Crypto Market Crash: Should You Buy While Others Are Selling?
"Buy the dip" has worked in the past. Will it work again?
There's simply no way to sugarcoat things: The crypto market seems to be in free fall, and many top cryptocurrencies are down 40% or more for the year. Even Bitcoin (CRYPTO: BTC), which is often referred to as "digital gold," is down 20% from its all-time high in January.
Understandably, many crypto investors are wondering what to do next. Is this a unique buying opportunity, with many cryptos selling at bargain prices, or is it the last chance to sell before the bottom really falls out of the market? Let's take a closer look.
A "buy the dip" strategy has worked well in the past, so many long-term crypto investors are convinced it will work again. A "buy the dip" strategy is very simple: Anytime a cryptocurrency on your watch list falls by a specific amount (typically anywhere from 10% to 20%), you scoop it up at a bargain price. This strategy works best, of course, if the long-term trend for that investment is upward.
