Post
Topic
Board Economics
Re: Opportunities During Economic Downturns?
by
pinggoki
on 07/02/2024, 07:05:27 UTC
As a general rule, economic downturns are fabulous opportunities to buy on the cheap. I know people who struck gold in the 2007 crisis by buying Real Estate at bargain prices. If stocks and shares are your thing, you can take advantage to buy cheap when there is a downturn. Or buy Bitcoin, the recent inflation crisis coincided with a drop in price to $17K. When there is panic in the streets and everyone is selling it is an opportunity to buy.
The only problem with this is that you've got to have a lot of money before the economic downturn happens because you're also affected by this too which means that we all should start saving now and make sure that each and every financial decisions that we take is strict and absolute that a deviation would lead to series of problems. Another thing that is an ick to me is that when everyone's already saying that we're in an economic downturn, people aren't still buying bitcoin despite knowing that the dump in price won't last and they fear that this isn't going to be the last dump in prices and then regret not buying so low again.