What to do if the price of bitcoin falls: What should you do if you’re a crypto investor?

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What to do if the price of bitcoin falls: What should you do if you're a crypto investor?
What to do if the price of bitcoin falls: What should you do if you're a crypto investor?

Ethereum and Bitcoin prices are falling, and some experts believe they will continue to fall.

In the last 24 hours, the two major cryptocurrencies have lost up to 10% of their value, with bitcoin hovering around $31,000 and ethereum hovering around $2,300.

However, Wendy O, a crypto-expert, stated in a video that the first cryptocurrency to appear on the scene could fall below $30,000, a level not seen since July of last year.

Rough Days Ahead for Bitcoin

Bitcoin could potentially have a mini bounce to $35,000, but unless we break the trend line at around $37,000, I am considering its value at $29,000 in the coming weeks or weeks,” he said.

At the start of the week, cryptocurrencies were rocked by macroeconomic uncertainty, and bitcoin fell to its lowest point in more than a year.

The cryptocurrency universe, like the stock market, has suffered since last week, when the Federal Reserve announced its largest interest rate hike in more than two decades.

Bitcoin’s steep drop serves as a reminder to investors that cryptoassets carry additional risk and volatility, particularly in times of economic and political uncertainty.

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Many investors who chose to enter the cryptocurrency market last year are still losing money today.
In response, they advise people to save for an emergency, contribute to a retirement account, or pay off a high-interest debt.

However, for those who have already invested their savings in cryptocurrencies such as Bitcoin, it is best to wait until they have stabilized slightly, as selling them now will result in a larger loss.