At present, if we look at the market, we see a slight downward trend in the price of Bitcoin. Bitcoin price has been on a downward trend since hitting record highs a few days ago. Moreover, the price of Bitcoin has fallen by about 6 percent since its peak a few days ago, although suddenly the price of Bitcoin increased and then decreased slightly. We also know that digital currencies are notorious for volatility. Spot Bitcoin ETF approvals earlier this year as well as Bitcoin halving events by the 20th of next month have had a significant impact on Bitcoin prices.

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Last year, the price of others Altcoins including Bitcoin was very low, but since the beginning of this year, the price of Bitcoin has started to increase. Also, the price of unique coins has increased several times. And investing right now can be very risky unless strategy is adopted. So before investing in these markets, some strategies should be adopted well otherwise the invested money may be lost. Let's discuss what strategies should be adopted in investing right now:

Coin Selection:

The first thing we should do is to select good quality coins. Because we see many coins in the market most of which can be called scams. As there are many meme coins investing in them can be dangerous. So it is very important to choose a good quality coin first and also read its white paper well and also know the details about the person or company involved with this coin. And how likely it is to survive in the market should also be analyzed.

Determining the amount of investment:

We must decide what amount we will invest. Because we must decide exactly how much money we will invest and how much money we will invest in which coins. One thing of course we have to remember is never to invest with our entire money in hand. We should definitely keep some free stablecoins on hand so that we can reinvest in the market when the price of Bitcoin falls.

Dollar Cost Average (DCA):

Dollar cost averaging is very important. Through which in the current market you can lower your purchase rate even after investing if you follow the dollar cost averaging policy correctly. So of course you can buy a coin in 3 steps or more. Of course you should buy with a small amount at first and gradually increase the amount when the price goes down, then dollar cost averaging will give you a pretty good profit from the same point.

Understanding Market Sentiment:

Understanding market sentiment is very important as it helps you to avoid big losses. When you invest in a market without understanding the market sentiment, you will never be able to profit from that market. That's why you must have good knowledge about digital currency and keep a good eye on different media like twitter facebook or telegram medium and also must stay away from greed.

Waiting for Bitcoin Correction:

Since the Bitcoin halving is likely to be completed next month, the price of Bitcoin fluctuates a lot in the months before and after the month in which Bitcoin completes. Moreover, if we look at the past Bitcoin Halves, we can see that Bitcoin has undergone a major correction during each Bitcoin Halve. For example, when the Bitcoin halving was completed in 2016, the price corrected by about 33 percent, and in 2020, the price of Bitcoin was down by about 50 percent. Hopefully this year will be no exception and we will see a major correction in Bitcoin very soon. So we should wait for this moment and keep USD free in hand. So that we can invest in the market again at the moment of this correction.

Conclusion:

However we must invest in the market with strategy or else we will lose our hard earned money. That is why we must invest in multiple steps as well as use stop loss. May we be saved from great loss. However, long-term investing can be more profitable than scalping at the moment as the market bull market begins in the aftermath of the Bitcoin halving. When the bull market starts we will see an alt season. And that is why we must wait for this moment.