The crypto market hasn’t been doing well and has reflected on the price of the coins, which hasn’t been what investors were looking forward to. This series of uncertain events, surrounding the crypto market, forced many investors to convert their cryptocurrencies into fiat.
Although the crypto market has seen many pullbacks over the years, this year’s has eclipsed all of them, leaving investors in a dilemma since the early stages of the year.
Pullbacks in the crypto market do come with its disadvantages, including the fall of the total market capitalization which is as a result of many investors converting their cryptos into fiat after they deem the market not to be favorable at that time.
The market capitalization rises and falls depending on the number of investors that hold their cryptocurrencies or converts them.
Despite the negative side, there are some positives, which also comes with pullbacks in the crypto market. A pullback in the market presents the best time for green investors to hop into the market and for the existing investors, it is the perfect time to buy more cryptos. In the crypto business, it is advisable not to sell assets, when the markets take a deep fall.
A comprehensive knowledge and a total understanding of the crypto market will help an investor see what’s in the future for his investment rather than resorting to gambling with digital assets whenever things go a little sour.
If there’s anything to slumps in the crypto market, it is that this time proves to be healthy for the market. As the market starts to gain momentum from its recession, would be the time to throw more money into it.
Many predictors had faith and predicted that bitcoin and the crypto market would rise, at the time when the market was declining. Crypto analyst Tom Lee, for instance, predicted that bitcoin would shoot up even though it wasn’t doing quite well at that time and of course it did rise to almost $20,000 last year.
Many crypto analysts and experts have followed in the footsteps of Tom Lee, with some stating that Bitcoin, regardless of its recent falls will be trading around $100,000, $200,000 and even $400,000 before the end of this year.
Predictions could come true and if that be the case, who wouldn’t want to throw a few more bucks into the crypto market to achieve such huge profits. Although it involves a little risk, the crypto market is all about risks and the ability to hold on when things aren’t great.