Why is cryptocurrency bullish in the long-term - page 6.

noorman0

hero member

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[Nope]No hype delivers more than hope

Quote from: Liamttw on July 05, 2021, 11:19:06 PM

-snip-
... and now more and more young people like to invest in cryptocurrency. Why are they so optimistic about the crypto market and how do they analyze and profit from it?

Young people are very vulnerable to influence. Looking back on the bullish trend of late 2017 where cryptocurrencies were mainstream on every news and mass media site, this is history repeating itself.
They know crypto because of the portfolio posts of other young traders on social media where trading has become a trend these days. That is the reason for their interest in the crypto market, which considers cryptocurrencies only speculative thing that can make them rich overnight as they have seen.

Of course, this understanding slightly deviates from the actual intent and purpose of crypto which can prevent them from learning further, especially the mechanism and security if they fail to invest at first.

Wexnident

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I don't take loans, ask for sig if I ever do.

Well, it is loved by the people right now and I reckon it wouldn't really die off for a few more years. We would actually see it stabilizing into a steady price once the supply reaches close to its peak since that simply means supply increase would now be locked. Tbf though, most people invest in Bitcoin due to its past, its history. Starting from 0 to a price of 5 digits? Who wouldn't think that it's a way for an easy profit? Well, it'd be those that haven't exactly entered/tried trading. Some people though do believe that crypto has the potential to reach higher values, and it's due to Bitcoin being, well, Bitcoin.

Henrobakkara

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Quote from: Liamttw on July 05, 2021, 11:19:06 PM

Buffett said, never depend on single income,make investment to create a second source.
Investment is very important, and now more and more young people like to invest in cryptocurrency. Why are they so optimistic about the crypto market and how do they analyze and profit from it?

It is obvious that in the past half-decade that investing in cryptocurrencies has begun to bring big profits for its investors hence you see that most of the younger generations today and even the older generations and institutions have decided to set up crypto investment as another source of investment for income generation. History they say is the best teacher and from that, some cryptocurrencies have proven to be very profitable as part of your Hodlings for the long term, so you would find investors investing in those crypto coins/tokens that have that capability for a long time HODL/Profits gains.

Kiley33

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In the long run, the volatility of cryptocurrency reflects the recognition of consensus, a game between longs and shorts. When most people reach a consensus and everyone gradually realizes its value, the volatility will naturally stabilize. The volatility of Bitcoin, a cryptocurrency, will become smaller and smaller. Now some countries have announced that Bitcoin is legal tender, and Bitcoin has risen a bit. In the future, cryptocurrencies will definitely get better and better.

Felimon

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In my opinion, the field of cryptocurrency investment is now mostly loved and known by many people. Like today's young people, they are curious and they like venture capital. But before investing in any coin you need to learn more about chart analysis as well as the future background and long-term direction of the project. but if you invest in shitcoins it's just a game called gambling and your risk of losing everything will be very high if you don't learn about this cryptocurrency market.

dota2bestplayer

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As the most popular investment field in the Internet field, cryptocurrency is well-loved by the public for its safety, rapidity, and prevention of inflation. And cryptocurrency has increased rapidly in recent years, far exceeding investment projects in other fields. In the eyes of the public, you only need to hold cryptocurrency for a long time to get very considerable income.

TheUltraElite

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So anyway, I applied as a merit source :)

Nectar attracts bees. Thats the point here. People want to get rich and make money by putting in least efforts. That is why they get FOMOed and start buying things that are high.

I am not trying to dissuade anyone willing to buy bitcoin, but they see the profits that they could make if they bought bitcoin a few years back.

Quote from: Liamttw on July 05, 2021, 11:19:06 PM

Why are they so optimistic about the crypto market

I cant say from their perspective, but hype is defenitely a part of it. Maybe some of them actually understand how bitcoin works and they believe this to be having an important utility in future.

Quote

and how do they analyze and profit from it?

I assume you are asking as a newbie. So as advice to newbies, stop listening to youtube videos about crypto. Learn how it works and see its use-fullness, then go for analyzing charts. If you have a background of stocks you will not find it difficult at all.

About making profits, spot trading is what I suggest to all newbies but point of entry should be low. That you have to decide on your own and defenitely is not 40k USD - that would be a loss at this time. Only go for margin trading if you are well-versed in it, otherwise not.

jackg

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https://bit.ly/387FXHi lightning theory

Holding is the best way to profit from being in crypto if you can't trade. Even holding something that's backed like dai and exchanging it for cdai means you're making a few % passively without trusting a third party much (auditable smart contracts reduce the risk of losses).

A lot of stocks aren't moving anywhere in price too and some people are nervous of having a bank account and stock investments (even a pension can be considered risky these days).

I think there's also the fees to compare when talking about crypto too. A €60 fee is very low for an international transfer and is what you can often expect to pay if dealing with banks. These transactions are also normally limited by the slowest bank so can take 3-14 days for money to be received which means crypto is the better choice in this case too - even if it's a stablecoin.

A lot of younger people in crypto too, mightve bought in at <$1000, even $10000 is cheap for bitcoin now and those people will likely be quite relaxed now - along with those people who bought eth for a cent and who mined some cryptos on their cpus.

mk4

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Paldo.io 🤖

When we're talking about the huge majority, it's mostly because cryptocurrencies are sort of the "thing" right now. Funny how we're talking about a second source of income, because most of these people are going to end up losing money and getting totally burned by "investing"(a.k.a. gambling) in obvious shitcoins.

Liamttw

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Buffett said, never depend on single income,make investment to create a second source.
Investment is very important, and now more and more young people like to invest in cryptocurrency. Why are they so optimistic about the crypto market and how do they analyze and profit from it?

Topic: Why is cryptocurrency bullish in the long-term - page 6. (Read 741 times)