Bitcoin Drops Below $36,000, Should You Buy? – The Motley Fool

Crypto’s market cap — the value of the whole crypto market — fell about 7%, according to CoinMarketCap.

Investors also took heart from Federal Reserve Chair Jerome Powell’s cautious confidence that inflation could be brought under control without triggering a recession.

Prices of equities and crypto fell dramatically today as the market digested the interest rate hike and the implications of a hawkish Fed.

Instead, try to think about how Bitcoin might perform in the long term and how it fits with the rest of your investments.

There are fears of a recession, inflation is higher than it’s been in 40 years, and the ongoing Russia-Ukraine conflict only adds to global uncertainty.

It’s more than six months since Bitcoin hit an all-time high, and in recent months it has struggled to gain any momentum.

Don’t prioritize crypto over other financial goals such as paying down debt — your long-term financial well-being is more important than crypto investing.

The best way to avoid crypto buyers remorse is to take time to understand what Bitcoin is, how blockchain technology works, and what might help or hinder its development.

But it is your hard-earned money, so you need to be sure you’re OK with losing anything you invest.

True, buying Bitcoin at $36,000 will seem like a bargain if it eventually goes to $100,000 or even $1 million as some analysts predict.

But as the Federal Reserve introduces more economic tightening measures and fears of a recession grow, harder times could be ahead of us.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.

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