Is Now The Right Time To Buy Crypto At Lower Price?
As major crypto exchanges paused withdrawals, swaps, and transfers on their platforms, fueling a broader market selloff as traders continued to spare cash amid the growing fears of global inflation: The chaotic combination of interest rate hikes, imminent recession, and military conflict in Europe.
Despite the market turbulences, GIFA Exchange has noticed a steadily sign-up of new users who probably seeking a way out to conceal their hard-earned money. Many of these new sign-ups are believed to escape from other exchanges and altcoins that are now on the edge of collapse.
On Monday 13 June, GIFA Token’s price is trading at $260.8 as of 08:11 A.M. Istanbul time, according to price data extracted from the main exchange platform. Frankly speaking, GIFA Token holders do not need to panic about the negative news in the crypto space because GIFA Token is one of the altcoins that are pegged by physical assets such as gold, and USD.
Few of these altcoins are performing relatively better and look very promising despite market volatility. GIFA Business Group is taking proper action to put GIFA Token in a better position to honor its long-term obligations to all investors.
GIFX: USD is going strong, no need to panic about crypto tanking
GIFX’s overall value increased 1.02% compared with a 60% drop in the broader crypto universe, according to Blockchain explorer. The price of GIFA Token (GIFX) is in a downward correction but has resumed selling pressure.
The cryptocurrency is steadily trying to regain the previous highs at $650 on May 31, but the bulls failed to keep the price above $500, which led to a downward movement. The upward movement is now limited to the $200 — $300 range. In the meantime, GIFX will regain the previous records if the current support holds on and GIFX rises up again, the bulls will try to break the $300 resistance level.
Is now the right time to buy crypto?
From a peak in November 2021, of nearly US$70,000 for one unit, bitcoin’s value has been cut by more than half to about US$30,000 currently. The broader cryptocurrency market has similarly tanked. Well, the answer to that question is now the right time to buy cryptos at a lower price?
For the investor who believes in the fundamentals in 2021, he could think, “bitcoin is so high right now — I missed the boat,” now might be the time to revisit that idea. While this may or may not be a bottom tank for crypto prices, a lot of people sure are seeing buying opportunities.
Whether you like crypto or hate it, its fundamental qualities haven’t changed, and there’s no point in rehashing them. But in terms of price, chances are like all the other times the stock market or oil crashed, this won’t be the last time the cryptocurrency plummet — it will live again.
Crypto markets slumped after Bitcoin dropped to the lowest level since December 2020 and other major tokens like TerraUSD and its sister token Luna also fell sharply. Bitcoin has tumbled 45% this year, while Ether has lost almost two-thirds of its value.
While some are mourning their losses after last week’s spectacular cryptocurrency crash, others will be celebrating the opportunity created by ‘’the market dip’’ to come on board, buying the virtual assets at the lowest prices.
Crypto fans are hoping that the blistering sell-off is just only a temporary window and therefore they should take this opportunity to buy more in the hope of cashing in on an equally spectacular recovery. Critics of cryptocurrencies might be feeling opposite and vindicated, but they could also be quietly wondering if they should buy some digital assets, just in case, the crypto boom reblast later again.
To be sure, this idea of buying the dip involves both going against the grain and a bit of behavioral psychology. To catch the price bottom before the rebound, you have to be buying when everyone else is full of foreboding and woe.
Certainly, parts of the mainstream finance world are looking like that, amid rising interest rates and the pullback on risk assets. But, in crypto, if there are so many people still buying, then the buying-the-dip logic would imply that right now is probably not the time to enter.
Taking a wider look at the GIFX markets, the answer is the same. As I’ve written before in previous posts, the crypto market with hype overtaking fundamentals — It is a good idea to keep in mind the general ideas of identifying buying opportunities and going against the grain, and the market cycles of crypto. But as with any asset, timing the market to precision, buying low, and selling high, is not an easy task for many people.
Perhaps the answer as to whether now is a buying opportunity is to go at it more gingerly, in the way of the old dollar-cost-averaging tactic. That is, if you think bitcoin, gifa token or ether is a good buy at current prices, consider spreading out, over the next year, whatever amount you want to put into it — buying a little bit at regular intervals.
The idea would still be to try to buy low. It’s just that, instead of trying to pin the tail on the donkey at the specific point at which prices might be lowest, you’d be entering at the average price over a period during which crypto would likely hit its bottom — which is far safer. Be smart with your money. Get started today, with the GIFA Exchange. Sign up now!