Bitcoin continued its downward slide over the weekend, slipping below $35,000 for the third time this year.
This isn’t so surprising given Bitcoin registered a 10% drop last week — its largest intraday fall since January.
After six months of downward price action, many investors want to know whether the end is in sight.
However, economic tightening measures around the world continue to put pressure on high-risk assets like cryptocurrency in the near term.
As a result, we’re not in the same climate that pushed crypto prices to extraordinary levels last year and investors should be prepared for further losses.
In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before.
Cryptocurrencies are relatively new and untested assets, making it difficult to predict how much lower Bitcoin may fall.
There are no guarantees about what will happen to crypto, and you need to do your own research before spending your hard-earned cash.
Some well-known investment gurus believe the price will eventually fall to $0, while others predict it could eventually reach $1 million or more.
However, if you do this, you will lock in any losses and won’t be in a position to benefit if the price rises again.
If you avoid panic selling your investments and hold on through these difficult times, you’re more likely to profit if Bitcoin does eventually reach the highs that some predict it will.
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