By. Wayne Griffin
OK, so I use to panic about every penny I put into investments. I would monitor significant downward short-term trends like they were about to be a full market crash. This started me down the path of selling certain currencies too soon and losing more than I gained. This habit continued until I started to look at the historical data of certain coins and realized I was making a huge mistake. I forgot the incident that happened during my first experience selling Bitcoin. The price was around $400 and I was worried more about getting my money out of the mining rig so I could spend it on looming builds than saving for the long haul. The price hit $10,000 and I have spent all my coin. After this incident, I learned my lesson to always look at historical pricing facts.
Yes, a lot of investing is gambling. But are you playing with the house money or your own money? To see the future of a currency you must look in the past. Have you ever seen the all-time price for Bitcoin percentage increase? If nothing makes you purchase Bitcoin this should it’s the percentage it went up since its creation. If you see a percentage increase in the 200 range over a certain time period it may be a good idea to put your money in that investment over the same period of time. Another idea is to look in Coinbase at the average amount of time a currency is kept in its general stats area. There will be to come on these topics soon as I get into my top 3 picks for the week.