The cryptocurrency market is crashing.
But wait – before you pull out your phone to start selling absolutely everything to minimise losses, read this article: we’ll help you understand what’s happening, what caused this sudden turn of events after a promising October for digital currencies, and we’ll give you some controversial advice.
Contrary to what your instincts may tell you, as well as many bogus ‘experts’ and advisors, now might be the time to buy, rather than sell. ‘Buy the dip,’ goes the maxim, but this pithy slogan is lacking depth. What should you buy? What should you hold? What should you get rid of as fast as your exchange app will process the transaction?
In the following article, we’ll look at three cryptocurrencies – Big Eyes Coin (BIG), Floki Inu (FLOKI), and BabyDoge (BabyDoge). Of these, we’ll give you our advice as to what you should do with these coins right now.
Read on to find out what moves smart investors are making right now, and how you can join them in making money out of a bad situation. Throughout, pay attention to the words of renowned investor Warren Buffett, whose quotes apply to the information we’ll provide.
“Rule No. 1 is never lose money. Rule No. 2 is never forget Rule No. 1.”
What caused the crash?
While markets can be desperately fickle things, this recent crash has concrete cause and effect behind it.
The popular crypto exchange network FTX has been in deep financial trouble in recent times. FTX’s fiercest competition, the gigantic Binance (BNB) network, was poised to buy out FTX entirely, which would save its business from total ruin.
However, as a result of contractual negotiations breaking down, it was announced late on Wednesday, 9 November that Binance would not be acquiring FTX. Binance said via its Twitter account: ‘As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com.’
It would appear that Binance’s fears of malpractice were not unfounded. The Wall Street Journal reported that the U.S. Securities and Exchange Commission (SEC) will launch a probe into the operations of FTX, suspecting securities law violations by the platform.
This unveiling series of events has led to great doubt in the wider marketplace, which has negatively affected most cryptocurrencies – effectively causing the Crypto Collapse.
“Risk comes from not knowing what you are doing.”
Sell like Hell: BabyDoge
Our first piece of advice is to get rid of any BabyDoge (BabyDoge) holdings you may have. This highly derivative meme coin follows in the footsteps of Dogecoin (DOGE) and has an ambitious whitepaper and roadmap.
On the future agenda for this platform and its development are NFT integration, GameFi applications, charitable efforts, and more besides.
However, this token is highly reliant on the Binance Smart Chain (BNB). Simply put, tokens that exist primarily on this exchange network are dubious at the moment thanks to the drama that Binance (BNB) finds itself wound up in.
No matter how attractive the promises of the team may look, we’d recommend shedding this coin from your portfolio at the best price you can.
“Never invest in a business you cannot understand.”
Warren Buffett
Hold like Gold: Floki Inu
Next up is the aspiring meme coin Floki Inu (FLOKI). This token has held its value admirably despite the crash happening around its ears. While it’s not yet been able to catch up to the supreme value held by the senior meme coin Dogecoin (DOGE), Floki Inu (FLOKI) has an impressive array of features that are either being delivered or under construction.
Crucially, it was mere days ago that a major partnership between Floki Inu (FLOKI) and Polygon (MATIC) was announced. This partnership proves that the team behind Floki Inu (FLOKI) are networking and working proactively to keep their project evolving, making new business partners in the process.
While the future is uncertain for FLOKI, we’d recommend holding onto this one for now. Good things may be in store.
“The best chance to deploy capital is when things are going down.”
Buy before it’s High: Big Eyes Coin
The new meme coin Big Eyes Coin (BIG) is a great investment right now. Packed with user-friendly features that will appeal to both novices and crypto enthusiasts alike, it’s a perfect time to pick up some of this token before it launches.
Big Eyes Coin (BIG) is currently in its presale phase. This means it’s been largely unaffected by the Collapse, and it’s well-known that investing in a coin’s presale is one of the surest ways to turn a profit, no matter how grim the rest of the market is looking.
Having raised nearly $10M already, there’s no doubt that there is sufficient interest in this coin to carry it forward. We suggest you join this crew of intrepid investors before it’s too late.
“Don’t pass up something that’s attractive today because you think you will find something better tomorrow.”
If you’d like to know more about Big Eyes Coin (BIG), check out the following links, where you can join the coin’s presale. You can also find out more by watching this short video.
Big Eyes Coin (BIG)
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
Twitter: https://twitter.com/BigEyesCoin
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Source: https://www.thecoinrepublic.com/2022/11/14/the-crypto-collapse-heres-how-warren-buffetts-advice-and-big-eyes-coin-can-keep-you-in-the-green/