The good part is that the profits can be amazing and fast. But the risk is high. If you add to volatility not know in what to invest, why and when can terminate your carrier as a crypto investor very fast.
So, take this to the heart: don't invest in crypto with the mentality of a gambler. Many did this especially in December 2019 when bitcoin reached the all time high. So many though the price increase will continue. But, soon after the price crashed. It was expected by many traders. Even simple technical analysis had predicted the crash.
But, the thing is that trading any value (crypto, shares) is not a game of hope. Emotions can mess up even with the best trading information right in front of your nose. So, consider to keep emotions balanced. Greed is the number one enemy and it is the sign that you are gambling and not actually trading.
Let's get over this long intro.
Here is how to invest in Cryptocurrency even if you are a newcomer and don't know what to invest in, why and most importantly when.You have a few options. All involve a mix of things: technical analysis, following marketcap, market sentiment and market conditions. Now, the slow approach is to study these first and only after you get a really good hang of it and your predictions are most of the times accurate, only then to start trading. This is the slow road.
The faster approach is to start studying all these components, while subscribing to one of the payed services where they do all the analysis for you. Basically you get feed the "in what and when to invest". Take in consideration that even these services have a margin of error. And the professionals that offer such a service in an ethical way will let you know that. So, don't buy into hype claiming that they are always right.
Long story short, here is an example of such a service that can get you started with trading crypto right away:
Here is an overview of their calls and how often they were right and wrong:
This looks like in 2017 they were right in 96.7% in the cases. In 2018 they hit 97.7%. And in 2019 they got right 96.5%, so far.
Do you think you can have a better percentage on the right calls? Because I sure can't do better than that with what I know now.
They offer reports and updates every few days. They announce what is coming and usually their price prediction are pretty accurate. To play it safe, they mention usually price ranges.
It is up to you to make your game plan. Also, you can ask the questions once a week on their live webinar.
This is not the only place offering this kind of service. It is the one that I am using and can recommend based on my experience. Feel free to check the others and make your own choice if you are into trading.
Now get moving. Next wave of all time high in crypto is around the corner.