Date: 10 months ago   Category: Economy

New cryptocurrency investors shouldn't pay attention to volatility and count on five years: Charlie Shr


The bitcoin evangelist, Charlie Shrem, has said that new cryptocurrency investors shouldn't be frightened volatility of digital assets, but have to choose better a token at the upper edge of the market and accept a long-term investment position.

At the MoneyShow conference which has taken place at the end of August, has opposed as Shrem exaggeration of opportunities of cryptocurrency assets from new investors.

In Yahoo Finance interview it recognized that cryptocurrencies are unpredictable. He has told: You put the wealth in these things and they collapse. Things do happen. Values decrease by 90%, then values grow for 100%. I always offer the choice to people who want to be engaged in cryptocurrencies how many money they would lose right now. They answer - 500 dollars. Then invest 500 dollars in a cryptocurrency purse, and then just cheerfully spend time. Just enjoy, learn. There are many good cryptocurrencies: bitcoin, Efirium, Dash, лайткоин. Just learn what does them different. Shrem also advises investors to buy cryptocurrencies to hold them five years then they will have the increased probability of receiving profit. It, according to him, occurs because the bull and bear markets usually happen on two-year cycles.

In July, 2016 has been unbound by Shrem after his condemnation in 2014 for conspiracy with the purpose of sale of bitcoin to users of the Silk Road dark-market. For the period of his arrest and a conviction by Shrem was the founder of BitInstant, the cryptocurrency exchange which processed up to 30% of all bitcoin which is in circulation in due time.

Since the release, Shrem has based Crypto.IQ, a startup which is engaged in cryptocurrency training and offers resources, statistics, daily newsletters, access to the market and text notices for cryptoforex traders. He recognizes that the cryptocurrency scene has sharply changed since then BitInstant has lost force, but he doesn't see increase in quantity of cryptocurrencies as something bad or threat for bitcoin. Explaining to

the point of view, he has told: These 1600 coins carry out guerrilla marketing. They do draft work which was performed earlier by the leading cryptocurrencies. It attracts people - it intrigues people... The bitcoin will always be certain "father" - a long-term contribution and digital gold. You will see that the superlimit number of volume of transactions of bitcoin will decrease soon as people will use him more for preservation of value, knowing that if it doesn't happen, all of them will fail. But, certainly, it is interesting to have other projects as Steem to experiment and learn about what they. According to Shrem, long-awaited permission from SEC for ETF of bitcoin will take place in 2019, however he warns that the cryptoforeign exchange market has to use wisely this opportunity as he will get only one chance to prove. He has told

: We have only "the first shot". If we have ETF, and sing something

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