These are difficult times for our society. Probably all our readers are currently under measures to combat the Coronavirus, or will be very soon. However, despite the situation, we must do everything we can to stay active. For this reason, at CriptoTendencia we bring you the best tips to continue investing in Bitcoin in the days of COVID-19.
1- Calm down! First of all, calm down
We know this can be stressful. The measures taken by our governments, although necessary, can make us feel as if the world is about to end. And the fear-mongering prevailing in the majority of the population only reinforces that idea.
But we must remember above all things that it is not the end of the world. It is a difficult moment in which humanity faces one of the greatest challenges in its history. But it is also a battle with an announced result: our society will prevail.
Therefore, if you have already taken all measures to avoid contagion and that of your loved ones, you can rest easy. Relax, watch a series, do some exercise at home, or just listen to music.
But before you even get close to your favorite investment platform, you need to calm down and put your mind where it needs to be. Only when the panic has passed and you are calm, can you start investing in Bitcoin again, this being the first of our tips.
2- Stay tuned to what is happening in the world
Our second tip is to stay informed of everything that happens in the world.
From the development of Coronavirus in most countries. From the reports issued by the main international organizations. Of the figures of public life that are infected by the virus. And, in short, of all the relevant data that may be useful in your investment.
Remember that in the midst of a crisis like the one we are experiencing, fundamental analysis occupies a fundamental place in the markets. Being the external events that end up defining the trend they will have, be it bullish or bearish.
3- Do not trust yourself
Just as our first advice was to stay calm, our third advice is to not trust yourself. Remember that we are experiencing a period of great uncertainty on a global level. Which means that markets will not always act as we expect them to.
The best example of this is the drop in the price of gold and Bitcoin amid the collapse of the financial markets this week. Thus contradicting traditional economic logic, which tells us that, in the face of a fall in traditional markets, the price of value reserve assets must be maintained or increased.
Therefore, you must keep an eye on all events in the main markets of the world, including gold and oil. Remember that only the calm and informed investor has the possibility to take advantage of the opportunities that will present themselves in the Bitcoin market in the days to come.
4- Take advantage of all the financial products at your disposal
Our fourth tip for today is to remember that to invest in Bitcoin you should not always buy BTC. And there are countless different financial products out there, with modes of operation that can better adapt to your needs as an investor.
For this reason, we invite you to analyze the possibility of acquiring products such as Future Contracts on Bitcoin or Contracts for Difference of Cryptocurrencies. Which could maximize your profits or reduce the potential losses of your investment.
5- Take care!
Finally, dear reader, from the CryptoTrend team we want to ask you to take care of yourself, this is our final advice.
Do not underestimate the magnitude of what is happening with the Coronavirus, pay attention to the recommendations of your government (even if in a normal situation or politically adverse) and the World Health Organization. And, above all, take care of your health and that of your fellow human beings.
Remember that even if Coronavirus does not have a significant effect on you, you can end up being a means of transmission for other people who can end up being very affected by COVID-19.
For them, wash your hands with soap and water, minimize your social interactions and do not echo false news that creates disinformation in the population.
If you do not stay healthy you will not be able to invest in Bitcoin, nor take advantage of the great opportunities that will appear in the coming days.