Crypto Is In Roller Coaster; Is It Still Worth Buying?

Recent cryptocurrency price movements have proven once again that investing in crypto is risky. Still, the potential for earning good profits exists, as many investors will tell you. While people who know how to buy crypto may take the opportunity to buy while the prices are low. Others may wonder whether crypto is still worth buying. Let’s take a look at what has happened to cryptocurrencies in the past few months.

In November when the price of cryptocurrencies reached an all time high, it seemed to many that the sky was the limit. Still, it wasn’t to be. Prices were peaking and about to start the steepest drop since the crash in 2018.

Let’s take the Ethereum price as an example. This popular cryptocurrency had a bumper year in 2021, reaching a high of $4,617 in November 2021. Unfortunately, it was all downhill from there.

It seems crypto traders were spooked by inflationary pressures and weaker share prices. Rising interest rates and a drop of nearly 20% in share prices has meant that investors have less cash to invest. Many have abandoned cryptocurrencies.

By July 13^th, 2022 Ethereum prices were trading at less than a quarter of the November value at $1040. It is still early days but by July 19^th 2022 Ethereum had tracked upward to close at $1571. Now may be the right time to buy. Dip buyers buy assets when they believe that the asset price has reached its lowest level. They hope to make big profits from bargain basement prices.

Cryptocurrency is a good long-term investment according to professional financial advisors, like hedge and pension fund managers. However, it is important to do your research on how to buy crypto and other related topics  before you invest in crypto currencies. Crypto investments have been fraught with problems, including scams causing many investors to lose their hard-earned money. 

Rising inflation makes it ever more important that money is preserved in a long-term investment. Unless you invest carefully, your money will lose value and eventually it will buy a fraction of the goods that you can afford at current prices. Investments in stocks and digital assets like cryptocurrencies appreciate over time so that your money grows to keep up with and exceed inflation.

Before trading in cryptocurrency, you must investigate the security measures taken by your chosen trading platform. Investing in cryptocurrency is a sure way to diversify your investment portfolio. Major cryptocurrencies such as Bitcoin often run counter to share prices so including them as part of your financial strategy could help you counter losses elsewhere.

Newcomers to crypto trading must understand trading dynamics and the interplay between supply and demand in price determination and volatility. Social network trading platforms, like that offered by NAGAX helps new traders to learn the skills that will make them better traders.

Not only does NAGAX encourage content and information sharing, it also allows traders to copy trade. Copy trading is easy and it allows you to learn from the experts. You even get to choose which trader you want to copy.

NAGAX also encourages traders to learn skills through its Trading Academy. You also have access to charts that track crypto pricing trends helping you to make informed decisions.

When it comes to safekeeping and the security of your money, NAGAX has you covered. This social media trading company is the brainchild of NAGA, a large German fintech company that has been trading in the fintech industry since 2015.

You’ll get your own digital wallet when you trade on NAGAX. The wallet is encrypted and the assets are cold-vault stored and  you will  have access to more than 100 tokens and you pay no commission on trades.

Because cryptocurrencies have no intrinsic value, the price depends purely on supply and demand so prices will always move up and down much more quickly than other asset types. It is therefore important to invest with care and to diversify your financial assets.