Is it good to buy crypto right now?

Cryptocurrency markets are volatile, so buying cryptocurrency at any price, let alone a decline that could become a long-term trend, is risky. While prices could return to previous levels, they could also fall even lower, leaving your investment underwater. If you're willing to take the risk, first make sure you understand what you're investing in and that you have a crypto investment strategy. Bitcoin is extremely volatile, so the trick is not to panic and crystallize losses by selling when its value inevitably falls.

The same goes for all investments. Whether you invest in cryptocurrency depends on your goals and preferences as an investor, as is the case with any asset or security. We suggest that clients approach it as a speculative investment and consider the high volatility and risks involved. For those who already have a diversified portfolio and a long-term investment plan, we consider that cryptocurrency ownership is outside the traditional portfolio.

You don't need to declare cryptocurrencies on your tax return if you haven't sold them or exchanged them for another type of crypto. The co-founder of the automated cryptocurrency trading platform Coinrule, Oleg Giberstein, believes that cryptocurrencies are suffering the same tensions as other parts of the economy, leading to falling prices.

Alexander Osario
Alexander Osario

Total twitter fanatic. Devoted tv trailblazer. Extreme pop culture ninja. Lifelong internet buff. Hardcore sushi expert. Hardcore music buff.

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