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Complete Guide: How to Become a Cryptocurrency Analyst

by | Jun 12, 2023

Cryptocurrency is an emerging field that certainly requires in-depth knowledge and analysis of underlying trends. Cryptocurrency financial analysts use their skills further to provide insights into the market and make a profit. In this guide, we’ll teach you what cryptocurrency is, who crypto analysts are, why they exist, and how to become one yourself!

What is Cryptocurrency?

Cryptocurrencies are digital currencies. This means they do not have any physical form. Moreover, they exist only on the internet and can be used to make purchases or send money to other people worldwide in much the same way as cash or credit cards.

Cryptocurrencies are decentralized, meaning no central authority controls them (the opposite of a centralized currency). This makes them very different from traditional fiat currencies like dollars, pounds, or euros issued by governments or central banks and backed by gold or silver reserves held by these institutions, respectively.

Furthermore, they do not have any such backing; they rely on complex mathematical algorithms known as blockchain technology for security.

Who is a Cryptocurrency Analyst?

A cryptocurrency analyst is a person who analyzes the cryptocurrency market. The main job of a cryptocurrency analyst is to predict the price of cryptocurrencies. A good cryptocurrency analyst needs to have a good understanding of the market and can use various tools as well as techniques to make predictions.

Cryptocurrency analysts work with different data types, such as historical prices, technical indicators, news articles, etc., to forecast future price movements based on these factors.

What does a crypto financial analyst do?

Cryptocurrency analysts perform tasks such as predicting the future prices of cryptocurrencies, and they use both fundamental and technical analysis to do so.

Fundamental analysis is a way of evaluating a company’s financials to determine its value as an investment. This can include revenue growth, profit margins, and cash flow statements (among others).

Technical analysis involves looking at the market rather than individual companies–it focuses on price trends over time instead of just one snapshot in time.

How to Become a Cryptocurrency Analyst?

Keen interest in becoming a cryptocurrency analyst, you’ll then need to learn the basics of cryptocurrency. By understanding how blockchain technology works and what makes each type of cryptocurrency different, you can better analyze them as an analyst.

Next, you must learn about different trading strategies to apply them when analyzing cryptocurrencies. Understanding these strategies will allow you to make more accurate predictions about whether or not a particular coin will rise or fall over time (and by how much).

Learning about exchanges is crucial for any aspiring crypto analyst because this information gives them a better understanding of why certain coins are being bought up so quickly. While others remain relatively stagnant or even decrease in value over time (these situations often occur when there isn’t enough liquidity).

Lastly–and most importantly–a crypto analyst requires basic knowledge regarding wallets and mining before they can begin making accurate forecasts based on their analyses.

How to Start Cryptocurrency Analysis?

  • Start with reading articles and watching to get a basic understanding of things.
  • Find a mentor or community to learn from the experts and share your work with others in the field who can provide you with constructive feedback and direction on improving your skills as an analyst.
  • You can skip the previous step and join a course that involves practical assistance from industry veterans who can help guide your career as a cryptocurrency analyst.
  • Build a portfolio

Resources for Cryptocurrency Analysts

The following resources are recommended for analysts:

  • CryptoCompare
  • CoinMarketCap
  • Cointelegraph
  • Coinsquare

What are the requirements to become a cryptocurrency analyst?

To become a cryptocurrency analyst, you must have a bachelor’s degree in finance, economics, or business. Additionally, you should have at least one year of experience in the financial industry and expertise in data analysis. Strong communication skills are also crucial as they will help you communicate your findings effectively with others within your company.

If you are still pondering whether being a crypto analyst suits you, why not take up bootcamps to help you get a better understanding of this field?

Finally, you must be passionate about cryptocurrency because this field is still very new and constantly changing!

What is the cost of becoming a cryptocurrency analyst?

Becoming a cryptocurrency analyst comes with various costs. The first and most obvious is education. Depending on your background and experience, this is as simple as taking an online course or attending a short seminar.

If you don’t already have an undergraduate degree in computer science or finance (or similar), then you’ll need to pay for classes at the college level–which could cost anywhere from $20K-$100K+.

Suppose you want to get certified as a cryptocurrency analyst by industry experts at affordable rates. In that case, Vertical Institute Blockchain and Cryptocurrency Course might be curated to your needs and covers the following benefits for students:

how to become crypto currency analyst
  • 21 hours of training, which includes 7 three-hour lessons.
  • Taught online via Zoom.
  • 1 instructor and 2-3 teaching assistants.
  • This program has been evaluated and accredited by the IBF.
  • Dedicated career support and matching with hiring partners
  • Flexible course schedules outside working hours allow you to learn whenever it is convenient for you.
  • Leading experts from Google, Apple, Alibaba, and more conduct classes.
  • Our Bootcamps are beginner-friendly, with no prior knowledge required.
  • Use your acquired knowledge and skills to solve a real-world data-related problem.
  • Bootcamps: Blockchain and Cryptocurrency Bootcamp
  • The entire course fee is $2,675 before subsidies.
  • Course fee reducible from $950 to $1450 (to all Singaporeans and PRs).
  • The remainder is being offset using SkillsFuture Credits and NTUC UTAP.
  • It is designed to equip students with the most in-demand skills and best practices in Blockchain and cryptocurrency.
  • Vertical Institute’s Cryptocurrency & Blockchain Bootcamp will dive deep into blockchain technology and cryptocurrencies from a historical, theoretical, technical, and practical perspective.
  • This comprehensive program will teach you about Bitcoin, blockchains, cryptocurrencies, NFTs, decentralized finance, and more.
  • Get hands-on experience with in-class practical activities and real-world examples.

What is the job outlook for cryptocurrency analysts?

The job outlook for cryptocurrency analysts is good. Based on U.S. Bureau of Labor Statistics data, employment of financial analysts is expected to grow by 9% from 2021-2031. This includes those who work in securities and commodities analysis.

Crypto analysts have many opportunities because major companies such as Goldman Sachs Group Inc, JP Morgan Chase & Co, and Bank of America Corporation actively seek skilled talents to join them.

Cryptocurrency analyst is a job title growing in popularity as the crypto market continues to grow. It’s for more than just people with computer science or economics degrees–anyone can do it! Becoming a cryptocurrency analyst may be suitable if you enjoy analyzing data and making predictions. It’s also an excellent way of making money online from home.

Conclusion

We hope you have enjoyed reading this article, and we desire the best of luck on your journey to becoming a cryptocurrency analyst! If you have any questions regarding the course mentioned above, don’t hesitate to get in touch with us at [email protected].

About Vertical Institute

Vertical Institute prepares individuals for the jobs of tomorrow. We specialize in teaching in-demand skills, and building the next generation of changemakers and inventors through our world-class tech courses and certifications. 

Singaporeans and PRs can receive up to 70% of IBF Funding off their course fees with Vertical Institute. The remaining fees can be claimable with SkillsFuture Credits or NTUC UTAP Funding.

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