How Crypto is doing these days| Time to buy the Dip?
May month has not been doing good for crypto so far because we have seen the prices crashing in the last 1 week. Be it Bitcoin or altcoins but everywhere the last 7 days' price change is in red and there are hardly any coins that are in green color else all-in red. This is drop is mostly in double-digit numbers and even difficult to say if the prices will recover now or not. This is not the first time when we have seen the prices falling like this and those who are in crypto are familiar with this kind of crash in the market. In fact, this is a good opportunity to buy more for the people having long-term goals in crypto.
We have two types of people in the crypto market. Weak hands and strong hands so people who are weak hands get panic with this kind of crash and they do panic sell which is not a good idea. Bitcoin, Ethereum, and Binance coins are the leading ones and prefer to buy but there are some more that we can buy if there is a good dip in price. As of now, all these leading coins are down by more than 10% and terra is down by more than 26%. Luna is a solid project and they have been buying a lot of Bitcoin but it's also down which
I have completed over 4 years in crypto and I have seen many ups and downs in the market. There was an also time when I saw bitcoin at 19k and within the same year, it was less than 4k USD which is a big dump, and obviously, I was worried at that time. The reason was simple I was new and I did not want to lose my money. I wanted it to pump so that I can sell and take exit but fortunately and unfortunately this did not happen in 2018. I never prefer to sell anything on loss and the same I followed with Bitcoin I kept on holding whatever I had and this was a good decision because during the last bull run its value got multi-folded and even, I did not sell because I had decided to for long term.
I do understand that the current market situation is not pleasant for many, especially those who are new and don't have holding power but I simply know that this market is not for easy money and proper planning and strategy are required to invest. I think that this is a good time to buy because Bitcoin and crypto are not going anywhere and I am not at all worried about it.
I hope that the below snapshot can make you feel better. We know that the crypto market crashed almost all the coins go on the downtrend and similarly tokens like Hive, Leo, etc are down and now Leo is so cheap. I mean one can get 1000 Leo for about 100 USD there is nothing to worry about Leo. We know that this is a growing project and the current drop is just the market effect and it will recover soon. I will definitely buy some LEO and for this, I am trying to arrange some funds.
Price fluctuation is the nature of the market and crypto is in no way different. As per my experience, I can say that this is not the first and even not the last so if you are not a seller then just relax and try to buy some good coins if possible and DCA is one of the best ways to buy crypto now and HODL for better returns in future.
Thank you.
Posted Using LeoFinance Beta
