Crypto world is highly volatile due to its decentralized nature. Various internal and external factors cause market downturn. A few of these factors are given below:
- Manipulations by whales to cause sudden surge and downturn in the price of coins
- Political events such as uncertainty about the outcome of US elections
- Disinvestment by institutional investors
- security breaches
- regulatory changes
*Strategies for Capitalizing on the downturn*
- follow simple rule: book profits when the market is acting bullish and buy the dip when the market is experiencing a meltdown. Invest and Take profits in phases to avoid massive losses and maximize gains
- Keep an eye on coins with huge potential so that you exactly know what coins to buy during the dip.
*Tips for Staying Strong and Resilient During Market fluctuations*
- Don't keep your face glued to screens when market is bleeding, it will only increase your anxiety and probability of making bad decisions
- Don't panic sell just because the market is red; wait and watch out for the opportunity
#dyor