bubble are price (in satoshis) and volume.
Oh yes. The experts love to talk about the volume. To a new trader this seems mysterious but is simply how much money is selling or buying.
First, is the price as cheap as chips? I.e a few hundred or less satoshi? Yes? Move onto the next step.
Is the volume at least 500K? in btc? Yes?
Fire in! Load er up. Get yourself a good big dod of these cheap cheap coins! For the princely sum of ten to twenty dollars you can pick up many thousands of these coins. This is what I have done to great effect but again I must state. Do not do this if you are averse to risk! This is a bubble. Anything can happen!
Another tip! Try not to buy when something is pumping. This is really risky and you often find that you invest and then boof! The buying stops as if by magic and you find yourself staring at long red candles into the night before retiring to bed and weeping softly into your pillow.
What you are hoping for with these little frittery coins is that they will go through a pump, which in this current bubble has been happening frequently. Often the key point here is that if they pump then you should ready to dump once it looks like the trend is reversing. So buy your coins and watch, watch carefully.
You have to be prepared. They might never pump. Keep in mind that this, by all accounts is a crypto bubble. It is liable to pop and the price of everything could plummet. So only gamble, I mean trade. Oh sod it, I mean gamble with what you can afford to lose!
Happy bubble riding!!!