If you’re starting out in your crypto investing journey, by now, you’ve already realised how overwhelming it is to learn about cryptocurrencies and blockchains. In addition, it seems impossible to keep up with all that’s happening in the crypto market.
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One way to keep up with what’s happening in crypto is by first focusing on learning resources for beginners and then reading the latest blog posts and newsletters.
It’s important to focus first on learning centres and beginner resources so that you’ll somehow know how cryptocurrencies work, what your options are, and where cryptocurrencies are headed in terms of adoption and utility. This way, you’ll understand the risks and opportunities in the crypto space. It’s also a practical way to expand your knowledge about modern finance, assets, and economics.
Once you’ve understood the fundamentals, it’s time to keep your knowledge fresh and keep yourself updated with the latest crypto news and developments. For example, Coinberry (a popular crypto trading platform in Canada) regularly publish blog posts that help beginners, and experienced investors make smart decisions and better protect their assets. This way, their customers and readers can get a “feel” of the market and help minimise their losses (or maximise their gains).
What makes cryptos’ prices go up or down?
Source: time.com
Cryptocurrency is a rapidly evolving field with several new players coming in each day (and existing cryptocurrencies are undergoing rapid development as well). In addition, crypto is now touching several aspects of our society, including political, social, technological, and economic. Right now, it already affects how we interact and transact with other people and institutions and how we allocate our resources (as of this writing, the estimated total market capitalization of the crypto market is trillions of dollars).
One way to stay informed about these developments is to read relevant blogs and subscribe to newsletters. These often contain important updates that affect cryptos’ prices. These updates might be about:
- A new blockchain platform that’s a lot faster than Ethereum and now worth more than a billion dollars
- A new policy issued by the government about the use, regulation, and adoption of certain cryptocurrencies
- A celebrity, a billionaire, or a Fortune 500 corporation that recently announced that it will use a particular cryptocurrency to power their ventures
Those updates can influence cryptos’ prices and the entire crypto market. Note that cryptos’ prices are highly volatile and can be easily affected even by small events (which can rapidly compound and snowball, leading to dark days or new all-time highs).
How to stay up to date with crypto news
Every day, dozens or even hundreds of events and updates can significantly affect cryptos’ prices. It’s impossible to keep up and make sense of what’s happening. Even analysts find it impossible to pinpoint the set of reasons directly responsible for a crypto’s sudden rise or decline.
Source: binance.com
To keep yourself reasonably updated, it helps to choose a few reputable blogs and newsletters. You don’t have to spend hours reading the news and articles daily. Perhaps 10 minutes a day is enough to keep yourself informed and updated about the most important developments in the crypto space.
Aside from blogs and newsletters, you can also get important and timely information from news sites, news aggregation platforms, and social media. However, the constant stream of news and updates from these sources might make you feel overwhelmed (and consistently feel the fear of missing out). Also, some of the information might be inaccurate or far from credible. This might mislead you and make you commit a potentially expensive mistake.
In contrast, reputable blogs and newsletters can help you avoid costly mistakes and lead you to make smart investments (especially when it comes to minimising losses). Also, you might need to check those after lunch or dinner (5 to 10 minutes is already enough). It’s a practical way to avoid overwhelm and perhaps better devote your energy and attention to other worthwhile pursuits.
Is it time to buy, hold, or sell crypto?
Information can direct or influence action. In crypto investing, a certain piece of information can make you buy, hold, or sell some or all your crypto assets.
For instance, if most news is about the crypto crash and big investors pulling out their money (which makes cryptos’ prices go down), this might make you sell your crypto. This information might also make you buy more crypto and take advantage of its low price (and later gain a bigger profit once cryptos’ prices recover).
In other words, it’s still up to your interpretation and judgment. For example, this might have happened when Cardano was starting to become popular. It was presented as a greener alternative to Ethereum. Although Cardano uses a lot less energy than Ethereum in processing transactions, not everyone switched to the eco-friendly option. That’s because Ethereum is one of the first cryptocurrencies and with one of the largest market capitalization. In addition, it feels safe to invest and stay in Ethereum because of its massive user base and longer history.
Source: businesstoday.in
Notice that information only helped investors better see their options. It’s the same case with individual crypto investing. A certain crypto update might only help you see your options from a different perspective or reinforce your current investing strategy. It may or may not necessarily lead to a certain action (you might continue holding your crypto assets).
A reputable blog or relevant newsletter can help you see and analyze your options better. You also get to keep yourself updated with the latest developments on cryptocurrencies, blockchain networks, blockchain security, decentralized finance, NFTs, and web3. Some of those updates and developments might be critical to your investing strategy and potential profits.
With the timely and credible information you acquire from blogs and newsletters, you become better equipped to avoid costly mistakes and take advantage of emerging opportunities in cryptocurrencies and blockchains. It’s also a good way of gaining valuable insights on where crypto is headed, if it can still recover from a crash, or if it can still become a dominant way to handle our financial processes and transactions.
