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How to invest in cryptocurrency wisely

Wed 18 Aug 2021 ▪ 13h42 ▪ 2 min read — by Katharina Haas

Today is once again Thursday, time to invest another amount of fiat money into cryptocurrency (according to our weekly DCA experiment)! It seems that the uptrend in crypto has gained momentum, and it is now time to switch to altcoins only.

The fear and greed index is hovering above 72. On the one hand, this suggests sustainable interest of investors in crypto. On the other hand, the degree of greed is not yet enough to trigger a downtrend. So, in our opinion, it is now time to invest in altcoins.

For today, here is how we divided the usual £40 into separate cryptos:

£20 into SOL

£10 into MATIC

£10 into ETH

But why ETH? The reason for investing in it is clear: Ethereum is one of the major projects in the altcoin space – if not THE main one.

MATIC is currently showing decent growth rates while its ATH is more than 2x higher than the token’s current price (around $1.30).

Solana is a promising project and is essentially a blockchain for the development of decentralised apps (dApps). Recenlty, SOL has set a new ATH and is now trading sideways just near to it. It is possible that the token will rise even higher.

Last week, the portfolio’s overall PNL stood at +£109.20 (+35.95%). This week, our PNL is +£95.55 (+28.52%), meaning there was a small drawdown. For more info, check out the portfolio.

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Katharina Haas avatar
Katharina Haas

Lorsque j'ai commencé à travailler dans la crypto en 2017, 95% des gens ne savaient presque rien à ce sujet. À vrai dire, peu de choses ont changé depuis. Cependant, il semble y avoir une lumière au bout du tunnel, et je tiens à l’opportunité d’y être impliquée

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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