Crypto Down Market is the Shot
Success is all about taking risks and seizing chances. This tends to be a common trait no matter what you’re trying to accomplish. The crypto world is no different, and the same rules apply here. The only difference is that the stakes are always high as it’s a relatively new field and there are a million fish in this sea, most being Basaria. So, you will always find yourself wondering which currency to invest in, fearing you would lose all your money, or you might just find a hidden gem and become the next SBF..
That’s why a great idea is to seize the chance of the down market. Just like the stock market — in which you buy a stock when its price drops, wait for it to rise again due to high demand, then sell it for a higher price — the same applies to cryptocurrency.
The Drop-in Cryptocurrencies
Recently, the price of Bitcoin and other cryptocurrencies fell to new 2022 lows as investors dumped risk assets in response to increasingly high inflation. To make matters worse, popular crypto lender Celsius paused all account withdrawals and transfers on the night preceding the price drop due to “extreme market conditions.”
On the day of the drop, $BTC was down more than 13% over the prior 24 hours, with the benchmark cryptocurrency trading below $24,000, its lowest level since December 2020. Ethereum prices dropped around 16% to less than $1,300, while Litecoin and Bitcoin Cash prices were down more than 13%. Bitcoin prices are now down by 50% a year to date and are trading well off their all-time highs around $69,000 in November 2021.
Why this is an opportunity
It’s not the first time the crypto world has suffered such a crash, and it always came through. Financial experts say volatility is an essential part of crypto, but it works both ways. This means that while cryptocurrencies are bound to drop in price for one reason or the other, they are also bound to rise up again. And that’s why this market drop is an opportunity for both newbies and savvies to invest in crypto. However, it is advised to be cautious and do a lot of research before investing.
There are several platforms that can help startups get their spot on the map in the crypto world as well as push megacorps to enhance their business and realize their potential such as LitBit Finance. LitBit’s top-tier Incubation and launchpad, available to crypto startups will bring projects with the highest potential to the crypto space, making this down market easy to navigate with all the information needed to invest for new and experienced investors.
Not only that but also big crypto names like BitCoin and Ethereum are now more or less affordable than they were before. The reason those two names in particular are mentioned is that they are the biggest names in the crypto world, and thus they are bound to be the first to rise again in the next prosperity wave. So, it might be a perfect idea at the time to buy a dip coin that is meant to buoy on the surface sometime in the future.
