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Everyone wants to make money in the financial markets. With that intention people end up investing and holding till they donu2019t end up in profits. This method works well in a bull market where we know the upside potentials are endless but in a bear market investors more often than not end up on the losing side of things.
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Everyone wants to make money in the financial markets. With that intention people end up investing and holding till they don’t end up in profits. This method works well in a bull market where we know the upside potentials are endless but in a bear market investors more often than not end up on the losing side of things. This article will help you with a few techniques to make sure shot profits in the cryptocurrency market and we will also help you with the best place to buy Ethereum in Canada or any other coin in Canada.
Let’s start with a few strategies to implement if you want to make some profits in this market1. Keep your emotions aside: We as humans are flawed with making decisions as we tend to involve our emotions more than rational thinking. These emotions would tend to make some of the worst financial decisions and that would affect the health of your portfolio. While making any investment it is very important to set your emotions aside and think logically. Diversify your portfolio into coins that are doing great projects instead of betting all you have on one coin.
2. Bought at a higher price and are in a loss now? Read thisMost investors tend to make a very common mistake of thinking they can time the market perfectly and end up securing positions at higher prices which results in them making losses if there is a minor profit booking or a consolidation period. What a normal investor would do is sell their holdings in a loss during a minor consolidation and when the currency starts moving up again they tend to miss out on the rally. The key here is to not panic, if you entered at higher prices then you aren’t alone.
There are several others who have done the same and when the price corrects, you can choose to average out your investment or wait out the consolidation period and make profits in the next up-move. Especially during a bear market, investors tend to get demoralised and end up selling their holdings at half the prices which are completely wrong. It is crucial to understand that the bear markets are just a phase and it will pass, these should be utilised by investors to add more cryptocurrencies and make a strong portfolio.
How do I get started?Now that you know some of the things to do to make a profit in this market, all you need is a safe and secure medium to trade your cryptocurrencies on. I would highly recommend Netcoins to any new investor as it offers one of the best experiences to beginners. One more tip which I would like to share is to invest in stable coins like QCAD, Tether.
These stable coins do not fluctuate as much as the general market and whenever the market dips one can convert these into cryptocurrencies and time their trades better. If you are wondering how to buy QCAD in Canada then Netcoins is your solution.SOURCE CREDIT: https://medium.com/@netcoinscanada/how-to-make-sure-shot-profits-in-the-cryptocurrency-market-1db6d5399923
