Cryptocurrency prices have been crashing over the past few weeks. The price of Bitcoin (CRYPTO:BTC) is down 50% since its peak in mid-April. Ethereum (CRYPTO:ETH) has fallen by nearly 55% since the middle of May, and Dogecoin (CRYPTO:DOGE) is down a whopping 73% from its peak in early May.
While falling prices can be cause for concern among investors, they can also make for great buying opportunities. This is especially true for higher-priced investments, and buying during a downturn can make them more affordable.
With the crypto market crashing, it may seem like a smart time to buy. But should you really invest now? Here’s what you need to know.
Finding the right time to buy
In theory, it makes sense to try to buy investments when their prices are lower, then sell once they reach their peak. However, this is far more difficult than it sounds.
Timing the market is incredibly challenging, and it’s even more difficult with cryptocurrency because these investments are far more volatile than the average stock.
Crypto prices have been on a wild rollercoaster ride, so trying to