Investing in Crypto Today: Right Time or Not?
The month of May 2021 is considered as one of the bloody month for most of the existing cryptocurrencies. When Bitcoin starts to crash some of the major tokens follows it suits, it includes the Bitcoincash and Etherium. This event is one of the confusing part in cryptocurrencies whether it is a good time to invest or buy your favorite crypto because it is in a lower price. In investing in a certain crypto you need to first conduct a research for that and prepare yourself if you are ready to take a risk. We can say that it is a good time to buy your favorite crypto because of its latest downturn, it maybe wise to invest in crypto when price are lower but you need to consider this things.
1. Know your Budget
A lower price of crypto is not a total assurance that you can earn a profit after you invest, there are certain risk when you invest in crypto. Prices of cryptocurrencies maybe lower today but it not necessarily mean that it is good for all of us. If you face a tough situation in your financial status, I can say that this is not the good time for you to invest in crypto. There’s a chance that you can lose all the money you invest. If you invest your savings today there’s a chance that the price of most crypto will continue to drops. If you want to invest in crypto today make sure that you have a stable financial budget. Don’t put your future at risk, you can still invest today but remember just invest the money which you can afford to lose to avoid regrets at the end.
2. Seek Advice to a Person who have enough knowledge about crypto
Investing in crypto is like a gambling, you cannot predict the outcome of your action today. To ensure that you are properly guided before you invest in crypto you can seek the advice of some professionals or expert who have enough knowledge when it comes to cryptocurrencies. Don’t be carried away, don’t think that because the price of most crypto today is at lower price you will conclude that this is the right time to invest. No one can predict if this downturn will be in a long term situation or not. A few years ago, some cryptocurrencies that face a downturn bounce back eventually after a dip, but today there’s no guarantee that all of the crypto can survive or recover. Its good to seek the advice of the expert before you invest. Think wisely before you decide, are you able to handle the risk in the future?
3. If you really want to invest, invest in a crypto which is less RISKY
Always remember that not all cryptocurrencies has the same standing in global market. Some of the crypto currencies today is at risk and some of them has a bright future ahead. Investing in a less risky crypto can save your financial status. For example if you want to buy Bitcoin, Bitcoincash and Ethereum we can considered this crypto investment as a less risky, because this crypto is one of the major cryptocurrencies today. Major crypto is less risky to invest they have a higher potential to success in the future because they have a lot of usage in the world. This crypto already build their names and can be considered as strong cryptocurrencies.
As for me I choose to invest in Bitcoincash, why? Though Bitcoincash is a fork of Bitcoin, Bitcoincash is the largest and successful fork of Bitcoin and I can see a greater potential in Bitcoincash to succeed in the future. This is just my opinion if you want to invest in Bitcoincash, just know your heart or follow your instincts. It can be considered as a smart move if you invest today.
©️Ezy10
