How to keep a calm mind in times of uncertainty
Bitcoin Cash seems like forever ago, but it actually happened in August this year, which is just two months ago. Bitcoin Gold, on the other hand, is brand new and still seems very scammy and unprofessional. Bitcoin 2X is also just around the corner. The third fork in then four months will likely happen on November 16th.
It is safe to say that times in the crypto world have never been more exciting (not saying the Ethereum Fork in the summer of 2016 was boring). The uncertainty is definitely a chance to set up our portfolios for the long run, but we shall be more cautious about trading now than ever. While it is certainly completely safe to buy and sell BTCs on exchanges, it may be risky to send them there. For example, one could send 1 BTC from her/his wallet to an exchange but only receives Bitcoin Gold because no replay on the Bitcoin ledger happened. Currently Bitcoin Gold gets traded at around $140 (https://coinmarketcap.com/currencies/bitcoin-gold/). This would result in a loss of almost the complete BTC therefore.
So, what can you do? At this very moment it is the best strategy to keep your Bitcoins in their wallet. If they are already on an exchange, it might not be a bad time to buy more altcoins with it, although we are not expecting the prices to change significantly until the Bitcoin SegWit 2X fork in about three weeks. After investors receive their “free” money for the third time this year, there is a good chance, altcoin will gain in value again.
But even then it is important to keep your portfolio balanced as we laid out before. Going all in into one or two coins may work with small amounts of money but just imagine holding zero Bitcoins over the last weeks, while all Alts lost value when BTC climbed up almost 50%.
Always think long term when you invest in crypto currencies. This is the very beginning of something that will change our world more than the internet did. You got in early. Realize this and never forget the big picture. It does not necessarily matter what the market does in the next weeks or months. Rather think in years or even decades and ask yourself which coins will hold value then. While Bitcoin and Ethereum have the biggest chance to play a significant role in 2025, other Alts have a chance too. Especially NEO, Monero and IOTA come to mind. New ICOs might change the world as well, as Edge plans to do it in education.
If you want to learn more about our upcoming pre-ICO and the concept behind it, please visit us at:
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