How To Make Profits From The Volatile Crypto Industry
Many people shy away from investing in the crypto world due to some reasons. Volatility has been cited as the main issue. The current market state is giving justification to many why investment is a big risk.
However, Charlie Shrem, a former senior official at the Bitcoin Foundation has come out to explain how one can make profits in the crypto world. At the moment, most cryptos plunged meaning that they are available at discounted rates. The drop might discourage many people from investing in the crypto industry.
Shrem notes that an investor needs to research about the market before taking any step. During a recent forum in California, he said that cryptos in the top 10 or 20 are the most ideal. Bitcoin emerges to be the top currency.
A study from Yale University, notes that bitcoin will only reach half of its highest performance but will hold a big chunk of the market.
Shrem entered that industry in 2011 and launched Bitlnstant. He was once found guilty of operating unregulated money exchange business.
Other currencies are expected to follow the bitcoin price trend in the near future. Bitcoin has dropped by 65% from it's all-time high. At the same time, altcoins are operating at around 80% discount.