Vitalik Butterin, Founder of Ethereum Project said that cryptocurrencies are still new and hyper-volatile asset class and could drop to near-zero at any time. He also added on his twitter that “Don’t put in more money than you can afford to lose”
Those are a good call and best advice for us to pay attention before investing in cryptocurrencies asset. The price of ethereum had dropped in mid-February 2018. It makes many new investors lose a lot of money almost 70%. Many big traders also predict that cryptocurrencies market will back to business in early March.
We can say that Vitalik statements very make sense. At this moment, we have to carefully manage our crypto assets. A lot of newcomers only joined for the hype, and unfortunately, it seems to have a negative impact. Here is an example, “Korean man commits to suicide after loss on cryptocurrency market”
Before entering cryptocurrency market, we better start to learn first about many things. Prepare your self with more knowledge and of course a small amount of capital.
It’s better to use your spare money, not from your main revenue. If you loss on cryptocurrencies market, you will not really stressful.
If you are not ready to enter cryptocurrencies market yet, it’s better you investing in traditional assets, like Vitalik Butterin said.
If you are not interested in traditional assets, you can choose alternative assets, such as as precious metals, art, wine, antiques, coins, or stamps.
Cryptocurrencies market is not suitable for a person who impatient, looking for quick profits and not have strong mentality when loss the money. It’s better to improve your self in that area, before entering the cryptocurrencies market.