News247 Worldwide is a popular online newsportal and going source for technical and digital content for its influential audience around the globe. You can reach us via email or phone.
Read this article if you are looking to buy cryptocurrency in 2023.
In 2020 and 2021, investments in cryptocurrencies have skyrocketed. For example Bitcoin went from $7,000 to over $68,000 from January 2020 to November 2021. And in 2022, prices began to decline, after which many investors moved away from riskier assets. This caused a significant upheaval in the market and prices fell even more.
Many investors hope to buy cryptocurrency in 2023 as well. In this regard, it is worth thinking about some important questions.
We recommend that you consider having an emergency fund.
It doesn't matter what kind of job you do, whether you're buying cryptocurrency or investing in stocks, you need to make sure your emergency fund is stocked before you get started. It should last for three to six months or more.
Cryptocurrency prices have fallen in 2022. If you are forced to sell it for 80% less than the price you paid, you will not make any profit. In this case, the emergency fund will save you. By using it you will be able to avoid the forced sale of your investments or incurring additional debts.
Finally, as an important conclusion, always create your emergency fund in case of any business activity.
By Terra TEAM