Should You Buy The Crypto Price Dip?

Advanced Forex Training Course

Should You Buy The Current Crypto Dip?

 

Introduction:

Cryptocurrencies have become one of the hottest topics within the trading community over the past 18 months, with people like Elon Musk really pushing the benefits of crypto into the limelight; but what we are starting to see is too many people purchasing crypto currencies and thinking they will be a millionaire over night or seeing the drop in price and ending up taking a loss.

This blog will address the latest Crypto dive and hopefully offer some guidance to those who are torn as what to do with their current portfolio or those torn as to whether to purchase some crypto now or not.

Truth:

Crypto trading is a waiting game and its all about patience. In our opinion with how widely known crypto trading is beginning to get; it is better to own some then not own any and miss the opportunities.

We have seen Bitcoin drop from highs of $64,889 earlier in the year to a current price of around $42,000 it seems like quite a large drop but let’s remember that Bitcoin was trading at around $20,000 in December 2020 so it has doubled in only 9 months. The current drop in our opinion stems from fear of investors. After China announced the potential ban on digital assets, we have seen a huge sell off with the bears currently controlling the market.  Unfortunately, even if you don’t trade Bitcoin and have an alternative such as Litecoin or Cardona you will be seeing the red during this sell off due to so many crypto currencies and investors following Bitcoin.

Even though people may not see it right now, this could be one of the best opportunities to start buying cheaper cryptos whilst the price is good, and it doesn’t have to be Bitcoin or Ethereum it could be Litecoin, Cardona, Stella Lumix etc… Make sure you do your research and if you are going to begin building a portfolio; look for ones you believe in. Learn how they differ and what they bring to the community. In our opinion Crypto trading seems to be the future; with current price predications for nearly all Cryptos demonstrating strong appreciation in the current months and years people are now realising crypto is long term investment, but can deliver some life changing results.  

Crypto can provide a basis of passive income; but you will need to be patient as you could do shorts on crypto, but why not hold it. Leave it in your trading account as you would leave it in a bank and check back every few months.

Conclusion:

Don’t be afraid to be different. Whilst everyone is selling why not start buying; whilst others are losing why not put yourself in a position to be a winner. There will come a day where the majority of people own a form of crypto currency; and it can almost be certain in a few months maybe even a couple years you will see those saying, “thank god I started buying it then” and those saying “I wish I had brought some when it was that price”.

Which one are you going to be!

Disclaimer:

Everything mentioned within this blog post is our opinion, it is within no way financial advice and if you disagree then please don’t place any investments based on this information.

Thank You For Reading

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