Hi!
This article is a short summary of my personal ideas as a new BTC investor, Hive user, and blockchain researcher.
I am not a professional in this technology, not a developer, just a simple person expressing his thoughts. The Hive ecosystem has valuable info on crypto from where you can collect your information from.
Here are my thoughts related to cryptocurrencies and blockchain for now and for the future.
The cryptocurrency market has grown in recent years globally.
What are they?
Cryptocurrencies are secure digital currencies, mostly based on blockchain technology, a kind of registry applied to a disparate network of computers, which makes them almost impossible to counterfeit and even steal. The best known is Bitcoin, created in 2009 by Satoshi Nakamoto, if you want to believe this story. I personally don't.
But let's skip that.
I believe that long-term investment in this cryptocurrency can bring big profits, I've read opinions from people estimating that the value of BTC could reach hundreds of thousands of dollars in 2024-2026.
The crypto market
Status: Currently, the cryptocurrency market is in a period that experienced investors claim to be one of accumulation or correction, in which prices have fallen, after in April this year Bitcoin reached its highest value in history, reaching the All-Time High (No. -ATH, the highest value of all time) of $ 64,805, after a period in which it increased steadily. For about three months or even 4, the global capitalization of the crypto market is 1.33 trillion dollars. Experienced investors say that now is a good time for those who have not yet invested, but want to do so, even if it may seem counterintuitive, but recommends that they first learn about blockchain technology and the cryptocurrencies in which they want to invest. We are now at a time when there is some rest in the market, Bitcoin has reached 60,000 euros, dropped to 30,000, and has been hovering around 30,000-40,000-50,000 for a few months. At this moment it is 54,661.4524 USD. And somehow, the world is pretty deflated now, because most people come to this industry hoping to make money fast.
My opinion .... and that of others is this: if you want to invest, do it as much as you can afford because you will make mistakes anyway and then it is good that those mistakes do not take you out of the game completely, but be your sources of learning. I don't know if it's necessarily a matter of how to avoid mistakes, but rather of making those good mistakes from which we can learn. Big mistakes are those related to greed.
Some cryptocurrencies can be a profitable long-term investment, such as Bitcoin, but others can be real pitfalls. You could see this year the case of Dogecoin, a cryptocurrency that has been intensely promoted on social networks, but which does not have the potential that some bet on, which has led to huge losses among some investors. This failure is due to misinformation: people trusted Elon Musk, and did not analyze and research this digital currency before buying it.
I think people should realize that just like any other type of investment, it takes some time to inform yourself and understand what is happening in the industry, otherwise you risk flying over the story and you will say: "I'm putting money into this because Elon Musk said so." But you don't have the whole context and you risk a lot.
It's simple! So is the advice of experienced investors in the field, those entering the crypto market should be very well informed before investing in a digital currency.
You need to have enough discernment where you get your information from. I think this is the first step. People should realize that things are not as complicated as on the stock market. This area, although it seems more "edible", has its peculiarities and it takes some time to understand a few things, at least the basics, before investing money. It's good to quickly realize things you don't know, but it's important to know. And in Hive, there are starting to be quite a lot of fairly credible and well-structured sources of information. I think it's okay for people to look at decentralized channels, Quora, Reddit, Minds to find out if there are people who transmit information and who, at least in the first phase, seem trustworthy, they will later find out if that person knows what he's talking about. It took me about 1 week to find the most reliable crypto Hive people that I can trust with reliable and new information. But there are much many around here, amongst us. And I appreciate you all!
The Crypto Wallet - Other simple steps:
source
Many recommend long-term investments, especially for novices in this field, and investors also have the option of "depositing" their digital currencies - which goes for staking - and depending on the cryptocurrency and the platform on which they do so, they can collect interest if they do not touch the digital currencies for a certain period.
On buying and trading platforms, cryptocurrencies are stored in a virtual wallet, which normally only the person who opened it can access, this is a hot wallet, which can only be accessed through certain personal data. But there is also the possibility of storage in the cold wallet version, on a hard drive that is not connected to any network, this option being considered safer by some experienced investors, especially for those who have invested large sums of money.
I tend to be one of the investors who claim that Bitcoin could replace gold as a store of value (an asset that retains its purchasing power in the future), which could bring the value of BTC to hundreds of thousands of dollars.
If we, the long-term investors, are right in this regard and it will reach hundreds of thousands of dollars, on the time scale it will matter less if you bought at 30,000 or 32,000 because the profit will be significant anyway. So, in 2026 you will not think that you would rather take it on July 17 than on July 11 because it was 4% cheaper.
Blockchain, present, future...thoughts
Blockchain technology and cryptocurrencies are constantly evolving, and they are here to stay, as they offer opportunities both in terms of the development of state institutions and in terms of the labor market.
I believe that there will be no industry in the next 5-10 years that will open more opportunities than crypto and blockchain. In blockchain companies there are not only technical people, engineers, these companies need PR, marketing, copywriting, operations managers, a lot of people who are non-technical.
1st layer, 2nd layer: Hive, Leo, BTC, any other Crypto Investments.
What advice would I give to those who want to invest in this market but are still reluctant? I advise them to document themselves well. I do not recommend people to invest in any particular cryptocurrency, although they may be very good short-term opportunities, but at the same time, given the volatility and the fact that it is a free market, it is also very risky for investors who are not very informed. good. It may happen that some of the risk too much of the funds they have, and then the only investment that I consider very safe in the long run is the investment in Bitcoin and Hive with its tokens. My recommendation is to invest in the long term. In the short term, of course, anything can happen.
When is a good time for a beginner to make an investment and how would it be appropriate to relate to this?
When the market is down, when people panic and sell, those are, in my view, the best times to make a purchase. But at the same time, during the growing season, people buy a lot and then I recommend them to buy because you don't know where the All Time High is. I always look at long-term investment. It's hard to catch the right moment.
I recommend that you document yourself very well before investing, that there is no fear of missing the right moment because it can be very harmful. If you document yourself very well, you read about the project, what it represents, who created it, how it works, then you can understand it for yourself and see if it seems to be a good opportunity to invest or not. I see blockchain technology as a kind of internet in the beginning, when people didn't know what to expect, but nowadays the internet is part of our daily life. So is the blockchain, from my point of view, for financial systems, for governments. We, with the blockchain, are somewhere like we were with the internet in 2000 maybe, we were just beginning to understand it.
I believe that people should have normal, rational expectations. In the crypto market, however, the gains are much higher than in any other investment market, because the fluctuations are higher and we all know the evolution of the price of Bitcoin and other cryptocurrencies. And then the expectations should be, from my point of view, directly proportional to the time they dedicate to documenting and understanding the investments they make.
Let's see: In what context can you consider yourself a good investor?
In the context of earning and making money, right?
I think that a good investor is arguably choosing his investment, not sacrificing a budget that he could not afford, he carefully chooses the amount he invests. Of course, also to win in the long run. This is a good investor.
10 years from now when the CUB will be the King... opinions
I believe that there will be many national currencies that will be on the blockchain. People will have better opportunities to store their values, to transfer money, thanks to blockchain technology. I believe that financial markets will change in a positive way in terms of this technology. Bitcoin will be in parallel with all other cryptocurrencies because it will be the standard currency, from my point of view, it will be at a very high value and we will probably not talk about Bitcoin units, but we will talk about subunits, millibitcoin, or maybe even satoshi.
Thanks for reading!
Mike/Zpek
