Millennium Generation and some advice for Investment in the World of Cryptocurrencies
Who exactly are the Millennials and what age range do they cover? 18 to 34 year-olds today across the world are known Millennials. This generation is the same generation that is very friendly toward the world of technology and welcomes new technologies more than others. According to different global surveys, the Millennials’ knowledge of cryptocurrencies is much more than other age ranges. Also, a considerable percentage of them are interested in investing in this market. Though their investing amount is not much, but their tendency and interest in participating in these markets can be a good sign of a bright future ahead of cryptocurrencies. In the following, there are some advice for Millennials about investing in different crypto markets.
Be Wary of Bots
Many of the current bots in different fields of economic and business activities manipulate data and price news. These bots can have amazing effects on the supply and demand of the market, and if you choose your analysis and news sources for activity and investment in the crypto world from these bots and do not have access to precise and informed sources, you might get exploited and you cannot make the right decisions about your trades and activities.
Have an Investing Strategy
In order to begin activities in the crypto market, you need to have a precise and certain strategy. Do not act based on feelings and do not fall in the pit of market turbulences. For example, you should know that the increase in the price of one cryptocurrency always leads to a decrease in the price of another. Remember that as well as having a precise look on the market and attempting to analyze the news; you need to have your own strategy in investing and invest a certain amount in the crypto market that if this market undergoes turbulence, you would not lose all of your assets.
Do Not Be Afraid, You Will Not Miss Out
In English, there’s an expression that is referred to as FOMO. This expression means fear of missing out. Therefore, if you see people are leaning toward a certain market in the crypto field, do not follow blindly. The crypto market is not predictable at all. The turbulences of the crypto market in 2018 and the decrease in the value of a cryptocurrency such as Bitcoin show you that you cannot depend on the new waves in this new field. So, enter the crypto market with a private strategy and try not to be affected by the atmosphere. For instance, perhaps your aim of the investment is using a nominal amount of money in a market that can have positive results for you in the long run. In this condition, you should not engage in hurried buying and selling Bitcoin, Litecoin or Ethereum. under the impact of the market atmosphere. Be patient and do not get distance from your strategy.