10 Essential People to Consult Before Making Any Investment Decision
We are in the era of cryptocurrency trading. It is a massive and turbulent gambit, and traders with an edge can make a bank. But who to take trading advice from? Many experts are out there; you should do your due diligence before investing with bitcode method.
1. Trading gurus.
The best traders know how to make a quick buck by trading. But after being hyped up, it turned out that those who claimed 90% annualized return weren’t telling the truth. The trading gurus can be the ‘opposite’ of Bitcoin, as mentioned above by experts.
2. The mainstream media.
The mainstream media actively covers cryptocurrency news, and they often get it wrong. Cryptocurrency is a relatively new concept; many journalists do not understand how it works.
There are tons of YouTube videos and television documentaries about trading — but you must be very careful with them as they are often based on anecdotal evidence, interviews, and unrealistic scenarios.
4. Bitcoin gurus.
Bitcoin is anonymous, cannot be traced, and there is no central authority to ask questions to — so the more you ask, the better the answers you get when data on blockchain transactions are publicly available.
5. Algorithmic traders.
They operate through complex mathematical formulas and algorithms so that news events or other general information does not sway their trading decisions. But it is important to note that the trading decisions are often extracted from historical data, which might contain all the mistakes and errors that algorithms fail to detect.
6. Bitcoin/Blockchain researchers/Developers.
Blockchain and crypto technologies are in their infancy, so there aren’t too many people who understand it well yet.
7. Bitcoin investors.
Bitcoin is a non-sovereign currency, meaning it isn’t backed by gold or any other commodity. Why does it work? Bankers currently managing fiat currencies for stability reasons do not want Bitcoin to become a viable alternative to their business.
8. Stock analysts/Investment advisers/Finance professionals.
Many of the top Wall Street professionals are on the Bitcoin bubble list. When they trade Bitcoin, they are gambling with their client’s money and will lose it.
9. ICOs/Crowdsales /Bitcoin miners.
Many examples of scams and fraud are known, including the ‘cryptocurrency mining equipment’ scam uncovered recently by SEC.
10. Bitcoin evangelists.
Bitcoin is a fascinating concept; not everyone can grasp it simultaneously. If you are new to this field and looking for definite answers from someone who knows the ‘hows’ and ‘whys,’ do not look for Bitcoin evangelists.
The cryptocurrency trading field is a battleground where people compete for money and attention — not unlike in real life. So take all the advice with a grain of salt — even the one I’m giving you right now. Try bitcode method today and enjoy their services.