3 Tips For Millennials Navigating The Crypto Bear Market
The past year has been quite a ride for Bitcoin and cryptocurrency investors — especially millennials. The crypto market hit its lowest point of the year last month, losing over 70% of its value from its high in January. Since then, it has recovered over 20% in the past month.
Millennials who are less familiar with bear markets may feel particularly unsure of how to handle this new and volatile market. Most millennials were just entering the job market during the recovery from the 2008 financial crisis. While they know how bad it can get, they are less experienced with navigating a market experiencing this type of change.
In reality, this explains a degree of crypto’s volatility. Currently, 58% of cryptocurrency investors are between the ages of 18 and 34. This should not come as a surprise as studies show that 7 out of 10 millennials are likely to consider non-traditional financial offerings.
While millennials are new to bear markets, they are the generational users of choice for crypto.
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Disclaimer: Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This article is for informational purposes only, and is not financial advice. The information does not constitute investment advice or an offer to invest.