By Dr. Anna Becker
As of late-April, over the past year the value of Bitcoin (CRYPTO: BTC) has dropped more than 20% against the dollar, but there have also been times in its history when it gained nearly that much in a single day. Ethereum (CRYPTO: ETH) has been down less on the year; but it, too, can have wild swings, making up months of losses in a day or two–or losing months of gains in just a couple of days.
In such a market it is no surprise that many have taken the approach of Hold on for Dear Life–or HODL. The volatility combined with the uncertainty about what the whole crypto and blockchain world will look like in the future makes the idea of closing one’s eyes and hoping for overall growth in the long-term tempting. But that is not the right strategy; if you are going to do that, just buy ETFs and mutual funds–why take the risk of crypto?
Others are simply not getting involved; they are waiting for regulation, hoping that will calm the markets by increasing capitalization and turnover. There may be credence to that, too. But it’s not the right approach because we could be waiting for a very long time.
There is a better way to go about this, one that will allow consumers to reap the high rewards …
Full story available on Benzinga.com