Is This The End Of Crypto? Ok, boomer 🙄
Spoiler alert: breathe, research and just prepare yourself.
What’s happening with Crypto? It was supposed to make us rich. But now even your Tía’s like, “Mira, didn’t I tell you?
So, what happened?
According to NextAdvisor, the crypto market crash last month came after the latest inflation report showed continued high prices for consumers. Add to this, the Federal Reserve hiked its interest rate by 75 basis points — the largest increase in nearly three decades!
So, should you still invest in Crypto?
Here are 5 things YOU need to know before investing right NOW:
Prepare for the unpredictable. If you’re looking to buy in now while the market is down, understand that price fluctuations ARE NORMAL. In fact, prices might drop even more. So if sharp market swings make you more scared than your novi@’s driving, you probably shouldn’t invest.
Prioritize your finances. Before you start your crypto journey, you can decrease your risk tolerance by making sure your other finances are in check: like having an emergency fund set-up and paying off high-interest debt.
How much should I invest? According to NextAdvisor, experts recommend no more than 5% of your portfolio. But again, you should only invest with what you are OK with losing. Just like the #1 rule in Vegas – only gamble what you can lose.
Where should I start? Bitcoin and Ethereum are the two cryptocurrencies that represent the best starting point for new investors, according to experts and NextAdvisor’s Investability Score.
The bottom line. Truth is, Cryptocurrency has never been easier to buy and invest in. Pero, crypto is still “cryptic” in many ways. So do all the research you can before you jump in.
Good luck investing!
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