Simple plans can yield great results from CRO coin
Investing in cryptocurrency has been a pleasurable experience for me thus far. The possibilities are limitless this early in the process, which can be intimidating. I concentrated on the most popular coins, such as Bitcoin (BTC-USD) and Ethereum (ETH-USD), and ignored the noise. We have the freedom to make mistakes and learn from them. So far, I've had nothing but success with swing trading. But now I'm going to talk you why I'm interested in investing in the Crypto.com currency (CRO-USD).
I already have some, but only as part of a longer-term core position plan. I recognize that it may become cheaper this year, so I am not declaring a bottom.
This year, my strategy is extremely obvious, and I will share it with you today. However, if you have any reservations about cryptocurrency, you must first overcome them. To do so, I had to overcome my innate aversion to change, which was especially difficult given the assets. Prices change so often that opportunities for error abound.
The post I shared in late December resulted in a swift 35 percent profit. However, if you did not book it, you are now sitting on a loss. I kept mine, but it was on purpose. With Crypto.com currency, I've already had two 30 percent winning runs. As previously stated, this third order is a beginning tranche.
Invest in Crypto Coin for the Long Run
In my December essay, I went into great depth about why betting on Crypto.com makes sense. This year, my plan is more focused on investing. I used the method that worked effectively for me with gold, which was to gradually add some.
I have a few crypto favorites, and CRO-USD is one among them. Everything may change in a second, as the pandemic reminded us. As a result, we need alternate electronic assets and transfer mechanisms.
I consider cryptocurrency to be an asset. I even do business with a few global partners in it. In my experience, it has been a speedier and less expensive method of electronically moving monies overseas. I much prefer it to my previous methods of wire transfers through banks. To circumvent this, check at stablecoins.
Crypto.com is investing heavily in ubiquitous marketing in the United States. Its app works, although it isn't really noteworthy. It's even clumsy in my opinion. Still, demand growth must be exponential, so I applaud them for handling it so far so successfully. Growing pains can be a serious issue — just ask Peloton (NASDAQ:PTON). Management has earned some leeway in my book as a result of this.
The app's success should translate into the prosperity of the Crypto.com coin. If the corporation is thus committed, CRO should join in on the fun. After all, its sole purpose is to serve and promote its platforms. Even if the market has fallen over 60% from its highs, early investors are still profiting.
I understand that not everyone can be an active trader, constantly entering and exiting positions. I did it, but I also understand the value of amassing the items over time. Just ask the first Bitcoin backers. There is no need to be precise with the time of the entries for this purpose. But it's useful to have a plan to guide us — a system, if you will. I came up with mine after analyzing the Bitcoin chart late last year.
The Nitty-Gritty Levels
I've developed my charting skills over the years, and it's now a true passion of mine. I saw the Bitcoin correction emerging months ago as a result of this. And, because BTC is still the dominant coin, I assumed that the rest of the coins will follow. That is precisely what occurred, and the correction is still underway. Bitcoin lost its footing and fell short of my original target of $33,000. That is when I sent out my first batch of Crypto coins.
BTC is now attempting to reclaim the neckline it has lost, but has thus far failed. If the second phase occurs, it will be as a result of the loss of the January 24 low. Surprisingly, that was also a significant low for stocks.
If it can accomplish that, my next step will be to add batch two when BTC falls below $28,000.
It may sound foreboding, but revisiting a stock's breakout is beneficial. BTC did this in December 2020, therefore it could benefit from a retest this year. As a result, I anticipate that it will eventually include my third batch of Crypto.com currency when that occurs.
If I'm mistaken and Bitcoin recovers $46,000, I'll be long with an unfinished position. But
This year, I have a plan based on specific chart lines. So far, it's going almost exactly as planned, so I'll stick with it until the end.
Let me conclude by recommending that you check into cryptocurrency in general. I can assure you that the most difficult step is getting past your natural skepticism. Fortunately, the investments required are minimal. Small accounts, unlike equities, can do it all. I'm convinced that the naysayers will change their minds. They did it with the "internet superhighway," and it will happen here as well.
Although not all coins will survive, the procedure will. Blockchain technology and electronic wealth transfer will someday change the way the world operates. The transformation is currently taking place, and crypto.com coin is playing an important role. Owning CRO is a feasible investment concept as long as the company is in operation.