How to Make Money in Cryptocurrency: Tips and Strategies - COINTURK NEWS
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How to Make Money in Cryptocurrency: Tips and Strategies

12:04 am (41 days ago)
August 12, 2023

The cryptocurrency market is currently experiencing a horizontal trend, except for a few altcoins that are showing positive divergence. Bitcoin is primarily responsible for this. Although shallow volatility increases investors’ stress, we have seen in the past that these periods of consolidation can lead to significant price breakouts. In other words, a major movement could soon begin. On the other hand, popular analyst Clark has issued an important warning.

Earning Money in Crypto

The first rule to make money in cryptocurrency is to avoid investment advice found on the internet. We have seen that many popular figures, who present low market cap altcoins as investment opportunities, deceive their investors. John McAfee taught this lesson to investors during the bull season in 2017. Those who were experienced enough fell into John McAfee’s traps and experienced it painfully. So what happened next? The biggest speculator in crypto decided one day to commit suicide in prison. However, this does not serve as a lesson to most popular accounts today. Perhaps they, like the majority of investors, have not been able to experience McAfee’s era, where they could learn a lot?

However, some analysts have different opinions. Particularly, the opinions of analysts who focus on fundamental analysis and make comments based on price movements related to events can bring profits to investors. Of course, what they do will not be to sell dreams and make attempts to market an altcoin.

Should You Buy Cryptocurrency?

Popular crypto commentator Cantering Clark believes that making money in this market is quite easy. According to him, the approval of Bitcoin spot exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) is turning these days into an opportunity period.

The popular analyst said the following;

“I love people who are still vehemently against Bitcoin despite being fully aware of the future of an ETF. Do you know how much money will be spent on marketing when these instruments are launched? This is a very easy long-term investment. Damn volume buyers just can’t relax. It’s as if no one has any real expectations in the near future.”

The price of Bitcoin is still moving almost horizontally at the time of writing this article. The price is at $23,374, and most experts claim that there will be no real reversal without daily closings above $29,951.

Disclaimer: The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and therefore carry risks, and they should conduct their own research before making transactions.

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