Pursue Crypto Development in the Bear market
One section (of crypto space) has taken the observer’s route, while the other has taken the buy-the-dip route.
Crypto market was witnessing growth just a few months ago. However, most cryptocurrencies (including Bitcoin) have dipped (in value) over the past three to four months. A serious debate is underway about whether the crypto space is mired in a bear market. Well, from the instances, it looks like it!
Long-term Perspectives will Help Thrive!
Cryptocurrency has long been seen as a digital goldmine, but it, like any other asset, has its ups and downs. Instead, consider the market from a long-term perspective.
The term "cryptocurrency" refers to a sort of digital currency. It may be used to buy products and services, much like physical money. There are thousands of different types of cryptocurrency available today, some of which are more well-known than others.
Take Bitcoin (for instance), which has seen numerous ebbs and flows throughout its journey. A few years ago, back in December 2017, Bitcoin witnessed a sharp decline from $20000 to $3000 in just a few days to only rebound in a matter of a few weeks.
Simply put, the sudden uprise and decline is a norm in the crypto market. Planning for a long-term haul is the better solution!
Buy-low-sell-high Will Be the Norm!
Well, it has always been the norm regarding any investment. However, amidst the current bear-ish market, this tactic will have its relevance.
When faced with massive price decreases, it's all too tempting to try to cut your losses. If you do, though, you will not benefit when prices begin to rise again. Furthermore, after a significant decrease, selling goes against one of the oldest investment rules: buy low and sell high. Granted, timing the market is difficult, so this is easier said than done. On the other hand, selling at a loss will lock in your losses.
Should I really Make the move?
Buy the Dip - a common tactic in the investment world, involving buying of assets during the price drop. One section (of crypto space) has taken the observer’s route, while the other has taken the buy-the-dip route.
If you’re an entrepreneur reading this, the move to cryptocurrency development will potentially benefit you amidst the bear market.