Business Desk – Bitcoin Crash Latest Update: Once again big fluctuations have been seen in the crypto market. Bitcoin, the world’s largest cryptocurrency, has now slipped below the psychological level of $60,000 after losing almost half its value from its all-time high of around $126,000 last year.
This is the first time in almost two years that Bitcoin has reached this low level. The boom that was seen in the crypto market after Donald Trump became President again, now seems to be gradually weakening. This decline has raised a big question before investors whether they should now buy, hold or exit.
According to experts, this fall in Bitcoin is mainly the result of cash shortage and profit booking by big investors.
According to WazirX founder Nischal Shetty, big institutional investors are now taking profits from crypto and investing in sectors like AI, defence, energy and infrastructure.
Apart from this, changes in gold prices and interest rate policies of the US Federal Reserve have also put pressure on the crypto market, due to which the selling has intensified.
Experts believe that the coming few days will be very important for the crypto market. Investors will keep an eye on whether Bitcoin is able to stabilize itself at the level of $60,000 to $62,000 or not.
If this level is maintained then confidence can return in the market. According to Sumit Gupta, co-founder of CoinDCX, the next phase of the crypto market will depend on how clear the governments make rules for it and how much big companies invest in it.
Experts say that such decline is a normal part of the market. At such a time, withdrawing investments out of panic is not considered the right strategy.
According to Mudrex and other experts, investing gradually through SIP (Systematic Investment Plan) can be a better option, due to which the average price of purchase remains balanced. New investors are being advised to invest only 2% to 5% of their total portfolio in crypto and consider Bitcoin as their primary investment option.
