TradingView.com<\/a>
\nTo Buy The Dip Or Not?<\/p>\nWriting the entire project off as a colossal failure could be quite tempting. However, long-term crypto investors know that the market can suddenly reverse to an uptrend.\u00a0<\/p>\n
With macroeconomic factors like inflation, it is easy to see why the cryptocurrency market is on a downtrend right now. Inflation rates in major countries like the United States have been on the rise amid concerns of a global-scale recession.<\/p>\n
Also, the Ukraine-Russia conflict has impacted the market negatively. With the US-dollar-pegged stablecoin Terra crashing, the general belief is no project is immune to the grip of market forces.<\/p>\n
For now, experts believe that buying the dip would favour long-term investors. However, the price could dip further due to the volatility and risk associated with cryptocurrency.<\/p>\n
So, it depends on the investor\u2019s strategy and plans. But the general advice is: to buy the dip, use only money you can afford to lose. Price forecasts are mere speculations, and historically, cryptocurrencies frequently deviate from these assumptions.<\/p>\n
Featured image from Pixabay and chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
A dip is common in the cryptocurrency market during a bearish downtrend. Most times, it could persist for a prolonged period. The current crypto winter of 2022 has seen the value of many coins drop. Investors are carefully weighing their options and considering if buying the dip is a smart move in the current market.<\/p>\n
Some investors move their assets to perceived safer ground as they brave the storm. In a price chart, a dip is identified as a valley. For Polkadot, expert predictions are varied on when the coin will eventually make the much-anticipated price comeback.<\/p>\n
Polkadot is way off its all-time high of $54.98 as of November 2021 to a modest $5.58, which is an exponential drop for the coin.\u00a0<\/p>\n
DOT is unique since the project focuses on parachains that interlink with each other. These parachains are customized project-specific blockchains intertwined with the relay chain of Polkadot.<\/p>\n
The relay chain \u2013 the Polkadot network, secures and connects these parachains in numbers between 100 -250.\u00a0<\/p>\n
Price Forecast For Polkadot<\/p>\n
The current market trend was also observed with Polkadot since it has been in a bearish reversal for months in 2022.\u00a0<\/p>\n
The price movement for DOT will depend largely on the activity of market forces. With the coin falling below previous support levels of $10.33, investors keep their fingers crossed to see if the bulls will rally.<\/p>\n
The general market sentiment holds that if Polkadot can break the resistance level of $7, then the bulls are rallying.\u00a0<\/p>\n
However, the strong bearish trend will continue if the price drops below the $5.70 support level.<\/p>\n
So far, in the year 2022, the price of the coin has been on a gradual decline. Even the parachains felt the effects as Acala USD (aUSD), for instance, lost its peg to the dollar.\u00a0<\/p>\n
Judging from Bitcoin\u2019s dominance, the dip in bitcoins price and dominance is a signal of a possibly prolonged bearish market generally.\u00a0<\/p>\n
DOT\u2019s price is currently trading below $6 | Source: DOTUSD price chart from TradingView.com<\/a>
\nTo Buy The Dip Or Not?<\/p>\nWriting the entire project off as a colossal failure could be quite tempting. However, long-term crypto investors know that the market can suddenly reverse to an uptrend.\u00a0<\/p>\n
With macroeconomic factors like inflation, it is easy to see why the cryptocurrency market is on a downtrend right now. Inflation rates in major countries like the United States have been on the rise amid concerns of a global-scale recession.<\/p>\n
Also, the Ukraine-Russia conflict has impacted the market negatively. With the US-dollar-pegged stablecoin Terra crashing, the general belief is no project is immune to the grip of market forces.<\/p>\n
For now, experts believe that buying the dip would favour long-term investors. However, the price could dip further due to the volatility and risk associated with cryptocurrency.<\/p>\n
So, it depends on the investor\u2019s strategy and plans. But the general advice is: to buy the dip, use only money you can afford to lose. Price forecasts are mere speculations, and historically, cryptocurrencies frequently deviate from these assumptions.<\/p>\n
Featured image from Pixabay and chart from TradingView.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-10325","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=10325"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10325\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=10325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=10325"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=10325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}