Source : - here
This hasn't been a surprise as from last two months we are seeing once in a while our crypto market is falling. Once in a while whole the market turns red.
Well this was supposed to happen as out Crypto Market was really over bought. The sudden rise in whole market is not normal.
When in lockdown people were looking to earn some money they all invested in crypto's to earn quick.
You can see almost every coin from last two years had grown tremendously, Because people want to earn money when they lost their jobs during pandemic.
Our market runs like a heard of sheep, not many people in this market are financially educated most of them follow what others says, If one panic sells everyone sells.
You can see coins like
- Bitcoin - down by 20%
- ETH -25%
- BNB -28%
- ADA -17%
- SOL -30%
All coins in deep red and this has been for couple of days daily 15%-20% fall.
What should we do then.
Panic Sell ?
Of course not if you had invested in good fundamental coins and you believe their project is good for future, you don;t have to worry about any thing, just forget about market and relax no need to check again and again.
Though I can't guarantee if you had invested in coin like shiba inu, doge and other newly came meme coins.
In fact if you got some money extra you can consider to buy and average it. Think as buying coins at discount.
Which coins should we invest ?
This is not a financial advice for your investment this article is only for educational purposes. Always do your own research while doing investment
Well if you are lazy and don't want to do research or you don't have enough knowledge and time for this you can simply consider buying the top 5-6 coins except the stable coins. They are on the top as they have good project and most people are using them.
Hence you can consider buying those which also has low risks.
But if you have little more risk appetite,
According to me you can consider buying or keep a track on the coins like.
- Of course First will be ETH, we know it is the strongest player and after launching ETH 2.0 it will perform very good
- I would consider buying SOL, this coin had tremendous growth last year and many people are doing much more projects on Solana Blockhain and it is the fastest growing coin.
cons - It is not fully decentralised though
- I believe BAT will perform good in future as it is backed by very good developers.
Some other good tokens to consider : Fantom, Cardano, AVAX