10 Things To Know Before Investing Cryptocurrency On The Dip
After a year in which its price marched (mostly) upward, Bitcoin, the world’s largest cryptocurrency, lost nearly half its value.
Experienced crypto investors know that volatility is par for the course, and would warn newcomers to prepare to ‘Hold on for Dear Life (HODL)’ when they make an investment.
Keep risk in mind.
There’s no guarantee that cryptocurrency prices will rebound anytime soon. Just as it’s impossible to know when we’ve hit the bottom of a stock market correction, there’s no way to recognize the bottom of a crypto dip until it has passed.
Know that cryptocurrency markets can swing wildly.
Cryptocurrencies are still in their relative infancy. (Bitcoin, the king of the crypto market, has only been trading since 2009.)
Not all cryptocurrencies are created equal.
Though all cryptocoins have some level of volatility, some fluctuate even more wildly than others.
Take the long view.
Long-term investors don’t have to worry too much about short-term market volatility, since they buy and hold investments for their longer-term performance.
Swipe up for more Things To Know Before Buying Cryptocurrency On The Dip