Bitcoin is Ok News

TIPS FOR BITCOIN INVESTORS IN 2022  by E. Okorie, 22nd of January , 2022

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The current down trend of bitcoin have left investors skeptical over the future rise in value of bitcoin. However, with this tips, bitcoin investors have a good vintage point to analyze, control and monitor their assets

First and foremost, we want to clearly state the golden rule of investing - investors should not invest in any amount he/ she cannot afford to lose. In other words, bitcoin investors should always invest amounts that won’t affect his/ her portfolio either on the short term or long term.

Second tip for bitcoin investors is to keep record of the price of bitcoin when it is bought. As all aim of investment is for profit, regardless of the future trend, you should only sell when the value of bitcoin becomes higher than this price. Although our emotions may get in the way if the value of bitcoin falls, discipline will keep the investor fixed on the objectives and goals he/ she wish to achieve.

Thirdly, Investors should know the current trend of bitcoin before investing either in a long or short term investment. Logically, a buy in uptrend would definitely lead to appreciation in value of bitcoin in future and vice versa. In this view, investors are not advised to buy bitcoin on a downward trend except he/ she is sure of a trend reversal. This is possible at the bottom of a downward trend. In this view, bitcoin investors are advised to get good fundamental analysis of the market trend before buying bitcoin in a downward trend.

Fourthly, bitcoin investors should never use cheap/ unverified exchangers. There are so many bitcoin exchangers who are ready to trade your bitcoin to another currency. However, bitcoin investors should only use well known exchangers and don’t patronize unverified ones. Some exchangers even make unbelievable rates so as to lure their victims into depositing their bitcoin into their account. After which they will refuse to fulfill the other side of the agreement. Bitcoin investors are advised to read the terms and conditions of service before using any exchanger and if in doubt seek further clarification from them. Also check for reviews on exchangers before using their services.

Finally, bitcoin investors should always set goals and target where they intend to claim their profit. Never assume that bitcoin would have a forever upward or downward trend. When the value of bitcoin reach this price, an investor should cash out immediately. This is the last form of discipline in investment and many investors are usually emotional that the value of bitcoin may just appreciate more. Unless such investor have all the technical analysis to back up this claim, he/ she is advised to claim profit when his target is met.

This are the few tips for bitcoin investors which would help users build a stable income investing in bitcoin.