Many investors, especially beginners, refuse to invest in cryptocurrency after the first drop. But do not forget that both stock markets and the cryptocurrency market are characterized by cyclicality.
There have been and will be crises, some of them can be predicted, and profitable positions can be closed. And some come unexpectedly.
However, this loss is only possible if you dare to sell your assets. Therefore, the main thing here is to be patient and wait out the downturn. After all, every crisis is a new opportunity, and every recession is a prerequisite for the next growth.
Currently, the world economy is going through a crisis, and crypto markets are no exception. The price of most currencies has declined significantly against the backdrop of future uncertainty and investors’ reluctance to take on much risk.
However, on the other hand, isn’t now the time to create your first crypto portfolio and profitably open positions when prices are at a fairly low level? Or should I add a couple of coins to my existing portfolio, thus adjusting my portfolio and reducing the gap in prices?
The biggest danger in long-term investing can be low-quality cryptocurrency, which can lose its value. Therefore, not knowing how the cryptocurrency market works, which indicators to focus on, leads to a loss of capital. Never invest in something you don’t know. Even the advice of friends, colleagues or relatives can be wrong.
It is another matter if you can independently analyze whether the currency is reliable and whether growth is possible after a certain period of time.
By the way, especially for novice investors, we advise you to take the course “Investing in cryptocurrency” from the Academy of the Ministry of Finance. In just 40 days, you will start analyzing coins using services, filters and levels, predict risks, trade on exchanges, and create a crypto portfolio.