After being an active participant in the cryptocurrency market since early 2017, I can say the bear market has been off-putting. The total value of crypo assets fell from $750 billion to $500 billion during the recent selloff. We have all seen the charts that tell us this is an annual occurrence, but it’s hard none the less to see our coins lose value.
Articles with headlines like: “Cryptocurrency Market could hit $1 trillion this year” give us hope for the future: https://www.cnbc.com/2018/02/07/bitcoin-price-could-hit-50000-this-year-experts-say.html.
My current portfolio includes Bitcoin, Ethereum, Litecoin, FunFair, Steem, DigitalDAO and several smaller positions. Below are my strategies for crypto success this year.
Dollar Cost Averaging
Just like with stocks, which have also fallen, consistent purchases of coins can lower your cost average. Check out cryptocurrency annual charts and you’ll see clear patterns: https://www.cryptocurrencychart.com/. Commit to buying $100 in bitcoin and alt coins/month.
Buy the blue chips and utility tokens
BTC, ETH, LTC, XRP, ETC are big name blue chip currencies with huge followings. Purchase these and wait. Utility tokens like EOS, OMG, LSK are ambitious projects that have actual communities and development teams. Pick coins like OMG that actually solve a real-world problem and hold them in your wallet.
Participate in ICOs
There are several legitimate ICOs coming this year. Check out ICO bench https://icobench.com/ for information. Commit to purchasing 1 ICO per month this year. January was Titanium Blockchain and Knowledge token for myself.
Hold
Use the cryptocurrency slogan of “HODL”. Coins go up and down. Do not sell at a loss.
Wishing you all a happy and profitable 2018!