Best Cryptocurrency to Invest According to Buy Picks

Best Cryptocurrency to Invest According to Buy Picks

If you think that investing in cryptocurrency is an easy way to get rich, you are mistaken. This is a fundamental process, requiring serious preparation, the ability to subtly analyze the situation and remain calm where others would push the stop loss button.

Now that the price of Bitcoin and most altcoins is flying up, the history of 2017 repeats. Then, on a wave of Bitcoins explosive growth, everyone started to invest in cryptocurrencies. We believe you have also heard about the events of 2018. In order not to become a victim of cryptocurrency volatility, it is worthwhile to approach investing consistently. This means that all decisions should not be made spontaneously, but be part of a developed strategy. Do you ask how to invest in cryptocurrencies profitably? We will tell everything in detail.

Look into the past

To understand the future, you need to remember the past. Its the analysis of previous cryptocurrency movements that makes it possible to predict its prospects and future growth or decline. Lets take, for example, the first and most popular cryptocurrency — Bitcoin. Consider all the changes in its price for 11 years of existence:

  1. The history of Bitcoin began in 2009, then for one dollar, it was necessary to give 1309 BTC.

  2. In late 2010, the price has already reached $0.5.

  3. In 2011, Bitcoin rose to $31.9 and ten days later pulled back to $10.

  4. The entire 2012 price was under the previous maximum of $31.9.

  5. Already in 2013, the BTC price not only overcame the mark of $31.9 but also conquered the sum of $1,000, which attracted enormous attention to cryptocurrency.

  6. 2014 was the first truly bearish year in Bitcoins history, the price dropped from $1,000 to $350.

  7. The bearish trend continued in 2015, the price was in the corridor $220-240, and sometimes it also broke through the $200 mark. But at the end of the year, it flew up to around $450.

  8. The whole of 2016, the deadly grip of bears weakened, giving way to the bulls, the price increased on the way to $1,000.

  9. 2017 was the year when billions of dollars flowed into cryptocurrencies from large and small investors. The price flew up like a rocket. From $1,000 per BTC it reached $20,000 by the end of the year, then it seemed that this was not the limit.

  10. However, 2018 became the kingdom of bears. In just one year, Bitcoin sank 80% to $3,200. Considering that many traders came into the mark with highs, such a scenario caused panic and horror in the crypto market.

Now in 2019, which did not start very well, but the so-called crypto winter came to an end, today the Bitcoin price exceeded $8,600. Experts are forecasting further growth throughout the year and beyond. Someone calls the amount of $1 million per BTC in the next few years. However, is this true?

We have led the whole story with one sole purpose — to show how changeable the cryptocurrency market can be. And, if the strongest cryptocurrency is subject to such ups and downs, then what about altcoins, which are under its submission? We remind readers once again that investing in a crypto is a very risky business that requires a ser ...

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Tags: Cryptocurrency, Bitcoin, Price