Last Updated on 5 months by Komolafe Bamidele
Becoming a trader or investor in any of the cryptocurrency networks is quite uneasy and it is very important for you to have a lot of discipline.
This discipline helps you in many ways and helps you keep total control even when the market is volatile.
This discipline also ensures that you make the best decisions and also make use of your strategy.
The crypto market is known to be one of the most volatile markets in the world and you need to be very careful before investing so you don’t lose your money.
The coronavirus pandemic has caused a lot of damage to the financial sectors all around the world and people are more optimistic for the market to get better this year.
It is undeniable that everything is slowly getting back to the way it originally was.
The cryptocurrency sector has been predicted to get to higher heights at a much faster rate than the others.
This must come as good news to all those who love the bitcoin and cryptocurrency community at large.
If you have some capital and you are thinking of making an adequate investment, you should definitely check out the cryptocurrency sector.
It is quite the best investment out there, although it is high risk and highly volatile.
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Tables Of Contents
- 1 Why is the Crypto Market so Down?
- 2 Raoul Pal The Crypto Market Is About To Go Absurd Interview:
- 3 Will the Crypto Market Still Explode in 2022?
- 4 When will the Crypto Market likely Go Up?
- 5 Is it Good to Invest in Cryptocurrency Right Now? (Dip Period)
- 6 What are the Best Cryptocurrencies to Invest in to Make You a Millionaire?
- 7 5 Biggest Crypto Mistakes to Avoid:
- 8 Conclusion:
Why is the Crypto Market so Down?
There have been a lot of events that have unfolded over the last month and this has included crypto coins experiencing massive fall in prices.
Bitcoin dropped below $35,000 on Wednesday night as soon as the news about a special military operation taking place.
This fall in price has taken bitcoin to its lowest price since July last year.
Also, coins like Ethereum and BNB have experienced massive falls in prices.
Bitcoin has been priced at just above $38,000 for most of the year while experiencing slight changes in prices from time to time.
The fall below $34,000 has taken bitcoin to a new low.
Also, the market crash is caused by various government officials who increasingly show interest in putting stricter regulations in place and also extra involvement in the affairs of digital currencies.
This is not good at all for the prices as Ethereum has followed bitcoin in a similar dip fashion in recent weeks.
Bitcoin has fallen from its $40,000 threshold to $34,000 this week, let’s see how it fares in the near future.
Raoul Pal The Crypto Market Is About To Go Absurd Interview:
For those that don’t know who Raoul pal is, here’s a little insight for you. Raoul Pal is most popular for being the CEO of Real vision, which he co-founded in 2014.
Real vision is a company that mostly educates its subscribers on financial topics and other related studies using a video platform.
It is a paid membership platform and it encompasses some good features like wonderful video content, easy accessibility, and also a number of written educational content.
Raoul has been in the financial industry for a very long time.
And some even argue that he has been in the financial world much longer than the birth of the cryptocurrency industry which took place in 2008.
Raoul also has numerous research publications and they also require payment before you can get a hold of them.
Back to Raoul Pal’s interview, he began his interview by talking about the asset that started the building of the crypto community.
I’m sure most of you already guessed right, bitcoin.
Years passed after this and the cryptocurrency sector has grown to become a diverse means of capital, flowing into different places with numerous profits to be made.
Raoul pal provided a lot of insight as he has a lot of profitable expertise and knowledge in the cryptocurrency sector.
It is no news that cryptocurrency continues to be at the center of a lot of financial conversations as it is gaining more and more popularity every day and it has an ever-increasing market cap.
There is a lot of thirst for Raoul Pal’s insight into the cryptocurrency market.
Raoul Pal can be likened to a bridge between the cryptocurrency market and the usual traditional market for mainstream people and he can also teach them how to understand crypto and all its potential.
Also, during the course of this year, Raoul pal is poised to continue taking part in these educational interviews.
He is also having his Twitter interactions and teaching sessions with his large Twitter audience. Also, he continues to run Real Vision as its CEO.
Will the Crypto Market Still Explode in 2022?
You cannot deny that every day the crypto community keeps growing stronger and very soon they will be unstoppable.
Bitcoin, which was the first cryptocurrency, has grown over the years, and to put that into perspective, it has grown over 80% since last year.
The capital generated by the crypto market has grown and exceeded over $2.5 trillion.
Various crypto assets are used to hold some of the largest funds for investing in the world.
If you look at the trends and factors quite closely, it all points to the market going on an uptrend.
This is why a large number of investors try to find out which cryptocurrency tokens will hit the mainstream next.
When will the Crypto Market likely Go Up?
There is no exact telling when exactly the cryptocurrency market is going to go back up and high flying again.
The charts however suggest that most of the coins are going to be doing quite well before April ends.
and now is quite the best time to invest and get acquainted with the cryptocurrency market as a whole.
Is it Good to Invest in Cryptocurrency Right Now? (Dip Period)
In order to grow your wealth as a cryptocurrency trader or investor, you need to be very patient and knowledgeable on entry points.
There are different cycles and compounds that the crypto assets follow most of the time.
It is no news that long-term investors in cryptocurrency tend to gain much more money than short-term traders.
Most traders make use of technical analysis to predict the future patterns a coin would most likely take up.
This depends on its trade volumes, historical performance, and various other indicators.
What are the Best Cryptocurrencies to Invest in to Make You a Millionaire?
As the year goes on, there are quite a lot of new crypto assets which are fast becoming mainstream assets.
They look likely to provide good profits in the next couple of months.
A few cryptocurrencies you should definitely take note of this year if you want to become rich are:
This is the most promising cryptocurrency to buy if you need to make profits and also the coin is very stable.
#2 Binance Coin (BNB):
This is the best cryptocurrency to make use of if you want to make some long-term gains.
#3 Lucky Block (BLOCK):
This is one of the best crypto projects to get in on and it has a very huge potential.
#4 Cardano (ADA):
This is another great crypto project with an excellent development team.
It is a very promising project.
It is a cryptocurrency that is very useful for metaverse exposure. Also, it is very cheap too.
5 Biggest Crypto Mistakes to Avoid:
Many people make some terrible mistakes when making an investment in the cryptocurrency market for the first time.
I’m going to be addressing five of them so you know how to avoid making such mistakes.
Making an Investment Because the Price of a Coin goes up (FOMO):
A lot of individuals make the mistake of investing their money in crypto just because its worth has recently gone up.
Most people do it due to the fear of missing out. One of the things to take note of is that the majority of these coins do not last long.
Cryptocurrency is always volatile and that is just how the cryptocurrency market operates.
Making Your Investment even Without Researching the Coin:
There are criminals who try to make use of the cryptocurrency community to lure numerous investors in order to make some quick money.
I’m sure you are acquainted with the creation of shit coins, they launch a coin and promote it very publicly and some even go as far as making use of celebrities.
They however take all their investors’ money and scam when they have a lot of money invested.
You definitely need to do your research before investing in any coin at all.
Investing in Only one Type of Cryptocurrency:
There is absolutely nothing wrong with this, there is absolutely nothing wrong with starting your cryptocurrency journey with just one type of coin.
However, you definitely shouldn’t rely on just one coin and it doesn’t matter how well and enticing the coin is at the time.
it is still a very risky decision to put all of your investments on one coin. You put yourself at a higher risk by doing that.
Following the Trending Cryptocurrency Hype too Deeply:
Sometimes celebrities run promotions for some cryptocurrencies and this makes them become mainstream.
This further creates a certain hype on the said coin which leads to a whole load of publicity around the said coin.
Most times, these types of coins are bad for you.
The fact that there is a lot of publicity around them doesn’t necessarily mean that they are a good investment for you. a lot of people have lost a lot of money that way.
Buying Coins because they don’t Cost much:
It isn’t smart to buy coins just because they cost a small number of dollars and you want to own a whole figure. Some of these coins aren’t worth it.
I know some people can’t afford to invest a lot in crypto but most of the time it’s more profitable to buy just a fraction of a high prospect coin.
Buying a lower-priced coin may mean buying a less established coin which may prove harmful in the future.
It goes without saying that the cryptocurrency market is very volatile and isn’t easily predicted.
But you should definitely take note of these errors you shouldn’t make if you want to be a successful crypto investor.