Is it good to buy the dip?
Although the market has crashed significantly with a market cap of roughly $350 billion dollars, its clear to see that some people are looking to invest during this crash.
There are significant risks with this: cryptocurrency is an unpredictable game where manipulation runs rampant. The very nature of "de-centralisation" causes this rampant manipulation. Its almost guaranteed that many people will lose out whilst some will battle it through to see victory in the long run.
Alongside risk, there is almost always reward - and this is the very case we have today. With the prices of cryptocurrencies at near bargain rates such as ICX at $2.42 and our very own STEEM at $2.35, the room for profit is immense. Whilst it may be tempting to buy this dip, think of your reasons for buying crypto. Assure that the mindset you approach it with is a long-term investment where it will take time to grow. Crypto won't be destroyed and will grow, its just the matter of patience and when, not if.
If you have disposable income that maybe reduced significantly but has a great potential in the future, buying successive dips may be the way to go.
What are your opinions?
Thanks for reading!
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Disclaimer — I’m definitely not a professional and am obviously giving my own opinion, not advice. Never invest what you aren’t willing to lose. Always research on your own before investing. I do not hold any responsibility at all.
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You got a 19.75% upvote from @upmewhale courtesy of @guidescrypto! Earn 90% daily earning payout by delegating SP to @upmewhale.
It’s really hard to tell. Buying the dip is always a good plan but one never knows what the bottom of the dip will be!
I myself did invest something extra on Wednesday thinking that it was a good idea.
Today I know that I was just too early!
In my opinion, for cryptocurrency, the chart cannot tell anything.. Just for reference.
I wouldn’t just fire blindly. At least wait for a rebound or learn to use some oscillators and moving averages or something. Personally I think crypto is fucked for the This year if not the next couple years. Mtgox 2 will keep bitcoin price pressure down.
How it feels when you thought you bought the dip but it keeps dipping
350bil market cap, id say its great time, worst case it goes back to 100bill... thats only 3x down!
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