Remaining positive during any crypto winter can be challenging. We have put together three tips to help you navigate the steep market decline. We have chosen three coins, Binance (BNB), Bitcoin (BTC), and Big Eyes Coin (BIG), as they are likely to be able to survive the recent crypto crash and make it out the other side.
Key Takeaways:
- Focus on cryptos with big market caps
- Diversify your portfolio and exchanges
- Invest with a long-term mindset
Before the FTX exchange collapsed in early November, the crypto market was booming, and new resistance levels popped up across the board. Sadly, the boom would soon be replaced by the gloom and despair that the crash of the FTX ushered in.
Nevertheless, despite the overall downward trend in the market, hope remains for crypto, especially crypto and crypto exchanges, that can reassure investors through regulation and transparency that they are not about to collapse like FTX.
Imploding crypto exchanges have effectively suffused the crypto market with an extra dose of anxiety and caution. The crash is an expensive and educational moment for investors who were previously investing to make a quick and easy buck. However, some investors will have prepared for this – and you can be too!
Focus on cryptos with large market capitalisations like Bitcoin
By focusing on cryptos with large capitalisations, like Bitcoin, you can expect returns in the long run. Also, you are not likely to experience large losses due to the size of the market capitalisation of Bitcoin and its track record of retaining its value.
Bitcoin has a huge market capitalisation of $316.85 billion, making up a large percentage of the total. This large market cap attracts a lot of investors as Bitcoin is a relatively stable investment compared to cryptocurrencies with small market caps.
Bitcoin and Ethereum (ETH) are the top two cryptos worth investing in because of their market capitalisation and proven track record of holding their value. This is why Bitcoin is a popular investment option and is considered useful to hedge against inflation in some instances- more so than fiat currencies in some countries. Of course, there are still risks involved with investing in Bitcoin, but you can mitigate these risks if you choose a long-term investment mindset.
Bitcoin has suffered since the collapse of FTX, but its margin of safety has been able to preserve its value which at the time of writing is $16,758.11. But Bitcoin (BTC) now shows signs of recovery, as Bitcoin crashes never last long.
The strength of Bitcoin and Ethereum lies within their market capitalisation and track record of retaining their value. This is why focusing on these coins is useful regardless of whether the market is up or down.
Diversify your crypto portfolio with Big Eyes Coin and Binance
Bitcoin is an excellent example of a cryptocurrency which offers the least amount of risk, which makes it an ideal investment option. However, the golden rule of investing stipulates that you should not put all your crypto eggs in one basket.
Diversifying your portfolio is the best way to ensure that your investment relies on one crypto or stock. By diversifying your portfolio, you maximise your chances of making gains and minimising risks.
Big Eyes Coin (BIG) and Binance (BNB) are great coins to diversify your portfolio with this crypto winter. Let’s examine why these coins are good options for long-term investors hoping to survive the crypto winter.
The Big Eyes Coin offer investors the opportunity to make guaranteed long-term gains for two reasons. First, this coin is currently in its presale stages, which means it’s at its lowest price. This means that you can pretty much guarantee that if you buy BIG tokens now, your investment will make gains when Big Eyes launches.
Secondly, like Bitcoin, Big Eyes Coin is a limited-supply token which means that it will appreciate in value over time like gold. Although this meme coin is in its infancy, its performance in its presale indicates that it will grow big in the next year; its already raised $10 million.
Binance (BNB) is the biggest crypto exchange in the world based on daily trading volume, making it a trendy investment as it has such global utility. BNB is the native crypto of the Binance exchange and is used to make transactions.
Recently Binance has had to cope with the fallout from the FTX collapse. Still, it appears that its “business as usual” for this exchange and its overall trading volume has not been affected. However, they have seen a slight increase in withdrawals.
The implosion of FTX has pushed Binance and other exchanges to speed up their process of becoming regulated and transparent. Committed to a future of regulation and transparency, Binance has kickstarted a market-wide effort to align itself with new expectations by outlining the “Six Commitments for Healthy Centralised Exchanges”.
Binance is a good investment option to diversify your portfolio because of its global utility and adaptability.
Focus on building a long-term mindset and investments.
Finally, the best bit of advice for anyone investing in cryptocurrencies or any stocks for that matter comes from the legend Warren Buffett’s 1996 letter to shareholders;
“If you aren’t willing to own a
stock for ten years, don’t even think about owning it for ten minutes.
Put together a portfolio of companies whose aggregate earnings march
upward over the years, and so also will the portfolio’s market value.”
When you buy BIG tokens, use this PROMO CODE to get more for your money: BIGPRIZE43
For more information on Big Eyes Coin (BIG) and its community, please visit the following links:
Big Eyes on Youtube: https://www.youtube.com/watch?v=-KWJhYnzvNs
The Big Eyes Coin Presale: https://buy.bigeyes.space/
The Big Eyes Website: https://bigeyes.space/
The Big Eyes Telegram: https://t.me/BIGEYESOFFICIAL
