The cryptocurrency market has had a whirlwind of a year so far. After several major cryptocurrencies reached record highs over the last few months, many of them are now seeing their prices plummet.
In some cases, buying the dip — or investing when prices are at their lowest — can be a smart investing strategy. You have the opportunity to stock up on solid investments at a discount, then reap the rewards once prices bounce back.
However, investing in cryptocurrency is not quite the same as buying stocks. While stocks have a long track record of increasing in value over time, cryptocurrency is relatively new to the scene and nobody knows what its future holds.
If you’re on the fence about cryptocurrency, should you buy now when prices are lower? Or wait to see whether the crypto market recovers? Here’s what you need to know.
Consider your investing strategy
Whether you choose to invest in cryptocurrency right now will depend on how long you plan to hold your investments.
One of the best ways to build wealth is to buy solid investments and hold them for the long term. While it’s possible to make