Blockchain technology has been no less than a revelation, and its proudest exponent, Bitcoin, is priced at a whopping $9100.00, as of the 5th of April, 2020. Cryptocurrencies are finding global acceptance with each passing day, and some Governments have gone on to create cryptocurrencies of their own. Investors are always looking for opportunities to invest in a cryptocurrency, and reap profits off its rising price. With that being said, Bitcoin and the crypto market are very volatile and everyone who has been in the market for a while knows that crypto tend to also drop in price rather swiftly. That is why we will today cover a guide on how exactly you can profit from the decline of cryptocurrency prices.
1. Buy The Dip
Buying the dip is easier said than done. As is the case with the market right now, cryptocurrency prices are falling. While buying the dip can lead to the generation of compelling returns, in practise, timing it is quite difficult. To pull this strategy off effectively, you must time the market, and this is challenging to say the least. You must keep in mind, that searching for the bottom price of a dip is near impossible.
When the price of a cryptocurrency seems to be falling, perform your due diligence, and invest in the cryptocurrency when the time seems right. You may miss out on the dip in price of your favoured cryptocurrency if you are seeking its exact bottom.
2. Look for Strong Opportunities
The cryptocurrency market being volatile, the price of your favoured cryptocurrencies may rise and fall, from time to time. It is essential that you pinpoint strong opportunities, and invest in projects that have a solid business model,