The Top 3 Ways To Keep Up With Cryptocurrency
Cryptocurrencies are changing incredibly fast.
From day-to-day, the price can fluctuate pretty rapidly (called “volatility” in the market), and even from week-to-week there are new developments happening, new coins coming out, and global events that affect the market.
There’s so much going on that it can be overwhelming to keep track of your investments.
And if you don’t have any investments yet, this can be intimidating and might pose a big barrier to overcome to get started.
But fear not: Keeping up with what’s going on in the world of cryptocurrencies is easier than you might think, as long as you create a simple system with simple habits.
Not only that, but you’ll also be more informed about what’s happening in the world, giving you an edge in conversations with other people.
What Do You Need To Keep Track Of?
In order to stay up to date with everything happening in the land of cryptocurrencies, focus on the follow categories.
Stay Informed On Global News
Global news and events around the world can have a big impact on the market, especially since cryptocurrencies are global and not in the least restricted by national borders.
For example, earlier this year China banned ICOs and crypto trading, which resulted in a sizeable dip in the market.
While many people might have gotten scared and sold at this point, if you understood what was happening and why, then you would realize that the smart move was to buy at this low price, knowing that the inevitable success of the coin(s) you’re invested is only temporarily affected by this news.
This is also why we ONLY recommend investing in coins you believe in - ones that make sense in the development of the current system, align with the natural behavior of people on the whole, and follow the trends of the evolution of money.
Another example of this is the impending news that Amazon will start accepting Bitcoin as payment, which will likely spike the price of the coin (meaning that it could be wise to buy now and either hold onto it long-term, or sell when this spike happens).
Be Aware Of Coin And Company Announcements
When companies or coins make big announcements, it’s likely going to have a big affect on the market, and is something you should understand and be aware of.
Individual coins and companies are always evolving, and any new announcements coming out from them can impact your decisions.
For example, back in May 2017, bitcoin went through a hard fork.
In this case, a new form of bitcoin was created - the lighter, faster, and easier Bitcoin Cash.
Keeping up with this type of announcement helps you make decisions on whether to convert some of your investments to this new coin (which was/is a good idea when it comes to Bitcoin Cash), or to buy more based on what the announcement is accomplishing.
On the other hand, if any coins or platforms (like exchanges) get hacked, that’s also going to have a powerful influence on the market that you will want to be aware of.
Pay Attention To Popular Trends
By keeping up with trends, you’ll know which coins are on the rise, and which coins might be dipping or dying.
Recently, Bitcoin went from $6 up to around $9k, stayed there for a bit, and then jumped up to around $12k. These are important trends to know and be aware of, because buying at the beginning of this trend (at $6k) would’ve resulted in a doubling of your money.
That’s a pretty powerful and important thing to pay attention to.
On the other hand, if any coins are trending down, you’ll want to keep an eye on when they hit their lowest, as this could be a great time to buy (assuming the coin is an “inevitably successful” coin).
Or if a coin is on a steady decline and doesn’t seem to have any inclination of ever raising again, it’s time to abandon ship and pull out your investments in order to prevent a bigger loss.
Again, it’s worth mentioning that if you really want to build your wealth and achieve financial abundance, it’s best to pick coins you believe in and that you know will succeed in the long run, add to your investment regularly (something like 10% per paycheck, as discussed in The Richest Man In Babylon), and hold onto in for the long run.
The story of the $70 million dollar pizza - where someone bought 2 pizzas with bitcoin in 2012, which is now worth $70 million dollars - is a good lesson in holding onto the investments that you have confidence in succeeding long-term.
In other words, don’t sell your bitcoin at this high of $12k when it might hit $40k or higher in the coming year, unless you’re purposefully trying to play the short-game.
The Top 3 Ways To Keep Up With Cryptocurrencies
Staying on top of these specific categories might sound like a lot to keep on your plate, especially if you have a full-time job, a family, a social life, etc.
But there are some powerful time-saving things you can do that will make all of this ten times easier.
Regularly Check A News Syndication Site
News is one of the hardest things to keep up with, since there’s so much noise and stuff that doesn’t matter.
It can also be depressing if you pick the wrong news sources (local news on TV is terrible for this), and that can actively work against your mental state.
At the same time, news sites can often be complicated and wordy, causing you to have to read for hours on end to get through it all.
News syndication sites take all of the important news, cut out the noise and stuff that doesn’t matter, and quickly gives you the information you need without too much reading required.
Because we recognize the importance of proper news syndication and the benefit in quickly delivering what’s needed in an easy-to-understand way, we have an entire section of our site dedicated to this.
Click the “News” tab in the navigation bar above to check it out.
Download Blockfolio On Your Phone
Blockfolio is an incredibly simple and easy-to-use app, where you can manually add in your investments and any trades you make, and get real-time updates on the prices of different coins and how your entire portfolio is doing.
This is excellent for helping you to watch trends (especially if you check it regularly - daily or twice a day), and you’ll easily be able to stay informed on the prices of coins you’re interested or invested in.
It’s super easy to use, and since it’s on your phone, you can check it anytime during the day.
Usually, we’ll personally check it every morning and every night, if not more, whenever we happen to feel like it.
Sign Up For A Cryptocurrency Report You Trust
One of the most powerful things you can do for keeping up with and increasing your investments is to sign up for a monthly report from an expert.
This allows you to get the top cryptocurrency info from the past month, along with future predictions that can really help guide your decisions.
As we’ve seen how much certain coins can go up, we know that a single decision can be the difference between increasing an investment 5-10x or not (or worse, losing money).
The best part about this is that you get expert insight on important news, announcements, and trends that would otherwise be a full-time job, and this insight can earn you far more money in the long run than the small price you pay for the report.
At GCA, our entire team spends most of our time focused on cryptocurrencies and understanding what will work, why it will work, how to increase investments, and looking into long-term predictions for the future.
We want to share the insights we’ve developed from this amount of time and thought, which is why we create the Global Crypto Monthly Premium Report.
In our monthly report, you get updates on the most important news relating to cryptocurrencies, a look at the popular trends, updates on the best coins to invest in, and our personal predictions on the coins we’re personally investing in.
We also include some very powerful information on mindset and perspectives for accumulating wealth, since these ways of thinking are so important for developing your wealth, which is the entire reason for getting into cryptocurrencies to begin with (along with supporting a movement that will change the world for the better).
Staying Informed Has Never Been Easier
Keeping up with cryptocurrencies can be overwhelming, but by taking the right steps, you can minimize the work on your end and leverage the knowledge of experts to get the most out of your investments and make everything so much simpler.
In order to keep up with everything that’s going on, focus on the most important aspects of cryptocurrencies:
- Global news
- Coin announcements
- Popular trends
The best way to keep up with these are to:
- Follow a high-quality news syndication site
- Keep track of coin prices and trends using an app like Blockfolio
- Gain expert insight by signing up for a cryptocurrency report
Click here to check out our report, where we share powerful findings and predictions from our full-time research and experience, and give you everything you need to know in order to invest wisely, make smart decisions, and develop the mindset needed to accumulate wealth and achieve financial freedom.