Another crypto crash may be coming as central banks are still going to raise interest rates in the fight against inflation. This was echoed by Bitmex co-founder and former CEO Arthur Hayes who said altcoins will likely plunge more than 50% in the next few weeks.
The majority of crypto assets have already lost more than 50% of their value since the start of the year and the whole market has lost around $2 trillion since its peak in November 2021.
The coming crypto crash should not stop investors from buying the dip and dollar cost average on their crypto investments. Some assets that have previously endured the bear market have what it takes to survive this downturn. BNB Coin (BNB) and Ethereum Classic (ETC) are good examples while FIREPIN (FRPN), still in the presale stage, could be the gem of the next bull run.
Is a Crypto Crash Coming in 2022?
Bitcoin reached an 18-month-low after its price plunged to around $20,407 and Ethereum (ETH) is on the verge of trading lower than $1,000.
Experts have warned that the global macroeconomic conditions are spooking investors to sell off their risk assets. The 2022 crypto winter has been a pain for investors as there are fears of a recession. Analysts are predicting that the crypto winter may last more than 2 years as was the case in 2018.
The 2022 crypto crash has been caused by many factors.
Within the crypto sector, the collapse of Terra Luna was an unfortunate event that put more pressure on a market already bleeding from the effects of the coronavirus pandemic, the instability in Eastern Europe, and interest rate hikes by the U.S. Federal Reserve.
While many people may not have seen the crypto crash coming, they should strategically buy the dip in preparation for the next bull run.
Should I buy the Dip?
Buying the dip has the potential to increase your return on investment, but only if you do it right. The first and most important thing is to go over your portfolio and make sure that you are holding solid projects with good financial models.
This is to ensure that you are holding crypto assets that will survive the bear market. There is no use in buying and holding a cryptocurrency that might collapse at any time. The Terra Luna crash should serve as an example of what can happen to projects that may seem strong during a bull market.
You don’t have to go all-in at once. Buy the dip periodically and don’t use all your money in one purchase. Monitor the market closely and only invest in cryptocurrencies that you are willing to hold for a long time.
There are good projects that are still starting. Study them and only invest if they seem to have a practical use case.
FIREPIN (FRPN)
FIREPIN is a community-powered ecosystem. The FRPN token is the governance and utility token of the decentralized platform.
All holders of the FRPN governance token are automatic members of the FIREPIN DAO. The FIREPIN DAO is an autonomous organization that gives governance control of the ecosystem to the community through proposals and voting.
The FIREPIN ecosystem is broad and includes the metaverse, NFTs, DeFi, rewards and incentives, and blockchain gaming.
Investors can benefit from buying FIREPIN in the presale stage and another bonus is that it is building during the bear market.
BNB Coin and Ethereum Classic
Investors holding BNB and Ethereum Classic (ETC) can buy the dip and continue to do so because these cryptocurrencies have previously survived bear markets. BNB is the native token of the Binance, an exchange founded in 2017.
Binance made progress through the 2018 bear market and is now one of the largest exchanges in the world. Investors can be assured that BNB Coin will still be around on the other side of the bear market.
The most important skill for investors right now is to avoid projects that can lead to outcomes similar to the Terra Luna crash. BNB, ETC, and FRPN are good cryptocurrencies to buy and hold.
Find out more:
Website: https://firepin.io/
Presale: https://presale.firepin.io/register
Telegram: https://t.me/FIREPINOFFICIAL
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
Source: https://cryptodaily.co.uk/2022/06/crypto-crash-coming-continue-to-buy-the-dip-bnb-coin-bnb-ethereum-classic-etc-and-firepin-frpn