What to Do When Cryptocurrencies Are Crashing?

What to Do When Cryptocurrencies Are Crashing?

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The word that best describes Bitcoin and Cryptocurrency is ‘volatility.’ While rumours, sentiment, and fundamental events are immediately integrated into the market, cryptocurrency prices surge and then appear to plummet almost as quickly. Even the supposedly dependable stablecoin TerraUSD has plummeted as concerns about its solvency arose, and the Treasury Department is noting the risks that cryptocurrencies may pose to the broader economy, pushing for further regulation of them. In November 2021, for example, Bitcoin reached an all-time high of approximately $69,000. However, in less than six months, the cryptocurrency had lost more than half of its value, falling to roughly $30,000. That volatility attracts profit-seeking traders, but it's nerve-racking for rookie investors just getting started. And traders may expect further volatility in the future as new cryptocurrencies emerge and others go away. With crypto being so volatile, how should investors limit their risk?

🕒 Timestamps 🕒
00:00 Introduction
01:21 5 Things to Do When Cryptocurrencies Plummet
01:33 Stay Calm
02:19 Assess the Situation
03:29 Remember That Volatility Is the Name of the Game
04:37 Evaluate the Future
06:23 Determine How to Act
07:40 Alternatives to Cryptocurrency
09:29 Final Thought

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