Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto
Bitcoin (CRYPTO: BTC) is the giant in the world of cryptocurrency. It's the first player and the biggest. You can use it to make payments at more than 15,000 businesses worldwide. In fact, two countries -- El Salvador and Central African Republic -- even recognize it as legal tender. Investors flocked to Bitcoin last year as the entire cryptocurrency market soared past $3 trillion in market value.
This year's economic woes, however, have pushed investors into the safest of assets. And this means cryptocurrencies have suffered. You may be thinking of buying Bitcoin on the dip right now, but before you do, check out these three things the smartest investors know about crypto.
Higher inflation and other economic problems have hurt people's wallets and companies' earnings. The current context has also weighed on demand for cryptocurrency.
Source Fool.com
