Bitcoin and Cryptocurrency have been around for a while now, and in this article I will share the secrets of my success with you. You will learn how Bitcoin and cryptocurrency can create life changing money from a small amount of money. Disclaimer: This is not financial advice and i’m not a financial adviser, this is just my experience with cryptocurrency. Always seek advice from a qualified professional!
If you are reading this article, you probably already know that Bitcoin and Cryptocurrency is the hottest new technology on the planet right now. The technology that powers this new innovation is called Blockchain. Blockchain technology uses cryptography over the internet to allow the sending,staking and receiving of payments.
There are many other cryptocurrencies around today, but Bitcoin was the first and is seen as the king of cryptos. To Learn crypto, you first need to understand that the Bitcoin and crypto currency markets move in cycles.
Bitcoin And Cryptocurrency Market Cycles
The markets follow trends and below I have explained in simple terms what they do.
- Bitcoin and crypto markets go through two distinct cycles;
- Bull Market = When the overall market is in a uptrend and the value of digital assets are increasing in price.
- Bear Market = When the overall market is in a downtrend and the value of digital assets are decreasing in price.
When there is a Bull market, it tends to be just after the Bitcoin halving event. The bitcoin halving is every 4 years and below is a list of the halving events that have happened so far. The Bitcoin halving refers to when the block reward is halved, meaning that every 4 years you get half as much Bitcoin as a miner per block.
There is also two different seasons in a bull market. The first is Bitcoin Season: When Bitcoin is the dominant cryptocurrency and prices are climbing higher. The second is Altcoin Season: When all other cryptocurrencies are climbing higher and Bitcoin is not doing much price action. You can see this website showing you the two different seasons in the market HERE. https://www.blockchaincenter.net/altcoin-season-index/
How To Buy And Store Bitcoin and Crypto
Before you can start buying Bitcoin and cryptocurrency, you will need to sign up to an exchange. The best crypto exchanges are;
- Coinbase is an easy-to-use crypto exchange with a small amount of cryptos on offer to buy and sell.
- Binance is a more advanced exchange where you can buy tons of altcoins and even stake and earn passive income (*Recommended). JOIN Binance Crypto Exchange HERE
To store crypto offline and keep your private key/crypto safe,you will need a hardware crypto wallet. The best,secure and easiest to use is the Ledger Nano S,they are less than $100 dollars and worth every penny. CLICK HERE to visit the Official Ledger website
Bitcoin & Cryptocurrency Accumulation Periods
When it’s a bear market and nothing much is happening, and prices of cryptos is generally low. You should be buying cryptos ready for a bull market. I invested a small amount of money just after the Bitcoin halving, of about $2000.
The alt coins that are worth looking at, are usually low market cap and low supply of tokens. So an altcoin with a market cap of $100-$200 million or lower, with less than a couple of billion tokens can be a real gem when its alt coin season. Bitcoin on the other hand has only a 21 Million supply of Bitcoin, giving it scarcity. This is why Bitcoin is quite often referred to as digital gold.
When it’s a bear market people generally buying crypto every week or month. If you buy as the price of cryptocurrency is dropping, this is generally seen as dollar cost averaging. When it’s a bull market people fall into the trap of buying cryptos as they are pumping upwards, this is the wrong way to do things. If you buy a pumping coin like e.g. Doge coin, there is a chance that you might be buying near or at the top. When the price drops 30-50% you will panic and sell.
Learning About Bitcoin and Cryptocurrency Is Easy
So I mentioned that I invested a small amount of money and managed to get a massive return on it. I learned how to do this by enrolling firstly on a FREE course and then signed up to a monthly subscription with a online crypto training company.
The secret methods and tips in the courses they offer are brilliant. If you combine the course with the members forum, you gain lots of knowledge and the key to success. If you want to learn crypto and gain valuable knowledge from a trusted company based in the UK, you can click the link below for more info. *You will also be supporting this website in the process.
Learn Affiliate Skills
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Thanks for reading my short article on How I Turned $2000 Into $24000 With Bitcoin And Cryptocurrency.