Yes, now is a good time to buy and hold cryptocurrency. The key is to choose quality cryptocurrencies with legitimate use cases because they have a better chance of long-term success. When in doubt, hold on (or “hold on” as some people say). With everything that's happening and 25% of fluctuations up and down daily, retaining might be the best option.
This is particularly the case if you have only invested a relatively small amount and can overcome short-term fluctuations because you think that in the long term, one or more of the cryptocurrencies are here to stay and will become a fundamental part of the financial ecosystem. Part of learning when to sell or sell with HODL is to realize that having all your Bitcoins isn't always a good idea. Volatility makes it very likely that you will have extreme peaks and falls. Holding one part or selling one part allows you to hedge your bets against both.
Whether you decide to sell your cryptocurrency or see a fall as an opportunity to buy more, you need to act with a cool head. Making emotional decisions, especially when trading, rarely results in anything good happening. So, before you jump into the market in a panic, you'll want to reflect on why you're trading cryptocurrency in the first place. Cryptocurrency markets are notoriously volatile, and the price you pay today for an item may not be worth your purchase tomorrow.
In addition, many companies that are experimenting with cryptocurrency payments only accept Bitcoin, which experts say is one of the worst cryptocurrencies you can choose to pay for something. You can have a daily or monthly program if that also works for you and, through major cryptocurrency brokers, you can easily implement this recurring investment approach for whatever currency they offer. Whenever you invest in a cryptocurrency, make sure that you have thoroughly researched it and believe that it is a solid long-term investment. Despite the fact that most buyers view cryptocurrencies as an investment, many don't use the best investment strategy.
If you have made a decent profit, that is, triple or quadruple your initial investment based on the latest prices, given the recent volatility, many personal finance experts say it may be a good time to sell an amount equal to the original investment up to 50% of your shares. For example, unbanked people can transfer money to other people, even internationally, using their crypto wallets or make cryptocurrency purchases with participating merchants through applications such as BitPay, all without resorting to traditional financial institutions. A smart rule of thumb is to have no more than 5% to 10% of your investment portfolio in the cryptocurrency market. Cryptocurrencies are on the rise, and a study by The Ascent reveals that more than 50 million Americans are likely to buy cryptocurrency next year.