I observed that the cryptocurrency market is a kind of green at the moment, but as a beginner, I still find it difficult to tell when the market is actually bullish. I will appreciate any advice from fellow community members concerning this current situation because I'm considering to buy some coins but finding it difficult to decide on which coin to give a trail.
Just a kind advice, the risk is mine.
I'll give you the kindest advice, be prepared to have some unrealized loss in the beginning. Go for averaging out, suppose you have 10k to invest. Just go with $2500 on your first buy. Then wait for market to go down if it does buy another $2500. Remember the point is to buy in the bearish times and not in the bullish times. Suppose you were wrong and market did not go anywhere near that point ladder your buy if you see a complete reversal of trend. These are the small tricks that can help you earn and stay in the market because no one has a holy grail as to when will market reverse. Also best is to be in bitcoin as in all the situations it is impacted the least.
I also think the same, bitcoin is the safest way for us to be able to safeguard our money, there will always be doubts if it is time or not to buy, but knowing that bitcoin has a high volatility, you have to think about something, when bitcoin has reached an ATH of $70k, just think you can get there again or even higher, the ATH of Bitcoin are quite juicy, if a person buys bitcoin at this time, just reaching the ATH already recovers everything, but we all know That the next ATH of Bitcoin will be much bigger, that is something that everyone wants to enjoy, but to build that you have to act now.
If you have that patience and you have separated funds for your investment, by looking at that perspectives you will realize the potential that the chance of earning decently is really possible, it's just a matter of good understanding and how you will approach and handle all the possible risk that you will going to encounter during your investment period.
Overcoming fears and being capable to play with how the market works will give you extra advantages while waiting for the maximum potential profits.