I heard at one point that some people who had bought Bitcoin, when it was very, very cheap, had lost the media on which it was stored, and then when it grew incredibly much they looked for it in dumpsters or hired people to look for it.
Did anyone think it would have such a value? Money or cryptocurrencies are valuable only when they have purchasing power. At the moment, the price of cryptocurrencies is lower than two years ago, for example. Compared to the last semester, it has increased.
So what to do? Should we buy cryptocurrencies? If the price goes down and we wake up with the money thrown out the window…?
If we had bought a cryptocurrency two years ago, Litecoin, let’s say, we would have lost about half the money this year, so it wouldn’t have been good. If we had bought this cryptocurrency 2 months ago and sold it today, we would have gained a third. Which means we have to take advantage of the high price to sell and the low price to buy. Or this is a rule that is also valid on the stock market, it has been valid at any time and will be valid for a long time to come.
When you are thinking of buying cryptocurrencies, think about selling some of them when the price is high and buying when it is low. That would be the rule that governs this market. Of course, things are much more complicated, but for starters this is the number one rule.