Here's Why Bitcoin's Next Big Move Could Redefine Your Investment Strategy
After hitting a new all-time high of $73,750 in mid-March, Bitcoin (CRYPTO: BTC) has struggled mightily. The world's most popular cryptocurrency recently dipped below the $54,000 level although it has since recouped some of the losses. As a result, some crypto investors are starting to abandon Bitcoin and look for better investment options elsewhere.
But I think that would be a mistake. Abandoning a long-term investment strategy after just a few months of poor performance could prevent investors from participating in Bitcoin's next big move. Time and time again, a buy-the-dip strategy has worked with Bitcoin, and this is shaping up to be yet another opportunity.
Bitcoin is now trading more than 10% below an all-time high set in March. For traditional equities, that would be awful. But the size of this decline is actually negligible compared to the size of Bitcoin's previous declines.
Source Fool.com
