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The cryptocurrency seems to be showing a steady growth. We have seen a major pullback from the lows of July and currently the market seems to be in a nice consolidation phase which is very important for a healthy long term growth. Unlike times earlier where we have seen rapid rises and falls, this time we are seeing a very slow and steady rise which makes this current bull run a really strong one.
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The cryptocurrency seems to be showing a steady growth. We have seen a major pullback from the lows of July and currently the market seems to be in a nice consolidation phase which is very important for a healthy long term growth. Unlike times earlier where we have seen rapid rises and falls, this time we are seeing a very slow and steady rise which makes this current bull run a really strong one. This article will help you understand what is currently going on in the market and what are some tactics one should use for the short term. For anyone getting started we will helping you with a few tips to get started on questions like “how to buy Bitcoin in Canada”.
Let’s get started with a few tips to keep in mind looking at the current market situation. 1) Book timely profits: If you are someone who has invested during the slumber phase of the market then remember to constantly keep booking profits. Do not get carried away by the current bull run and bring your emotions into the trade as nothing lasts forever and we might soon again see a downfall in this market which can be taken as a good opportunity to enter once you are sitting on cash. Booking profits also ensures that we can keep buying on dips which is a great strategy to help you average your investments out.
2) Still in a loss, Do Not Panic: If you have bought into your investments at the highs of the previous bull run and are still in a loss then do not panic. Investors usually end up making silly decisions and sell their investments at a big loss thinking that the markets might go lower and that is exactly when we start seeing a reversal in trend. It is almost impossible to predict the market but one thing is certain that if you are invested in a good token then sooner or later you will reap its benefits which is why patience is very important to make money in this market.
3) Stay invested in coins like Bitcoin and Ethereum for the long run: This is very important and every investor should keep this in mind. Bitcoin and Ethereum are the tokens that establish the trend for the entire market and should be the top holdings for any new investor. Stay invested in these coins for the long term to make a strong portfolio. What should be done now? The current trend is really strong and investors should book timely profits or investors with a risk appetite should definitely stay invested for the longer term.
If you are someone who hates the volatility then you can invest in stable coins like QCAD. If you are wondering “How to buy QCAD in Canada” then visit the Netcoins website today. Netcoins is one of the most reliable brokers in Canada and their platform ensures a seamless experience for all its users. Happy trading to you !SOURCE CREDIT: https://netcoinscanada.wordpress.com/2021/09/01/invested-in-the-cryptocurrency-market-read-this-now/
