There are several questions about cryptocurrencies and BTC that are popular among newcomers to cryptoindustry. We explain what’s wrong with them and why it’s better not to ask them.

Those wishing to start interacting with cryptocurrencies often ask the same questions on the topic of buying a particular cryptoasset. It is these questions that are practically taboo in many communities professionally dealing with cryptocurrencies.

Considering such uncomfortable questions, as in case of damaging advice, will help to better understand how to do right. And also improve your understanding of the basics of investing and trading cryptocurrencies.

The most popular question: Buy BTC for $20,000 or not ?

Whether to buy BTC at $20,000 or similar questions about other crypto assets is the most popular question. It is impossible for professionals working with blockchain assets to answer such a question in one word or even a few sentences. For a satirical analogy, a fictional situation could be made. In which a person would walk up to a doctor on a street and ask if they should take a cough syrup. Without having proper information about an individual’s situation and some analysis of all available data. This doctor would not be able to answer yes or no to such a question.

Exactly the same situation for crypto experts and traders sounds questions about whether, for example, to buy ETH at $1,000. To answer such a question, a specialist will need to know a lot of information regarding the situation of a “new investor”. Does this new investor already own cryptocurrencies. If so, at what prices he bought. And is he familiar with the basic principles of investing and money management. Does he know all the risks of any crypto investments. Whether this investor is planning a short-term position or an investment in a long-term position and many other questions.

In order to correctly assess the situation and allocate the right share in the portfolio to a new asset for this investor. It is also desirable for a crypto expert to know the total amount of already existing and potentially possible crypto portfolio.

As you can see from the nature of questions, a conversation like this definitely won’t fit into a few sentences. This kind of communication also implies a certain level of trust between people. Which should be based on a mutually beneficial contract, or a friendly or family relationship.

Next popular question: Which project will go to the moon?

The next category of questions is requests for evaluation of certain investment ideas. Unfortunately, a lot of users are often ready to invest all 100% of their deposits in one project. Most often it is a new project advertised by marketers. And they don’t have even one reliable sector in their crypto portfolio – BTC, ETH, BNB, ADA, SOL, DOT and others.

Can a crypto expert definitely answer questions about investment attractiveness of this or that project? He can, but a detailed answer will definitely take more time. Than a conversation over a cup of coffee and will be more like an audit service – due diligence. Which includes drawing up an objective vision of an object of investment. Assessment of investment risks, a complex study of project activities and a complex check of crypto-market.

All of above mentioned applies to classic investing as well. However, in addition to these points, blockchain due diligence will also include research into where best to store crypto assets. As well as studying the issues of passive income through stacking. Or other similar mechanisms, if a long-term investment is planned.

Let’s make a conclusion

Having considered the most popular questions, we can conclude. That in most cases, if a person asking a question has a serious intention to start investing in cryptocurrency. He will need to take enough time to educate himself in this matter. Or take advantage of a paid consultation from a crypto specialist. It is also worth noting that professionals working with digital assets like to get new information from any source. Therefore, they will treat any question better if they add some interesting fact to it. Or their own observations on the market situation, made on the basis of their own research.

Another reason why traders and analysts do not like to give advice. It is hidden in the fact that any advice must be able to be realized. A newcomer receiving even an accurate signal to buy can do otherwise. And a simple situation for an expert will be catastrophic for a newcomer. Because of excessive manipulation of leverage. Or due to incorrectly set stop-loss and take-profit.

So, recommendation to buy BTC or other crypto asset at a certain price can lead to a lot of negative consequences. And a newcomer will then start accusing his failure of advice provided by a crypto-expert. If price goes up, but just a little. Then newcomers will say that they have not gained enough money. If price goes up, but not immediately, they will say that they could have bought cheaper. Even more predictable will be the reaction of an unprepared cryptocurrency buyer to long-term price moves below entry point before the start of growth. By the time growth starts, new trader will already sell everything at a loss. Therefore, our Crypto-Upvotes experts recommend to study everything carefully by yourself. And contact only professional cryptocurrency traders.

Crypto market is experiencing hard times – the most famous cryptocurrencies have fallen in price two or three times since the beginning of the year and continue to fall rapidly. Large blockchain projects are closing or stopping their development. Experts are predicting a harsh crypto winter. Why is this happening? How long will it last? And is bitcoin worth selling for $20,000 a coin now? Or, on the contrary, is now the best time to buy? Let’s find out together with experts of Crypto-Upvotes team.

Bitcoin in middle March could be bought at $41,000 per coin. Now, three months later, it is trading at around $20,000, having fallen in price by almost half. Fall affected other cryptocurrencies, for example, Ethereum lost almost two-thirds of its value at the same time.

Panic in markets has even affected Stablecoins. Some of these coins have lost that bind. The most famous scandal was the collapse of UST steibcoins, which fell in price a hundred times within a month. As of June 21, their exchange rate was only $0.008. The U.S. authorities even announced their intention to open an investigation into what happened to UST.

Against this background, on June 12, a major platform Celsius temporarily banned users to transfer and withdraw funds (this led to the collapse of the company’s own token by 50%). The next day, the popular cryptocurrency exchange Binance suspended bitcoin withdrawals. And another day later, Coinbase announced that it was laying off 18% of its employees. Coinbase CEO Brian Armstrong warned of a possible “crypto winter”.

Has crypto winter come?

Experts have different opinions on the state of affairs in the crypto market. “Crypto winter is harsh and the market may face cataclysm in the form of another collapse and slow price recovery, which may take several years,” Crypto-Upvotes experts believe, “After the pandemic, the G7 central banks printed a lot of money to support the economies. And now they don’t know how to contain high inflation due to the energy crisis. The U.S. Fed is fighting inflation by raising rates. The U.S. Federal Reserve’s tightening of monetary policy strengthens the dollar, raises government bond yields and pressures the stock market. Cryptocurrency is a risky asset class, so a sell-off in stocks causes a sell-off in cryptocurrencies.”

Our team’s experts also attribute the collapse to the general economic situation. The inflow of new money into cryptocurrencies is declining amid record inflation in the U.S. and an increase in the key rate by the U.S. Federal Reserve. This, in turn, will affect the availability of credit. “Large investors prefer to invest in cryptocurrencies with money that is easy to get, in an environment where it can be profitably borrowed at any time,” say our experts.

One of experts on Crypto-Upvotes team believes that the current drop is only part of the general cyclicality of cryptocurrency market. “The exchange doesn’t produce money, it redistributes it,” he insists, “there are people who bought bitcoin at $40,000, even at $60,000, now they need to be persuaded to sell it for $20,000. It’s not easy to do, so there’s pressure on new investors to get non-professionals out, and professionals would buy the cryptocurrency at low prices.”

What will happen next? Sell or Buy Now?

Against the backdrop of a sharp drop, many users are getting rid of their crypto savings, even despite the large losses. However, our experts say that this should be done only as a last resort.

Our experts have different views on mid-term prospects for the crypto market. Those who entered bitcoin above $30,000 should first of all prepare themselves emotionally and thank the fate for the valuable experience, from the point of view of the historical context the assets which fell in price during recession sooner or later will grow to new ATH.

Any successful cryptocurrency has a large scope for applications: NFT projects, meta worlds, game projects. As long as there are people who see the sense in it (and there are 300 million people using cryptocurrencies in the world now), it will be impossible to talk about domino effect and the whole market falling to zero.

As for what to do with investments in cryptocurrency – there is no universal advice – say experts of Crypto-Upvotes team. It all depends on the investor’s capital and willingness to take risks. A year ago, some famous billionaires invested a small part of their savings, which they manage, in cryptocurrencies. They might as well buy now, since the losses won’t be sensitive to them, and the gains in the future will be nice. Many of us will not be very upset to lose $100 in a slot machine and everyone will be glad to get a profit of $10,000 or more in a couple of years.

Our experts expect BTC to fall to $8000

People are used to making predictions based on experience. We remember that in the spring of 2021 some experts started talking about the beginning of crypto winter. At that time, the market held steady, and after that it showed record growth. Which means that now there are several options for future.

Some assure that we are in the state of crypto winter right now. While others believe that the events happening before our eyes are just the beginning of a big rally, in which there will be no winners.

Let’s look at both positions and draw some conclusions. The first ones refer to the mind of cryptocurrency holders and the financial cushion of the Whales. Argument is as follows: a huge number of people bought Bitcoin and Ether at the very tops. Undoubtedly, some of the unlucky investors will start to get rid of their savings, which has been happening in recent days. But most do not want to lose their money, so will hold positions despite the further decline of the rate. Also worth paying attention to the actions of Whales (wallets with more than 10 000 BTC). These guys have not changed their tactics lately, slowly accumulating large amounts. It turns out that for some, cheap cryptocurrency is the way to ruin, while the big fish are looking to make money by buying up coins at low cost.

As a zone of support for collapse of Bitcoin was the mark of $20,000, but the price has fallen below $19,000. And further there are no short positions, which means the price will fall further.

In this regard, our experts have estimated that BTC might fall to $8,000 very soon. But we should not forget that there are many people who keep their money in Ether, and in the next few days the rate can go down to $800 and then to $400. Bitcoin storm grows stronger, but this is a general trend for the market, but Ethereum has also a number of internal problems. To begin with, the developers’ uncertain position on timing a move to PoS. Merger has been postponed so often that many have already stopped believing Vitalik Buterin words. Many investors no longer believe that Ether and Bitcoin can escape cold embrace of crypto winter.