Thousands of investors jumped into crypto investing over the past two years in hopes of a rocket ride to instant wealth. Many investors are tempted to try bitcoins out, hoping to make quick investment returns because people haven’t seen such high returns from other investments within such a short period.
Now investors face a reckoning: Prices for cryptocurrencies from relative stalwarts such as bitcoin to more exotic altcoins have cratered since reaching all-time highs in early November, wiping out an astonishing $1.35 trillion in value globally. But many people still think that investing in bitcoins is a good idea. They are right.
Bitcoin started 2022 on a more relative high note than stock markets in the USA and Europe. Despite falling back significantly from its latest all-time high price, many experts still expect Bitcoin’s price to rise above $100,000 at some point describing it as a matter of when not if. The future of cryptocurrency is sure to include plenty less volatility, so this is all par for the course.
Potential investors looking to buy the dip should understand that fluctuations are par for the course, and be prepared for this kind of volatility going forward. Even if you invest now, with prices relatively low, be prepared for them to fall even more.
If you've been considering investing bitcoins, right now is one of the most affordable times to invest. But does that mean it's a smart investment?
Use a buy-and-hold strategy or long-term strategy. Investing in bitcoins for the long run gives you more buffer for volatility. Be prepared to keep your money invested for at least a few years. There is no one has ever lost money by holding bitcoin for four years.
Be patient and rational. Only put in what you’re comfortable with losing after you’ve covered other financial priorities, like emergency savings and more traditional retirement funds. Take the time to read market analyses and do extra research on why the market is in a downtrend to determine how briefly or permanently these factors might affect bitcoin prices.
Start from the crypto exchange platform. It is an easy way to buy your first bitcoins. Depending on how much you want to spend, you can buy a fraction of a bitcoin, one bitcoin, and ten bitcoin. After you’ve been verified, you can start buying bitcoin with your chosen payment method, transferring it to your personal wallet, and watching with greater interest as its price fluctuates.
Which crypto exchange should you pick? Try EvBlock. It is an innovative, secure platform that was built by fin-tech professionals licensed by Swiss law. Simple interface and user-friendly support are excellent for beginners. Welcome to https://evblock.com/