Lets face it. We are in a bear market right now. Probably it wont be that excessive and long like 2013/2014 till 2015, but still its quite possible that it will take time till the market recovers and the sentiment finds a shift to be positive again. And beside the current price of BTC , there is more than enough to be bullish and eager to look forward for the future. Many new technical improvements are on the way to find wider adoption and therefore interest of BTC and Cryptocurrencies in general.
So what to do in times like these? Well, this is one of the best time you can get in order to learn, reflect and adopt. To analyze all the misstakes or good trades you may have made. To improve your TA knowledge. Or to understand the technical structure of BTC or blockchain in general. Do you know what the difference of BTC and ETH is? And can you describe it in 2 sentances to a no-coiner so he wont look at you like you are a complete alien?
But of course, we are here also to profit from this ride and if you are rather new in this game or cant figure out what it takes to differ from a bad project to a good one, then now is the time. Now is the time to learn, adapt and to plow the field for the next big run.
- Learn basic TA.
- Learn the technology behind BTC
- Learn how economics and (crypto)markets work
- Find your own strategy, adjusted to the finacial possibilities and risko mangement you have.
- Have a goal
I want to show you some sources and tools so you can invest your time more effieciently and focused orientated in order to reach your goals.
— — — — — — — — — — — — — — -
- Technical Analysis
Before you enter any trade or investment you should ask yourself: Why do I should to put money into it? And what is my goal?
A way of risiko mangement is the use of TA. It cant predict the future, but it can give you a view of the current sentiment and may show the trend in short or long term perspective. Its essential to understand TA, if you want to trade any coin in the top 200 of the crypto market. Otherwise you do nothing else than gambling.
- Overview: Beginner guide by Bigchads: https://tinyurl.com/y9xl58go
- Cryptocred Tutorials: https://tinyurl.com/y9swkp7q
- A wikipedia of TA and tutorials: https://www.investopedia.com/uk/
- One of the Gold standard of TA: Technical Analysis of the Markets
- My link collection of various TA scenarios: https://medium.com/@SalvaZenN/various-ta-links-43a076e3de91
— — — — — — — — — — — — — — — -
2. Technology and economy
Read about the origins of capitalism and how it evolved from smith to marx to freaking buffet(I dont like him but you get a hinch how things may work in speculative markets). Also get the understanding how banks work and what the real value behind money is.
- Books: The Bitcoin Standart
- The Internet of Money
- Mastering Bitcoin
- Nick Szabo on the origin of money and the founder of smart contracts: https://tinyurl.com/y9d8v3ul
- Bitcoin Whitepaper and very useful links: https://nakamotoinstitute.org/
- Various links to read: https://tinyurl.com/y7n9su7b [] https://tinyurl.com/y9bpso3f
— — — — — — — — — — — — — — — — — — — -
This is part 1. If you are interested for a part 2 and how to find your own strategy especially in the cryptomarket without blindly following someone, then let me know on twitter.
— — — — — — — — — — — — — — — — — — — -
