Up and Down Movements in the Crypto World

As an investors everyone of us wants the crypto market should always goes up. But that is not the case always, there is ups and downs in the market. Sometimes the market goes down quite low whereas sometimes it goes up unexpectedly. Like for example, we are waiting for the Bull market so that we can book some profits.

PC: Pixabay.com

I remember that the Bitcoin went upto 19K and then came down to almost 1K and again went upto above 60K before coming down to 15K and then rose to 45K. So this is the ups and downs which we have to take into account before getting into the crypto market. A lot of people earn money because they can sense the ups and downs of the market or the volatility of the market and thus they can invest their money accordingly.

There are some coins which rise upto 100% in the single day and these coins when seen from the outside seems like a good way tonearn money. I have lost some money in these coins because they are sometimes part of the pump and dump scheme. Where a lot of group pump a coin and the coin goes upto 100% and then once most of the people generate some income, they sell it and thus most of the peoples money is lost who is not part of their pump and dump scheme.

So the coins which is going up doesn't mean that the coin is good. To know a coin is good or not we have to actually see its use case and how the coin solves some of the problems and if the valuations looks good of the coin. And because of that I do not invest my money in the random coins anymore and only invest in some of the good coins like Bitcoin, Etherum or Hive.

Posted Using InLeo Alpha