How to Learn More About Cryptocurrency
Home Business How to Learn More About Cryptocurrency

How to Learn More About Cryptocurrency

by Eric
336 views

As we head into the summer hungover from the Great Crypto Crash of 2021, many arguing over bulls and bears, and whales. Is the market headed for recovery, or will we enter a long bear market? If we recover, will it be a real recovery or a “dead cat bounce,” meaning a false recovery before we slide down further into a bear market?

Beginner investors might find themselves lost in the sea of information that is the cryptocurrency ecosystem known as the crypto space and baffled by the technology behind this new phenomenon called the blockchain. Newbies can have access to any investment advice, but one should do one’s own research before making any trading decisions.

What does the internet have to say?

What does the internet have to say

Because the cryptocurrency market is volatile and has only been around for a little more than ten years, books can be outdated. By the time a book about the crypto space has been published, the whole ecosystem has changed. Rather, the internet is a much more up-to-date tool for the rapid fluctuations of the cryptocurrency market.

Websites like CryptoVantage are a great place to start. Visitors can learn about decentralization and blockchain technology, digital currency, and other digital assets, like non-fungible tokens. They can also read articles about the current state of the market and get reviews on cryptocurrency exchanges like Coinbase and crypto wallets like the Trezor Model T.

Even more current than websites but with varying degrees of professionalism would be social media: YouTube, Twitter, Facebook, Instagram, and Reddit. Crypto pundits track cryptocurrencies like Ethereum and try to make predictions based on Fibonacci triangles, Japanese candles, and other market indicators.

The downside of using the internet to learn about cryptocurrencies is that it forces one to spend even more time online as if we were already over-digitized after the lockdowns of the COVID-19 pandemic. That, coupled with the fact that cryptocurrencies can only be traded and transferred into some storage, hot or cold, through internet technology, increases the risk of becoming some couch potato or office plankton chained to a desk, never venturing outside but only surviving through ordering-in fast food and utilizing a water delivery service.

Offline Sources

Offline Sources

Even though the specifics of what is happening in the general cryptocurrency market and crypto space and what is happening with the individual coins and tokens need to be timely and, therefore, delivered via the internet, there are some more general sources of information that can be timeless and, therefore, online. One could argue that long-term investing is, by its very nature, timeless.

If you are 100% convinced that a digital asset is going to increase in value over the next five, ten, and twenty years, then you do not need to concern yourself with market fluctuations. While information about that particular crypto project might best be found on the internet, through online articles and white papers, you can find the actual philosophy behind long-term investing and the real-life examples of the success of that philosophy in offline sources: books, magazines, newspapers, films, etc.

Warren Buffet and Peter Lynch are not primarily cryptocurrency investors; they are primarily stock investors. However, they are embodiments of the success of the long-term philosophy, and while they try not to get hurt by bull-traps and dead cat bounces, they do not make that the center of their investing strategy. Furthermore, most of the market terms being applied to the crypto space, including bull-trap, dead cat bounce, bull-market, bull-run, bear-market, and whale, are borrowed from the older markets of the stock market and the bond market. Trillions of dollars have been won and lost in these markets, and there is a great deal of wisdom that players in the crypto space can glean from them.

Related Posts

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More