An indifferent few weeks in the crypto world!
The levels posted (texted to those that ask) are shown below—shown in British pounds and rounded for ease of entry.
As we can see, thus far, Ethereum has achieved the upper level provided with two or maybe three opportunities of getting in at the higher entry-level.
Ethereum seems reasonably balanced and within a broad area of consolidation.
On the other hand, Bitcoin made a torrid—if not entirely unexpected—time.
Bitcoin is not ranging, as seen with Ethereum. On trying to balance, Bitcoin dropped significantly, only gaining a positive footing hitting our lower published entry-level.
However, I understand that taking an entry while the ‘knife’ is falling is not a prudent action and viewing the chart whilst it happens is fanciful if we’re not a full-time trader/investor.
What to do?
Those who have invested or consider doing so in crypto join a rollercoaster of an event.
If you are in the camp that believes crypto has a future, then as an investor, I hope you have been patient and grabbed as sequentially as possible the proposed levels made available.
You will recognise the importance of taking small bites at the levels proposed.
Binance has changed its investor identification requirements to make it more acceptable to the UK and such.
In that regard, larger banks may still block such investment through Binance. However, it is possible through smaller banking institutions such as Monzo. (Nick tells me).
Advantages with Binance over PayPal is that it is more suitable for trading as limit or stop orders are possible, and selling costs are minimised if exiting but not withdrawing.
Another thought comes to mind that once bought, investors looking at their portfolios every two to three years are verging on too many!