Crypto has had a longtime bearish market situation as evidenced by the sharp fall in the Bitcoin price from it's all time high of $68k to $20k in a space of a year. Bitcoin is believed to be the mother of all coins. Whatever happens to the Bitcoin the rest of the coins just follow suit.
It's important to note that Cryptocurrency is highly volatile. It is subject to up and downward price movements/changes. This, makes Investing in Cryptocurrencies a highly risky venture compared to stocks. It's therefore advisable to invest money that you can afford to lose.
In trading, whatever goes down must always come back up. Cryptocurrencies will recover from the current long time bearish market situation. Crypto Investors should therefore opt for HODL as the prices will go back up. Some speculators think that Bitcoin will hit an all time high of $100k.
Regardless of the negative news and bias surrounding crypto at the moment, the way forward is HODL, things will become better in the time to come. Blockchain Technology has never failed. It is the future and Crypto is also the future. Whoever wishes to invest in Crypto at this moment should do so with a long term mentality. You shall win when you do not give up.
There is no need to get into panic selling off our crypto assets because that means losses. Some end up in such a situation due to the emotions of fearing to lose the large sum of money they invested. Never gamble with the money that will leave your family into struggles or affect your financial goals. Simply invest what you can afford to lose so that to safe guard your emotions incase things don't go as desired.
Posted Using LeoFinance Beta
One time I bought dogecoin at the rate of 20,000naira and I held it for 6 months plus, only it didn't go up, I had to sell it for 11,000naira later cause it wasn't my money, to begin with, that made me understand, I shouldn't use money that I can't afford to lose.