If you are into the trading realm, you know how good the time for Bitcoins is running. Bitcoin trading is at its best these days and is not showing any feeble sign of slowing down. If you are ready to invest, well this is the best time you can trade your bucks.
Cryptocurrencies are available in big numbers, but you do need to have a strategy to put behind them. From HODLing to DCA Bitcoin, the chances are many. So, what is it, which you should choose? Well, you can choose it yourself by just going on through the lines of this post.
1. Have You Ever Heard About ‘Hedging’ Your Bets?
It is clear to you that Bitcoin is volatile and chances are lying of you losing your money. That is where ‘hedging your bets’ come, which can mitigate your risks as you open a trade and hedge your bets. Sounding damn confusing, isn’t it?
In short, you are going to sell your Bitcoins so that when its price goes down, you can buy them back. Of course, you will buy it at a lower rate and that is where you gain profit. However, it has its risks just in case the price goes up instead of going down.
2. Trade With The Trends To Reduce Risks
Have a sharp ear so that you can hear when they talk about Bitcoins. To say, trading with the trend means to stay updated to know whenever the hype goes up. As for cryptocurrencies, more hype and publicity results in more values of them. You can also rely on the different analysis reports to guess about what comes tomorrow in the trading market.
3. Dollar-Cost Averaging Is The ‘Slow But Steady’ Game
DCA or Dollar Cost Averaging is how you should invest if you are looking for long innings. Unless you are looking for speedy returns, this is the best way for making sure you get the rewards of patience. All you do is to trade your dollars into the trading world and hold your breath. The famous ‘tortoise investor’ title will go to you once you can dig out impressive returns through DCA Bitcoin.
That brings the end to three of the best Bitcoin investment strategies for 2020. Pick the one that makes you confident about your money. So, which one will you like to go for this year, Mr. Investor?