Hello all, welcome to my blog 😁. Today i would like to share few points which i earned through experience on cryptocurrency investment. All the points are my personal opinion please take a note of it.
I get to know about the cryptocurrency knowledge around 2016 where i didn't have bank account to make a transaction between fiat to cryptocurrency although i managed to make some crypto money until reaching age of 18 to open full authorised bank account. It was really a golden time.
At the time it was steemit, ( hive evolved after that) i seen the price sky rocketed to 10$ per steem token. And SBD was around 16$ and it was golden time. And many cryptocurrencies had evolved in the market and each tokens got value day by day. And i got some huge losses and profits on some of the coins let me share what are the key points which we need to keep in mind.
Volume:-
In case of investigating huge amount in particular token i advise everyone to choose the coin with higher volume not only in 24 hour frame but atleast of recent 3 to 4 months, has high chance of sudden price drop will save you from heart attack.
Buy pressure:-
In real life, value of real estate will grow and grow as the buying a land has purpose and it's availablity is fixed so that we can't generate more lands. Hence buying purpose and availability will fix the value of token. For that we have to read the white paper and scheduled events of the project will help you to book some decent profits in short period of time. For example, In the binance launch pool, staking bnb will give us certain airdrop this will increase the buy pressure of bnb token. Hence this BNB price will solid until buy pressure stays.
Social media:-
It is easy to find the official social handles on their token project page itself where we can easy find the quantity and quality of follower base.
These are the main points to remember while choosing the tokens but while investing we have to split the total investment into 5 to 6 part and invest evenly on all so that you will be saved in certain situations. This remembers proverb -" Don't put all the eggs in single basket".