Hello people, although Ive only been trading crypto currencies for about a month now, I have learnt a lot. I have made good money on the regular stock market many times but to be honest, my regular stock market profits(although good) are boring compared to whats possible dealing crypto currencies.
What I dont understand is what gives these coins their price other than basic supply and demand?. I just dont get the fundamentals of this market. For example, what makes an Ethereum worth $1000?. How do you know thats what it should be worth and not $500 for example?. Again, other than supply and demand.
I have about $10,000 invested so far and want to invest more but Im always scared that I will wake up in the morning and find that the US has banned or is working on banning them and that will make the crypto market crash beyond repair. Even with the latest crash, I havent lost money yet but the market is too volatile. Too many inexperienced traders in the game trying to get rich. Although, I dont mind taking risks, I dont want to throw money either. To the people who have substantial amounts invested, how do you deal with the fear that this market is so volatile like and any major bad news could lead to you losing all your money. Definitely a very risky market compared to the regular stock market. Do you see this market lasting a few years without government interference?.
Any insight would be appreciated
Personally, for everything there is simply, you need to set a clear target how much you want to earn, and understand that you can lose your money in this market. But here the last correction was really hard for me, I almost sold the coins at a low price