Bitcoin is trading at around $ 104,000, jumping more than 65% a year ago. Crypto supporters are calling 2025 years for digital assets, and according to Fortune, President Donald Trump’s vocal support is very much credited.
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Love or hate it, Crypto has reached the financial mainstream with a total market cap with $ 3 trillion, Fortune has reported. So, what does this mean for investors right now?
Whether you are holding coins, looking from the sideline or wondering if it is too late to jump into the game, what to consider as a wall street braces for a possible crypto boom here.
Research. Research. Research.
While Crypto is a new market compared to other investments, strategies continue to grow. The first step for investors is to do deep research-even more when considering investing in digital assets.
Always do research on purse, coins and exchanges. Do not trust social media. And talk to a financial advisor for different facts from fiction.
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Pay attention to liquidity
Liquidity simply means how quickly and easily you can turn investment into cash. In the world, the more famous coin is, the easier it is, the easier it is to buy or sell it. According to US News, major players such as bitcoin and atherium are more liquid than small altcoins.
Nevertheless, because the crypto market is so unstable, it is less liquid than traditional investments.
However, Devere Group CEO Nigel Green told US News that Bitcoin could increase ETFS access and liquidity, stabilizing prices and markets.
Expect big price swings
All markets have ups and downs, but are more unstable than markets such as Crypto S&P500, which means it comes with high risks. Although it can be attractive to focus on quintupling growth of bitcoin in the last two years, also knows risks.
Crypto short-term returns can be similar to the fluctuations of a roller coaster-the formation grows and is suddenly filled with droplets. For example, the price of bitcoin drowned 22% in just seven days in late July and early August 2024. This does not mean that you should not invest; Just don’t panic when the price falls.
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This article originally appeared on gobankingrates.com: Wall Street is preparing for a bitcoin boom – 3 things should now be done by investors now
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