Crypto World’s Biggest Big Bang news this December
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On Dec 1st, there were two very exciting happenings in the crypto world that would have been definitely noticed by crypto enthusiasts and investors. These happenings were related to the 1st largest and 2nd largest crypto by market cap;ie, BTC and ETH.
BTC had surpassed it’s previous All Time Highs(ATH) of 19658$ which it touched three years ago on Dec 17, 2017 and Ethereum finally had phase 0 launch of ETH 2.0 with its genesis code deployed. These news are HUGE for crypto enthusiasts, particularly me who has been in this space since 2018.
A new Era with BTC poised to make new Price discoveries!!
BTC surpassed its ALL Time High price of 19658$ on Nov 30th
A new Era begins, as BTC forms a fresh chapter in its price movements. We have to keep an eye on price movements of BTC everyday from now on, and make calls on when to sell a portion of BTC, as it rises higher from here. For people like me who have been following Crypto seriously only since 2018, it’s a little overwhelming because till now I had some guidance in understanding BTC’s likely support and resistance ranges analysing BTC’s past historical data till BTC’s ATH price levels of Dec 2017- 19658$.
Now, with BTC poised to make new price discoveries, there is no guidance for its future price ranges in terms of tried and tested support and resistance levels from it’s previously charted price movements. Now, crypto enthusiasts are taken into new uncharted territories as a fresh crypto adventure awaits us all.
Dilemma on whether it’s wise to sell BTC this time around if it’s serves as Digital gold!!
Image by MichaelWuensch from Pixabay
For ETH, there is still past data on next support and resistance ranges till ETH crosses its ATHs of 1434$. I have not sold my BTC since more than a year having purchased it at 10,000$, 9000$ and 7000$ ranges and I still don’t know weather I should start selling BTC this time around when the live bull raging price action unfolds.
I only know that experts say BTC would definitely touch 1,00,000$ range. If it’s a hedge against fiat currency and there is going to be a supply crunch, I don’t want to sell BTC for now. Maybe, I will get cues as time progresses. Now, we would know whether BTC is really going to be considered as digital gold, will the dollar value fall off so severely that people will be forced to hedge against it.
Gains from crypto investing for Smart investors
The crypto investors who make gains are smart investors, not just a plain crypto enthusiast. They keep track of their portfolio of crypto investments and have a game plan. Reading price charts and getting a hang of doing basic technical analysis helps as they give you cues on price movements, volume, percentage of price gains and corrections etc. It’s always better to book some profits then not booking profits a tall, so selling cryptos when they rise big is a good habit as is setting target price ranges to sell cryptos while making profits.
These days, there are tools for free to keep track of your crypto portfolio and do some technical analysis. Popular crypto price tracking apps like Coingecko, Coinmarketcap enable investors to keep track of their crypto investment portfolio, set price alerts so investor knows when the crypto has reached a certain price range which was their target price to sell or buy that crypto.
Tracking of your Crypto investment portfolio in crypto price tracking analytics sites like https://www.coingecko.com/ and https://coinmarketcap.com/
Investors can also study crypto price charts in trading view and get signals on crypto’s price movement by doing Technical Analysis or TA. TA can give signals on the possible crypto price phase - weather crypto price is correcting, accumulating before a possible price rise or is over brought or has touched a price level that signals it’s a good sell point/buy point. Experience hardens and wisens investors, we also learn from our mistakes and play taking calculated risks.
