This is a question I kept asking myself before I started trading. Since then, I started digging deeper into this whole ecosystem of cryptocurrency economics.
Here’s what I realized to date – Invest if you aim to buy and place your coins in a safe wallet to be opened after 6 months, in 1 year or more.
On the other hand, if you are like me and you can’t take your thoughts away about the price fluctuations and worry about the value of the coin you invested in ON A DAILY BASIS, then you should consider reading about trading and understanding the trading charts.
Trading revolves around speculations and understanding the ecosystem of the coin you are watching. It is not just about looking at the chart and predicting whether it will go up or down.
Rather, it required that I have a thirst to find out what’s hidden from view. The mechanics and the players behind those numbers that show up on the BIDS and ASKS columns. More importantly, how you will react on these trends.
One of my first realisations about trading is the fact that I have to stamp this concept in my psyche –
Buy the Rumor, Sell the News.