These are tough times for our society. Probably all our readers are in these moments under measures to combat the Coronavirus, or will very soon. However, in spite of the situation, we must do everything possible to keep us active. For this reason, since CriptoTendencia we bring you the best tips to follow investing in Bitcoin at the time of the COVID-19.
Contents
1 – it’s Easy! First of all, calm
We know this can be stressful. The measures taken by our governments, though necessary, can make us feel as if the world was about to come to its end. And the fear-mongering that prevails in the majority of the population only reinforce that idea. But we must remember, above all things, that is not the end of the world. It is a difficult time in which the humanity is facing one of the biggest challenges of its history. But it is also a battle with a result announced: our society will prevail. Therefore, if you have already taken all the measures to avoid your contagion and your loved ones, you can be quiet. Relax, see some series, do some exercise at home or just listening to music. But before you even get close to your investment platform favorite, you need to calm down and put your mind where it should be. Only when the panic has passed and you are calm, you’ll be able to start investing again in Bitcoin, this being the first of our tips.
2 – Stay alert to what is happening in the world
Our second tip is to keep you informed of everything that happens in the world. The development of Coronavirus in most of the countries. Of the reports issued by the major international organizations. Of the figures of the public life that are affected by the virus. And, in short, of all the relevant data that may be of value in your investment. Remember that in the midst of a crisis like the one we are experiencing, the fundamental analysis occupies a leading place in the markets. Being the external events that end up defining the trend that they will have, whether it is bullish or bearish.
3 – don’t trust
As well as our first tip was that mantuvieses calm, our third tip is that you do not trust. Remember that we live in a period of great uncertainty at the global level. Which means that markets do not always act as we expect them to do. The best example of this is the fall in the price of gold and Bitcoin in the middle of the collapse of the financial markets this week. Thus contradicting the economic logic of traditional, tells us that, faced with a decline in traditional markets, the price of the asset book value should be maintained or increase. For this reason, you have to stay attentive to all the developments in the major world markets, including gold and oil. Remember that only the informed investor and calm, you have the possibility to take advantage of the opportunities that will present themselves in the Bitcoin market in the days to come.
4 – take Advantage of all of the financial products at your disposal
Our fourth tip of the day today is to remember that to invest in Bitcoin you shouldn’t always buy BTC. And is that out there there are plenty of financial products is different, with modes of operation that may best suit your needs as an investor. For this reason, we invite you to discuss the possibility of purchasing products such as Future Contracts on Bitcoin or Contracts for Difference of Cryptocurrencies. Which could maximize your profit or reduce potential losses of your investment.
5 – Take care of yourself!
Finally, dear reader, from the computer of CriptoTendencia we want to ask you to take care of, so this is our final tip. Do not underestimate the magnitude of what is going on with the Coronavirus, pay attention to the recommendations of your government (even if in a normal situation or adverse politically) and the World Health Organization. And, above all things, take care of your health and the health of your fellow. Follow the advice of WHO to stay healthy and continue to invest in Bitcoin. Remember that even if the Coronavirus does not have a major effect on you, you can end up being a means of transmission for other people that can end up very affected by the COVID-19. For them, wash your hands with soap and water, minimize your social interactions and do not echo false news that they believe disinformation in the population. If you don’t hold healthy, you will not be able to invest in Bitcoin, or take advantage of the great opportunities that will appear in the next few days.