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As the Altcoin market dips, I have been looking for deals in the sector.
I settled on SHIB, XRP and DOGE and am building my positions. The digital assets have dipped the past two days, and each asset has suffered double-digit retracements.
Bitcoin touched $100,000 and institutional investors have added Bitcoin ETFs and products that have pumped the price. As of today, Bitcoin has retraced to $95,000 and the chart looks ugly.
Altcoins are extremely volatile and meme coins offer investors and speculators a chance to profit when Altcoin season arises. I intend to ride this out and will continue adding to my positions daily.
Only invest what you can arand to lose, as cryptocurrencies are extremely volatile and largely untested in bear markets. Bitcoin and cryptocurrency investments are increasingly correlated with moves in the NASDAQ and as more Wallstreet investors are entering the space this action could become more pronounced.