About Crypto Currency

Syed asked 11 months ago

Dear sir , i’m new to this trade..i want to start trading..i have some doubts..
firstly ,

if i bought 1 bitcoin and hold it doing nothing till 6 months..it will increase? if it is how it will increase (i mean calculation) ? Which is the best time to buy and sell ? if i trade on daily basis how can i trade? how it is useful?…I read your article i think your best man to reply ..I’m eagerly waiting for your precious response..!!
Thank you So much

1 Answers
Steven Hay answered 11 months ago

Hi Syed,
Well, this type of trading is full of uncertainties. Nobody can say for sure what price will be in the future. People who own bitcoins – such as myself – always want price to go up and this often leads them to look for reasons why this will happen… If you ask most people involved in Bitcoin where price will be in future, they’ll probably tell you it will be higher. While I also think it’s more likely that Bitcoin price will rise over the long-term than fall, you must remember that there are no guarantees.
The best time to buy is when price is low (people will be panicking and there will be much fear in the markets) and the best time to sell is when it’s high (people will be celebrating and there’ll be much greed on display)… I would say it’s best not to trade on a daily basis. Doing so is a stressful full-time job. It’s easier, safer and usually more profitable to buy and hold for months or years. This is how most people have become wealthy through cryptocurrency – not through active trading but through patient holding. Remember to store your coins on your own computer in a secure way if you follow this buy and hold strategy.

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