Now Is The Time That Fortunes Are Made (Maybe)

So we are into a really big cryptocurrency slump right now. People who bought near the highs are feeling some pretty negative emotions and people who were hoping for their Lambos are getting disappointed.

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There is a saying in Wall Street that you buy when there is blood on the street and there is some wisdom in that.

Here is a bulleted list of some thoughts about the current situation:

• The market is low right now so it might be a really good buying opportunity.
• The market could go up 10 times or even 100 times from where it currently is in a few years. On the other hand it is equally likely could go down to 10% of where it is and stay there forever. No one really knows.
• Don't invest in crypto what you cannot afford to lose. Consider what you spend on coffee and doughnuts each year, I am talking about that amount of money.
• Dollar cost averaging is your friend. If you buy, do so at regular intervals and in smaller amounts. This tactic also helps ease the pain of the ups and downs.
• The holding period for your investment should be on the time line of a year or probably even longer. These crypto slumps have a way of persisting for long periods of time.

Whatever you decide, think it through carefully, review all of the opinions out there, do your own research and make reasonable decisions.