Cryptocurrency Markets Taking a Battering
Things are certainly looking gloomy at the current moment in time for cryptocurrency users and investors, for over the past 24 hours or so all the leading cryptocurrencies have been taking a real battering on the trading exchanges, and if you are sat there now pondering what to do with your cryptocurrency holdings, then you are not alone!
I have always said that when the value of all major cryptocurrencies starts to drop, and become at their most volatile, that is the time you should keep your nerve and never start to panic, in fact that is what I do know a lot of experienced and savvy investors are doing.
It is at times like these when many of the savviest investors start to buy more cryptocurrency holdings, and you only have to take a look at the digital currency exchanges to see that is what some investors are doing.
However, having said that I do know that some people have a herd mentality, and will now be panicking and selling off their cryptocurrency holdings, fearing the whole system will come crashing down, but whether you want to believe me or not that isn’t going to happen.
Over the next few days or weeks you are going to see all the major and leading cryptocurrencies start to move upwards in value, and if you are not prepared to take the rough with the smooth then you should not be investing in cryptocurrencies and should stick your money in a savings account!
Spread Your Money Around
You will have probably heard the saying that you should spread your money around, especially when you are an investor, and that is one thing that is very true to say about the cryptocurrency trading environment.
Even Though you may see for example the value of Ethereum drop dramatically, the coins and tokens that are built on that blockchain are often where there is the very good chance of some huge gains being made, even Ethereum’s value is dropping dramatically.
As such, if you are new to the cryptocurrency trading environment then keep your options open and consider taking part in a handful of coin and token generation events or initial coin offerings for you really are going to find you can snap up some very low coin cryptocurrencies that way and some of them could make some enormous profits over a very short space of time.
As for the value of bitcoin and Ethereum and whether those values are going to crash through the floor, well that is something you are going to have to watch and monitor, but no matter what the headline you may see today there is no getting away from the fact that cryptocurrencies are here to stay and there will always be a demand for them too.
If you are a brave investor and are looking to snap up some low-cost cryptocurrencies then now is the time you should be doing just that, so make sure you do!
How Far Could Bitcoin Drop?
Before I sign off for the day, I have been contacted by a friend of mind who is worried that the value of Bitcoin may fall off the edge during the course of the day, and I am of the mind and I am sure anyone with any experience of Bitcoin will be of the mind too that it isn’t going to do anything of the type.
There is and always has been great demand for Bitcoin and its value is always going to be determined by supply and demand, but there is a value at which Bitcoin is going to be irresistible to investors, and I am convinced that value is round about its current value at a tad under $8000.
If you have some spare funds that you are prepared to invest, then now would be as good a time as ever to buy into that cryptocurrency but do ensure that you are aware of the risks not only in investing in Bitcoin but any other cryptocurrencies too.
Give it a few days and I just know the Bitcoin markets will have settled down, and with a little bit of luck those who did take advantage of its current low price will be looking at some fairly decent profits, but at the end of the day it is always going to be your decision just when and if you do invest in Bitcoin, so that is a decision that you are going to have to make for yourself.