Cryptocurrency is becomming more and more of buzzword these days. At the start of this year when you would ask around, few people would even know about crypto's. They might have heard about Bitcoin but probably couldn't tell you what it was and what it did. I was one of those people.
Untill one day I got introduced to the bigger picture by a friend. I got to know that it was a lot more then just Bitcoin and that all kinds of alternative coins actually have bigger projects behind them. A new addictive hobby was born.
It all started by joining several facebook groups where people were giving their opinions and sharing news regarding cryptocurrency and the diffrent coins/tokens. This way I quickly learned what was trending and what coins were good to keep in mind.
Next the investigation started. After gathering some information about trending crypto's and projects to watch I started doing my own research. Investigating the projects behind the coins, what problems they want to solve and who are behind these projects. What have they done in the past, why are they worth investing in my opinion.
After having chosen some projects that took my interest I decided to start investing small amounts of money to get myself set up and started. Using the Bittrex exchange I bought some bitcoin and converted it into some alt coins. Blockfolio was the app I then used to keep track of my investments.
After about one and a half month my portfolio started fluctuating a bit more. At this point it became clear to me just how unstable this market can be. Some cryptos went to the moon and within days came back to a very low point. Everyone around me adviced to just hold because in the long term this will (probably) turn out great. Personally, I believe the blockchain technology is a great development in the technology and this will definately become bigger as we learn more about it. That is why I could identify myself with the "hodlers" in this area.
Unfortunately, the last few days have been a bloodbath in the market. Some blaim the upcomming segwit, this could lead to a lot of people buying out before the uncertainty becomes reality. Right now this is seems like a great time to keep holding and maybe a nice chance to pick up some cheap coins while we're at it.
Since I am still a beginner I am wondering how you as a crowd see the current developments within the market and I am always open to suggestions!
Happy trading!