This week was a pretty rough one for the crypto market ๐ฎ๐จ. Coin prices started the week trading down, and while there was some relief on Monday and Tuesday, it didn’t last long. With Bitcoin trading below $20,000 again, a lot of investors might be buying dollars and USDT (US Dollar Tether). But others could see this as a good time to buy Bitcoin at a low price.
However , here are some things to keep in mind:
Crypto has always been volatile — even more so than stocks or commodities — so these kinds of drops shouldn’t come as a surprise! In fact, they should be expected because this is just part of the game when it comes to investing in cryptocurrency. That being said…
These types of dips can be an opportunity for those who missed out on making profits during last year’s bull run. While there are no guarantees that things will bounce back up soon, if you do choose to invest now
Why is Bitcoin taking a beating? ๐ค
The biggest reason why Bitcoin is taking a beating is because of its price drop over recent months. It has also been negatively affected by regulatory issues and other factors which have eroded investor confidence in cryptocurrencies as an asset class.
In addition to this, there has been increased interest in alternative coins like Ethereum and Litecoin as a hedge against Bitcoin’s price volatility.
But, with inflation still an issue around the world and crypto adoption growing, Bitcoin will be back! ๐ On the flip side, it’s a great time to save in US Dollars.
Is There Still Hope For Some Extra Bucks Amidst The Bitcoin Dip?
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In addition to this, there has been increased interest in alternative coins like Ethereum and Litecoin as a hedge against Bitcoin’s price volatility.