With the crypto market being at a heavily discounted phase from its ATH right now, Bitcoin advocate and former VC of Bitcoin Foundation, Charlie Shrem shares how exactly one can make the investment and earn in this unpredictable and volatile market.
Here is how you do it
Cryptocurrency market is highly unpredictable along with being extremely volatile. A majority of the cryptocurrencies are currently available on a severe discount as they took a plunge of about 60 to 90 percent since their All-Time High (ATH). This may deter the people from investing in the nascent crypto market.
However, according to the former Bitcoin Foundation Vice Chairman and Bitcoin advocate, Charlie Shrem, one needs to learn about the market and put their stakes in them. Recently, in the MoneyShow conference in San Francisco, he shared the trick to making the investment, stating:
“Pick something in the top 10 or 20, and look at those, learn about them, and take a stake in them.”
If we take a look at these top cryptocurrencies, Bitcoin is the leader of the crypto world at first rank. At the beginning of this month, a study shared by Yale University professor and economist Aleh Tsyvinski that was published by the US think tank, National Bureau of Economic Research (ABER) stated:
“Even if the investor believes Bitcoin will only have half of its historical performance going forward, she should still hold about 3.1 percent share of Bitcoin in her portfolio.”
Reportedly, institutional investors are increasingly recognizing bitcoin as a “valued investment opportunity”.
Also, read: Is Bitfinex Becoming a Ground to Whale Transfers and Price Manipulators?
Bull & bear market has a cycle, So hold your crypto
Moving further down the line, Ethereum (ETH), XRP, EOS, Stellar (XLM), Cardano (ADA), IOTA (MIOTA), Tron (TRX), and VeChain (VET) among others hold a strong stance with their constant developments, partnerships, and price movement.
Yahoo Finance further quoted him, giving the advice:
“Any crypto you’re going to buy, hold for five years. Say, ‘I’m going to lock this, and this money is locked for five years. There’s a high probability you’ll come out ahead in five years because usually, these bull and bear markets go in two-year cycles.”
Charlie Shrem has been in this market for a long time, in 2011, he co-founded BitInstant, a bitcoin exchange. He was also convicted of “operating an unlicensed money-transmitting business.”
The market is expected to see the bulls by the experts, especially with the Bitcoin halving coming in 2022. And the crypto market is usually known to follow Bitcoin in price movements.
Given the fact that Bitcoin is down about 65% from its $19,500 peak and the altcoins running between the 80 to 93 percent discount, this makes the perfect buy opportunity as it’s a matter of when not if when it comes to the bulls.
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