Bitcoin Is Down From Its Latest All-Time High Over $68,000. Here’s What Investors Should Do Now

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Bitcoin, the world’s first and most popular cryptocurrency, hit a new all-time high of over $68,000 on November 10.

Bitcoin’s previous record came in October, when it reached nearly $67,000. Before these recent highs, Bitcoin has seen many ups and downs since its last high in November, including dropping below $30,000 in July.

Despite new high and ongoing volatility, experts still expect Bitcoin’s price to rise above $100,000 as early as this year.

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What Should Bitcoin Investors Do?

A new record certainly doesn’t mean Bitcoin’s volatility is over — expect even more, experts say.

“It’s an emerging industry, and as a result, it’s very volatile,” says Theresa Morrisona GVB with the Beckett Collective† So keep your investment low enough so that the “crypto tail doesn’t wag your investment dog,” Morrison says. In other words, don’t invest so much that crypto’s extreme volatility can hurt your overall portfolio.

As a rule of thumb, experts recommend keeping speculative investments – cryptocurrency, specialty ETFs, alternative assets – to less than 5% of your total portfolio. It is also important to never invest in cryptocurrency at the cost of failing to achieve other financial goals, such as saving for retirement or paying off high-yield debt.

But if you’ve done all these things and are wondering what to do after Bitcoin’s latest new all-time high: do nothing. The future of cryptocurrency is likely to contain a lot more volatility, so long-term investors should hold onto their coins and don’t let the hype of these daily fluctuations influence your investment decisions.

“If you believe in the long-term potential of [Bitcoin], just don’t check. That’s the best thing you can do,” Humphrey Yang, the personal finance expert behind Humphrey Talks, previously told NextAdvisor.

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