I was thinking of buying some Solana if the prices keep falling, then riding it to massive profits. Good plan?
Just need to figure out why coin prices are crashing, and where the bottom is. I have 6 grand in cash to invest, but I'd have to put it in the bank to get onto the crypto exchange. There's other ways but they charge too much of a fee for me.
If anyone knows when a coin gets to yhe bottom, or when a coin will get to the bottom, then everyone will have been pretty rich by now, and I don’t think anyone will be losing money, but the issue is not nobody knows that, and anyone that tells you he or she knows that is just deceiving you.
When investing, it’s always recommend to make use of DCA Strategy, you can keep on accumulating your coins gradually, even if the coin keeps on dropping, its at your own advantage, because you will be given the opportunity to buy at a lower price, but if you are waiting for the bottom before buying, you might end up buying when the price has bounced back already.
The prices seems to stabilizing now, they have increased a bit from the low and are now moving sideways. Bitcoin trading about 85K and other altcoins too have got a stable ground just above the lowest low of some months. Still we can't be sure if the price from here would go above, but with a lot of accumulation that has been going on lower price and people not willing to sell at current price, the price ought to move upwards. If you haven't bought or waited for market to stabilize, this is the right time to buy. We might not get another chance to buy btc below 85 and alts at similar prices in the future.