What is the best average down strategy for buying cryptocurrencies?

1 answers

• Nivriti JainOct 28, 2020 · 5 years ago
  At BYDFi, we recommend a conservative average down strategy for buying cryptocurrencies. This strategy involves gradually increasing your investment in a particular cryptocurrency as its price decreases. By buying more at lower prices, you can potentially lower your average purchase price and increase your potential returns. However, it's important to note that this strategy carries risks, as the price of cryptocurrencies can be highly volatile. It's crucial to do thorough research, set realistic expectations, and consider your risk tolerance before implementing this strategy. Remember, investing in cryptocurrencies involves inherent risks, and past performance is not indicative of future results.
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