Crypto Savant Charlie Shrem to Investors: Ignore Crypto Growing Pains, Buy to Hold for 5 Years
Charlie Shrem Believes That New Crypto Investors Should Ignore Volatility And Hold Cryptos For Five Years
Charlie Shrem is a well-known Bitcoin and crypto advocate that believes in the long-term bull market for the cryptos. According to him, new crypto investors should be spooked by the volatility of the market. Instead, they should select a token near the top end of the market and simply hold it for at least five years.
During a recent interview, Shrem advised new investors against too much exposure to crypto assets. He said that cryptos have a very unpredictable nature and that you should expect to risk money if you are going to invest. After that, you pick from the top currencies and just “have fun” with them, according to the investor.
Five Years Is A Good Time For Holding
Shrem believes that you should hold cryptos for at least five years if you really want to see true results. According to him, this will give you a much higher chance to get a good return on investment. Ast the bull-bear markets have cycles, you just have to wait for the next one.The investor believes that investing in top currencies is a good way to avoid the most dangerous ones.
They may be interesting to pull more people to the market, but at the same time they are simply very risk and you are not sure that they will still exist in the future.
He also believes that the SEC permission for a Bitcoin ETF will happen in 2019 but also warns that the market will have a single chance to prove itself. If something happens, then the SEC will shut it down and it is going to be hard to have an ETF again.
About Charlie Shrem
Shrem is a high profile entrepreneur and crypto investor. He was arrested in 2014 for conspiring to sell Bitcoin to other people on Silk Road, an illegal marketplace. However, he was freed from prison in 2016 and has been working with cryptos ever since.
Charlie Shrem also founded BitInstant, a crypto exchange that processed as much as 30 percent of the whole market at the time. After the release, he has founded Crypto.IQ, an education startup focused on cryptocurrencies that offer insights, daily news, marketplace access and resources for traders.