Its April 20th and we have had 13 consecutive days of positive gains for the global cryptocurrency marketcap. The long awaited “Crypto Spring” might finally be here after a brutal tail end of the Winter season. For those of you who are new to the volatile cryptocurrency world, “Crypto Spring” is a time (usually towards the beginning of Spring) where both Bitcoin and Altcoins tend to make tremendous gains over a prolonged series of time.
At this point last year, the popular cryptocurrency NEO (then Antshares) was trading at a mere $0.18. Two months later, and the price of NEO had skyrocketed to $9.08. By the time the dog days of August had rolled around, the price per 1 NEO had risen to nearly $50.00. For those of you at home who are not exactly Math wizards, that’s a gain of 27,700%! Combine that with the staking feature of NEO to generate GAS (formerly Antcoins) and passive income would have been coming in from every direction. Not too shabby of an investment, huh?
In addition to NEO, many of the popular cryptocurrencies including Bitcoin, Ethereum, Litecoin, Monero and Ripple also experienced tremendous growth that generated a large amount of profit for early investors. While we do not aspire to burst any bubbles, there is a bit of caution to take as we prepare to enter our next bullrun. We at SAvant Public Relations have the knowledge and experience to help you achieve great success in the weeks and months to come. We have cultivated a small list below for your crypto journey. As a precaution, the information shared here is not intended as actual financial advice. We always advise investors to take the research into their own hands as they delve into new and exciting cryptocurrencies. Here we go….
(1) First things first, only invest what you are willing to lose. Cryptocurrency is very much a speculative asset at this time. Your investment portfolio could go to zero tomorrow as a result of a revealed scam, failed partnership, exchange delisting or anything else you may be able to think of ( Bitconnect immediately comes to mind). It would not be a wise decision to dump your entire savings account or retirement fund into cryptocurrency.
(2) Research is key when selecting cryptocurrencies for your portfolio. From our perspective in the industry, you must ask yourself the following when assessing a project: What does this cryptocurrency do that is unique to the market and the world beyond the blockchain?
Who are the team members behind this cryptocurrency? (Linkedin profiles are usually very helpful in this case)—do they have previous experience in their field of choice?
How does the community react to the cryptocurrency….are there insightful conversations to be had on reddit/telegram/discord or is everyone dreaming of lambos?
Lastly, how does the team deliver information to the public –-- is there constant communication? do their tweets/posts feel scammy simply to boost the price?
(3) Avoid Pump and Dumps (Pnd) and tread carefully with Cryptocurrency Influencers. The last thing you want after a “cant miss” call is to have the cryptocurrency’s price decline shortly after your investment has been made. Simply aiming for the top percentage gainers on coinmarketcap each day is a quick way to find yourself with bags of cryptocurrencies having poor use cases. You should tread carefully with cryptocurrency influencers (Hi John McAfee and Ian Balina!). McAfee has revealed that he asks for a hefty fee for each cryptocurrency he endorses, sometimes regardless of whether it is a legitimate project or not. Balina constantly mentions he is not a paid shill, but many around the crypto community question his intent and ethics.
(4) Looking at your portfolio on your Delta or Blockfolio app every 10 minutes will make you go crazy. This is a very volatile space with good days and less than ideal days. Instead of the constant checking, you can continue to educate yourself on the latest trends, exercise and maybe even finish that growing list of tasks at your day job. Your wellness should always remain a high priority regardless of which direction your portfolio is trending.
(5) Last but certainly not least, keep it locked on SAvant Public Relations (twitter: @SAvant__PR) for all the latest happenings in the blockchain and cryptocurrency world. We wish for our followers to be some of the most educated, informed and wealthy individuals in this investment space. Enjoy the bullrun everyone!