Bitcoin 53400$ and Market Bleeds
Bitcoin ($BTC ) is now selling at $54,400, which is a drop of almost 8% from its previous high. This shows that the cryptocurrency market has taken a big hit. Another big drop was seen in Ethereum ($ETH ), which fell about 11% to $2,890. It's been even worse for other altcoins. Many of them have lost 30% to 50% of their value.
Even though the market is unstable, experts tell buyers not to freak out. They say that investors should use Dollar Cost Averaging (DCA), in which they make small purchases on a regular basis over time instead of trying to time the market. This method can lessen the effect of price changes and put investors in a good situation to profit when the market eventually recovers.
Analysts are still sure that the coin market will recover, just like it has in the past. Investors can weather the current storm and possibly come out better in the long run if they are patient and keep a long-term view.
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