After spending countless hours and countless dollars learning everything I could about the crypto markets I have found the secret to it all. I am going to teach it to you. Are you ready?
The secret to predicting the crypto market is to don't do it in the short-term. There is no real rhyme or reason for somethings that happen. I mean, seriously... look at Bitcoin Cash today...
What the hell is that all about? Why is that a valuable coin and what in the world caused it to jump 73% in a day? Especially on a day that everything else seems to be down.
The unregulated markets of crypto make it a volatile place to invest and even more wild to day trade. It is impossible to really figure this thing out because it seems there are so many different things in play that completely take the markets for a ride.
What can you do about it?
The best thing to do is treat it like all investing...
1. Pick investments and coins that you believe in. Ones that have a solid team behind them and are doing something that is unique in the marketplace.
2. Make sure they are moving forward and growing their coin. Many coins are still in the developmental stage, make sure they are actually using their ICO money to build what they planned.
3. It is always better to bet on the "blue chips" like Bitcoin and Ethereum for the long run than buying a dozen different coins and hoping one makes it big. One may not make it big, but Bitcoin and Ethereum are about the safest bets in crypto right now.
4. Diversify as your account grows. Expand out to other coins beside Ethereum and Bitcoin as you grow and buy into products that you believe in.
You do these things and you will do well. That is my strategy now and I am not even going to worry or waste my time trying to predict the markets... at least for now. Until I change my mind.
(all gifs from giphy.com)
Let me know how you predict the markets or if you even try in the comments below.
To my followers, you are the blue chips stocks in my portfolio.