Perception Value Of A Cryptocurrency

I have started trading cryptocurrency during lockdown.

I had powered down and transferred most of my steem tokens to the exchange for trading of other cryptocurrency.

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A cryptocurrency may not have a fixed value unless it is a stablecoin that is pegged to a certain currency.

I often see a cryptocurrency has been stagnant at a certain price for a long duration, investors will take that price as a norm.

Sadly, most cryptocurrencies are still the followers of Bitcoin as we can see that the rise and fall for the price of Bitcoin would affect almost all cryptocurrencies.

That is why I often see Bitcoin being used in a chart as a comparison against an Altcoin.

Most of the so-called experts who analyse the possible price of cryptocurrency may often be wrong since no one can predict accurately so we should simply do our own research and invest only with our spare cash.

When we make a wrong investment, we simply need to wait for the price to rise.

A simple rule of the thumb that I read few weeks ago is it is always good to invest in any of top 100 cryptocurrencies at the coinmarketcap since they may rise sooner or later along with price of Bitcoin. This is a high probability but there may still be exception.

The perception value of each cryptocurrency may often depend on how long the coin stays at the same value since everyone will treat it as a standard price.

LTC is traded around US$40 now but there was a period when LTC was traded around US$200 few years ago.

I wonder when Bitcoin would have a perception value of US$20 000 by most people.

Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth. Images were taken from my ROR mobile game application.