Is It Wise To Invest In Cryptocurrencies Right Now?
With the way cryptocurrencies have been going, there are many questions concerning what’s next and if there is still a future in crypto.
Recently I was conversing with a friend who felt like an investment in crypto right now would be unwise and even though, he made certain points that could be considered understandable, my opinion on this topic was way different.
The reality of crypto has always been that it is a high-risk investment and even though it can be a good investment, there is a high chance that you might lose all your money; regardless of the bear market.
Cryptocurrencies have been falling all through 2022 and I am sure a lot of people have pulled out due to fear, but a lot of people are also trying to get in because it is fairly cheap to do so now.
Anyways, if you plan to invest in crypto, especially right now, you need to do it based on research and not the hype.
I know right now, a lot of people are talking about a bull run and the anticipation of it is making people want to come in but, if you want to, you need to have it at the back of your mind that this investment is a long term one and you need to ask yourself some questions;
• Will I be okay if this bear run continues?
• Am I doing it because I want to get rich quick?
• Am I prepared to deal with everything that comes with this investment?
• Will I be okay if I lose all my money?
If you can answer all these questions without your heart skipping a beat, then you should do your research and figure out how to get in but, if your answer is no, well, it depends on you.
The reality of life is that everything can be risky depending on how you look at it, so you can either take a chance or play it safe.
So yeah, Is it wise to invest in crypto right now?
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👍🏻 Currently we have buying zone in my view if you believe in crypto and want to invest longterm.
Exactly, it's the best time
Like I'd always say Crypto isnt for the greedy and impatience. If you enter crypto with the mindset of quick money, you'll be among those who keeps on calling crypto scam.
He'll yea, DO YOUR OWN RESEARCH
It's very important to research, especially with investing, nothing is completely safe
The simple answer is that people should only invest what they can afford to lose
Exactly!!
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STOPCheck out the last post from @hivebuzz:
Crypto investment is not one anyone can accurately judge, so waiting for a more perfect time, might lead to a life time of waiting.
Because if then because of the continuous bear refuse to invest, then such person should be ready to bit their fingers when it's pump.
Overall, Patience and swiftness is essential.
You just spoke facts, indeed there isn't exactly a perfect time to invest