Post
Topic
Board Economics
Re: Are you ready to spend crypto when market is down
by
Jody.Drummer
on 06/01/2023, 02:49:50 UTC
Will not use cryptocurrency to spend during market downturns. In this case keep investing and accumulating as much as possible for the bull market. Although there are many shops that accept Bitcoin as payment, there are still many people who prefer to pay with fiat currency. Use cryptocurrencies as investment holdings instead of daily payments for better returns in the future.
Everyone has their own way of dealing with this, because there are not a few people who do the opposite at this time if it can really please them. But in reality it is clear that there are still many people who like to invest in cryptocurrencies and prefer to use fiat money when shopping. And this is also caused by everyone's different thinking in seeing investment opportunities and also in using fiat money more wisely.
Basically we use cryptocurrencies as a means of investment instead of using them as a means of payment. So surely most people are thinking the same thing about this and trying not to overspend their assets. After all, in a bear market like this it would be better if we hold it until the bull market occurs rather than having to spend it now, instead I myself continue to increase the amount of my assets for me to take in the future.
In my own country I haven't seen anyone close to owning cryptocurrency they use as a means of payment, so the chances of using it for shopping are very slim.