FINAL WARNING: Crypto is about to dip, big-time. Huge opportunity to buy when the time is right.
Since March, I've been warning that a May crypto dip was imminent. In other updates, I gave my timing for the two dips that would occur, providing investors with an opportunity of a lifetime to buy at ultra lows. More details, below...
Pictured, below: Crypto Crew University provides updated technical analysis. Listen carefully as he gives his advice for buying back in (very similar to my own recommendation to dollar cost average).
Please note that the following is not intended to be financial advice! It is merely my own 'prediction' or opinion of the potential price movements in the crypto market, and should be taken as entertainment purposes only. Be sure that you never invest any money that you can't afford to lose, and apply sensible, dollar cost averaging techniques to minimize losses.
First, I want to make it clear that NOW IS NOT THE TIME TO BUY CRYPTO, that is, unless you're planning on shorting them. However, the time to go long will soon be upon us, so squirrel away some extra money to take advantage.
In particular, I've stated before that the May dip will occur first around the third week of the month. Although there will be a small rebound, we'll see yet another dump about 5 weeks out from now. This is where we could see this year's all-time-lows for most coins! So, be ready.
I also want to warn investors that we could see a "fake-out" just prior to the first dump in May, so don't get sucked into the fomo! During this time, don't be surprised to see your favorite crypto channels proclaiming that the lows are in and 'buy, buy, buy!' Don't do it. In the blink of an eye, you could (temporarily) lose a significant chunk of your portfolio's value, and be kicking yourself for not waiting just a little longer to buy in. However, if you're using dollar-cost-averaging techniques, then overall, you will most likely outperform most investors who will get scared off during this dump, and will wait too long to buy back in.
When things do bottom out, I will be looking at add more DOGE, and also more CRO (Cronos, or crypto.com). I'm only going to hold DOGE through August (I may trade out of it in June and then back in again for the August push, I'm not sure).
I'm going long on CRO because I am earning points with their card, and also I'm earning staking rewards. However, they have recently downgraded their staking rewards, quite significantly, and the price of the coin has slumped as a result. Fortunately, they've since reversed their decision to change staking rewards.
However, I had originally estimated that the price of CRO would to go over $30 in 2023, but with the threat that CRO could reverse course on staking and stick to it, I think $10 in 2023 is more realistic. Still, if the price does plunge in the upcoming market dump, then this could be a 50-100X investment (no guarantees, of course!), especially if you're willing to hold for a long period of time, and take advantage of their staking program, along with their pre-paid card which provides 'cash back' on purchases in the form of CRO coins.
When the prices are near bottom, I will be looking at a list of other top alt coins that will see the biggest bounce back, so stay tuned. If you have any of your own coins that you'd like some feedback on, or if you have your own predictions, feel free to share them in the comments section below.