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Top 5 richest people according to Bloomberg
Bloomberg has released its August 2024 list of the world's wealthiest individuals, showcasing the titans who dominate global business. Let's take a look at who sits atop this prestigious ranking
Buy and forget
Analysts say that one of the simplest and most efficient strategies is a long-term investment in the cryptocurrency. Experts are certain that buying BTC with a view of its long-term appreciation is a sensible approach. In this case, it would be a good idea to spare extra funds which are not planned to be spent in the near future and invest them in the digital asset, namely in bitcoin. Experts share the outlook that the number one cryptocurrency will advance notably in five years. So, it makes sense to make such investments for a five-year term and longer.
Averaging
This strategy suits well most traders because it is complicated to recognize the perfect moment to buy bitcoin. Experts warn that bitcoin is likely to fall in value a few times before it enters a phase of a long-term climb. Therefore, a lot of investors are pleased with the strategy called Averaging. In essence, an investor splits one’s capital into several shares to buy bitcoin with each share. In case the cryptocurrency loses ground, the investor is able to buy extra tokens. As a result, the average price of a coin gets lower. The best option is to invest $10 daily in bitcoin. Analysts believe that it will generate solid income in the long term. Nevertheless, experts advise market participants to have some extra savings in case bitcoin suddenly takes a nosedive.
Diversification of digital portfolio
The diversification strategy is applied perfectly both to the equity and crypto markers. Experts recommend that apart from bitcoin a portfolio should also include other digital assets. This approach guarantees high returns. On the flip side, an investor should be aware of bigger financial losses due to high volatility of the crypto market. For example, in March 2020, bitcoin plummeted 53% to $3,800 from $8,000 per token. Ethereum logged a deeper slump of 60% to $86 from $213. Remarkably, having won back all losses, ETH has soared 345% and BTC has climbed 250% by November 2020. If one of the cryptocurrencies in an investment portfolio has gained in value notably, it is recommended to take profit and invest these gains in other digital tokens. Experts recognize this strategy as the most rewarding of the others.
Bloomberg has released its August 2024 list of the world's wealthiest individuals, showcasing the titans who dominate global business. Let's take a look at who sits atop this prestigious ranking
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