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Struggling With Investing? Roger Scott Shares His Expert WealthPress Tips
Author: Andrew Park – August 1, 2021
Investing is one tedious, yet promising experience people are withdrawn from and at the same time willing to have. They are withdrawn from it because of the risk involved, and the potential of losing everything they have.
They are willing because the table could turn, and they could get groundbreaking returns.
For those who go ahead to invest and get high returns, it is not because they are braver. Rather, it is because they have access to information that others might not have. Hence, they are able to consider the risk, and put their investment where they have control over.
If you are willing to invest but have been struggling to start, you should seek the insights of experts. One of the experts that will share great insight is Roger Scott.
In the paragraphs below, Head Trader Roger Scott will share his expert WealthPress tips with those who are ready to start investing and seeing results.
Understand That You Need Help: One thing about investing is that nobody knows it all. There are always changes and new or expanding frontiers that you need to understand.
The first thing is to understand your position and then seek investing insight. You can do that by subscribing to Roger Scott, a division of WealthPress to gain insights into the investment tactics to adopt and the ones to avoid.
Here, information is your first tool, and as much as you can, get enough of it; you won’t regret it.
Determine How Much You Are Willing To Commit To Investment: The first rule common to many people is never to put all eggs in the same basket. This is why you have to determine what you can afford to invest.
The truth is, there are instances where the market turn will be unforeseeable, and people would lose their investment. If you have your investment spread across, you will have something to fall back on when the market takes its turn on you.
Be Informed About Where to Invest Your Money: many people make the mistake of reading about an investment opportunity on a blog and going ahead to commit their money to it. While the information you get there may be good, they are often times, not enough.
You need more than a 2500-word summary of information about an investment. You need to know how it works and the strategies to adopt.
This way, you will know when to invest and when to withhold your money. If you are willing to know more about investing your money, you can check out what’s in stock for you at https://wealthpress.com/.
As A Beginner, Go For The Safest: Yes, it is true that the safer an investment is, the lower the possible returns. But then, if you are a beginner, it is better you start your journey with hodl stock, and gradually move up.
If you choose to dabble into the top risky ones, and you lose your investment, it can affect your intuition and confidence level. And, when it comes to investing, you need these two the most.
Start out small and watch yourself grow till your intuition is strong enough to lead you to the very risky investment.
It’s not easy to keep up with the world of cryptocurrencies, coupled with the fact that the crypto market is just cooling. Prices are unstable, and there is an increase in the number of launched projects.
In this article, we had the pleasure of interviewing the Head Trader of WealthPress, Roger Scott. Roger Scott is a commodity broker and a hedge fund trader with 25 years of expertise under his belt.
WealthPress Head Trader Roger Scott has already been featured on CNBC, CNN, Forbes, Bloomberg, and Fox Business. And today, he’s sharing his invaluable insights with us on the current happening in the crypto market.
Can you tell us about the state of the crypto market?
The current health of the crypto market is obvious. Inflation is significantly above forecasts, and assets purchases are unchanged.
Everything is almost the same for altcoins. Bitcoin’s dominance index has not changed, and it stays at 44%.
Solana and Theta Network are distinct. The former was listed on Coinbase Pro today, while the latter was excited to include a $500 million DHVC venture fund under management as a validator.
Roger Scott, which noticeable factors failed to boost the market?
The index provider MSCI’s ideas regarding entering the cryptocurrency market did not have animpact on the market, though it could act as an extra instrument for institutional investors.
That’s not all. The SEC’s postponement of the SEC’s Bitcoin-ETF decision due to the regulator’s latest comments has also failed to incite any growth.
Hence, the market is now settled, following the previous week’s “hot” sessions.
How do you detect the valuable cryptocurrency in the market today?
The website coinmarketcap.com, which monitors the ‘market cap’ of cryptocurrencies, lists over 2000 currencies. Now how do you know which ones are valuable?
A good metric is the market capitalization – as in a publicly-traded company. It is simply the result of multiplying the total number of coins in circulation by the value of one unit. The higher the number, the more valuable the currency ecosystem.
Do you have any idea of the rate of network activity?
The network activity is low. The blockchain analytics company, Glassnode stated that both the futures market and the bitcoin spot market shaped a short squeeze scenario.
Usually, a significant decrease in the daily volume of transactions signifies a bearish situation even if there is a hike in bitcoin price. The liquidation of short positions under this condition is known as the short squeeze.
So, it is possible that the sales of those who want to release their short positions—to minimize losses—can increase the price of the asset. The bitcoin price boom of $38,677 led to the liquidation of short positions for more than 900 million.
Is this a record quarter for decentralized exchanges?
The decentralized finance (DeFi) market is here to stay. Its trade volumes corroborate this fact. The decentralized exchanges (DEX) moved more than $400,000 during the second quarter, and it is one of the areas with the most spectacular growth.
An increase of 11.751% in the volumes moved by DEX was caught between the second quarter of 2020 and this year.
The peak of activity that the cryptocurrency market experienced in May, just before the price-drop that led BTC to lose up to 50% of its value in two weeks, stood out.
Should You Buy The Crypto Dip?
Crypto prices have dropped substantially with the latest downturn. While this might be unsettling news for crypto investors, it can be a good buying opportunity.
As the Head Trader of WealthPress, I have been closely monitoring key data insights about the crypto market. Regardless of the crypto dip, I am still confident in the crypto market, and see this is nothing more than a temporary blip.
The latest phenomenon in the investing world is the idea of non-fungible tokens, or NFTs. Do you think it is smart to invest in NFTs right now?
NFTs, although still relatively new, have proven to be lucrative — with some digital arts already sold for tens of millions of dollars. It is definitely an interesting new type of investment, but it’s not for everyone.
If you have cash to spare and are curious about NFTs, it may not hurt to test the waters. Otherwise, it is best to watch this phenomenon unfold from the sidelines where your money is safer.