Tip N1 – Identify the start of a Bull Run
Understanding the theory of a four-year cycle is crucial; it proposes that crypto bull markets tend to emerge roughly every four years, aligning with Bitcoin halving events.
As per Crown's analysis, our current position is within a pre-halving rally, expected to plateau around the low $40,000 mark for Bitcoin. The most significant price shifts are likely to transpire in the months succeeding the Bitcoin halving.
Following this period of heightened activity, Crown foresees a subsequent phase of approximately three to six months characterized by sideways and downward market movements.
Tip N2 – Choose Crypto Wallet
During a bull market, the activity of scammers and hackers tends to surge. To fortify your investment, opt for self-custody through a cold wallet.
Steers clear of storing your crypto on wallets with no recognizable reputation.
Additionally, factor in your requirements; for instance, offline wallets provide heightened security but may be less flexible. Conversely, online wallets offer extensive flexibility in terms of accessibility at times. Consider these aspects when making your choice to ensure the optimal safeguarding of your assets.
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Tip N3 – Choose your Crypto
For a well-rounded crypto portfolio, it's advisable to make Bitcoin and Ethereum the core components as they stand out as the most secure and extensively proven cryptocurrencies.
Statistically, a substantial majority of Crypto HODLers allocate 70-80% to Bitcoin and 10-15% to Ethereum within their crypto wallets.
Tailor your portfolio to your risk tolerance by introducing a percentage of altcoins with considerable growth potential.
It's essential to note that major crypto coins exhibit greater stability with less susceptibility to significant increases, whereas altcoins, as is typical, boast substantial surges but come with heightened price volatility.
Tip N4 – How to Start Crypto
Formulate a buying strategy and adhere to it consistently. Dollar-cost averaging (DCA), involving the regular purchase of a fixed amount of crypto (weekly or monthly), serves as a straightforward method to counteract impulsive buying tendencies and the fear of missing out.
For beginners in the crypto realm, DCA emerges as the optimal choice, facilitating the acquisition of the desired crypto at the most favorable overall price over time.
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Tip N5 – Take Profit
The ultimate objective is to convert theoretical gains into tangible profits. Establish a predefined exit strategy, determining specific price levels for selling your crypto on both the upside and downside. This proactive approach ensures a clear plan for capitalizing on favorable market movements and mitigating potential losses.
As you approach your financial objectives, there might be a need to convert your crypto assets into fiat and withdraw them. Cryptal provides a solution by enabling the exchange of crypto to GEL, USD, and EURO with the added advantage of the lowest fees on the market. This exchange can be seamlessly followed by withdrawal through convenient options like Bank Cards or Wire Transfer.