A warm greetings to everyone here, I welcome everyone to another week of hiveghana week 12.
Lots of entries has been made by participants and all entries are best of the best.
Even though it's not so long I started trading, but the little experience I gained, I believe someone might find it useful.
Crypto currency is the fastest way to ruin down and the fastest way to become rich, depending on how careful you are. Even though sometimes you have to take risk, you have to analyze risk before taking any step on it.
Crypto is a kind of independent digital payment system that does not rely on banks, its operate on an decentralized blockchain where buyers and sellers influence the prices of coins.
The first cryto coin to come into existence was bitcoin in 2009, which people who mined it are now millionaires, only I I had knew I would started crypto when it started but nevertheless it's never too late to start.
Everytime coins rises and falls, this is affected by it's demand and supply, whenever there is “excess supply” that is; a situation where sellers of coins are much more than those who wants to buy, in that kind of situation it causes the coin to dip or fall, because there won't be much traffic on demand just like the normal commodity goods we buy, and otherwise in a situation where there is “excess demand” that is when buyers of certain cryto coin are much more than sellers this causes a lot of traffic which makes such coin to rise.
A smart cryto trader buys coin when it dips and resells which it rises, that is the rule of trading if you don't want to make loss. I could remember when I first joined this hive blockchain, I made a lot of profit on the first HBD (hive baked dollar) I earned, I converted it hive coin at a very low price and sold it at an higher price.
Even though am just an intermediate in trading, I don't really know much but the little I know I put it to use, one thing I know for sure about trading is that it takes alot of time, when you buy coin at a low price, you would have to wait till it rises before you sell, then you'll make a good profit.
With the way most coins prices are falling, I believe it time to acquire some and patiently wait till the price rises again.
THANKS FOR VIEWING THIS BLOG❤️❤️❤️