{"id":296126,"date":"2021-07-11T02:39:00","date_gmt":"2021-07-10T23:39:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nerdwallet-what-to-do-when-your-digital-assets-take-a-dive\/"},"modified":"2021-07-11T02:39:00","modified_gmt":"2021-07-10T23:39:00","slug":"nerdwallet-what-to-do-when-your-digital-assets-take-a-dive","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nerdwallet-what-to-do-when-your-digital-assets-take-a-dive\/","title":{"rendered":"#NerdWallet: What to do when your digital assets take a dive"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a28d0e2dc79b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a28d0e2dc79b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/nerdwallet-what-to-do-when-your-digital-assets-take-a-dive\/#A_few_things_to_remember_before_you_invest_in_bitcoin_or_other_cryptocurrencies\" >A few things to remember before you invest in bitcoin or other cryptocurrencies<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/nerdwallet-what-to-do-when-your-digital-assets-take-a-dive\/#Remember_that_bitcoin_and_other_cryptos_are_volatile\" >Remember that bitcoin and other cryptos are volatile<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/nerdwallet-what-to-do-when-your-digital-assets-take-a-dive\/#Understand_your_risk_appetite_before_investing\" >Understand your risk appetite before investing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/nerdwallet-what-to-do-when-your-digital-assets-take-a-dive\/#Single_investments_should_flavor_not_dominate_your_portfolio\" >Single investments should flavor, not dominate, your portfolio<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/nerdwallet-what-to-do-when-your-digital-assets-take-a-dive\/#Kevin_Voigt\" >Kevin Voigt<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#NerdWallet: What to do when your digital assets take a dive<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"A_few_things_to_remember_before_you_invest_in_bitcoin_or_other_cryptocurrencies\"><\/span>\n  A few things to remember before you invest in bitcoin or other cryptocurrencies<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000324197\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000324197\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       <em>This <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/crypto-crash?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=anne-stanleymarketwatch-com&amp;utm_content=1023223\" class=\"icon none\"><em>article<\/em><\/a><em> is reprinted by permission from <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/blog\/?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=anne-stanleymarketwatch-com\" class=\"icon none\"><em>NerdWallet<\/em><\/a><em>.\u00a0<\/em><\/p>\n<p> <em>This article provides information for educational purposes. NerdWallet does not offer advisory or brokerage services, nor does it recommend\u00a0specific investments, including stocks, securities or cryptocurrencies.<\/em><\/p>\n<div class=\"paywall\">\n       Cryptocurrencies were all the rage earlier this year, with the prices of several coins surging to record highs and crypto exchange Coinbase making its public offering. Crypto enthusiast and Tesla<br \/>\n        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/composite\" class=\"positive\">+0.63%<\/bg-quote><br \/>\n       CEO Elon Musk tweeted rocket and moon emoji, boosting the rallying cry \u201cto the moon!\u201d And investors big and small jumped into the market.<\/p>\n<p>But after the spot price of bitcoin, the most popular coin, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roached $65,000 in April, the boom turned bust: By early June, its value had dropped by nearly 50%. It\u2019s likely that many of those new crypto investors felt the whiplash.<\/p>\n<p>\u201cIt is very interesting that every time that\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/what-is-bitcoin?utm_campaign=ct_prod&amp;utm_content=1023223&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=anne-stanleymarketwatch-com\" class=\"icon none\">bitcoin<\/a>\u00a0goes up, it gains all the hype, people get excited,\u201d says Kiana Danial, author of \u201cCryptocurrency Investing For Dummies.\u201d\u00a0But Danial adds that the last person who buys when the price is at the top \u201cis the person who\u2019s going to panic when the price inevitably drops.\u201d<\/p>\n<p><strong>Read:<\/strong> <strong>From \u2018Death Cross\u2019 to a Near Bull Market: Bitcoin\u2019s Wild Ride<\/strong><\/p>\n<p>So, what do you do when your digital assets like bitcoin crash? We asked several cryptocurrency experts to get their thoughts.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Remember_that_bitcoin_and_other_cryptos_are_volatile\"><\/span><strong>Remember that bitcoin and other cryptos are volatile<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>For those who have been investing in cryptocurrencies for years, dramatic gains and losses are nothing new. For example, bitcoin recorded a previous record high of nearly $20,000 in December 2017, but by December 2018 was trading below $3,500.<\/p>\n<p>As bitcoin  gains adoption, \u201cthe up moves and down moves can be breathtaking. Taking the long-term view puts these moves in perspective,\u201d says Greg King, founder and CEO of Osprey Funds, an investment firm specializing in digital assets.<\/p>\n<p>\u201cFor example, even though bitcoin was down 50% in April through May of this year, it is up 25% from those lows and still up 100% from Thanksgiving last year.\u201d (Note: These comments were made on June 17, 2021. Who knows where the\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/how-to-invest-in-bitcoin?utm_campaign=ct_prod&amp;utm_content=1023223&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=anne-stanleymarketwatch-com\" class=\"icon none\">bitcoin price<\/a><br \/>\n        BTCUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/31322028\/realtime\" class=\"positive\">+1.06%<\/bg-quote><br \/>\n      \u00a0is by the time you read this.)<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>For seasoned bitcoin investors, the lower prices were welcome. \u201cThen, you would actually see the drop of value in bitcoin as an opportunity to purchase,\u201d Danial says.<\/p>\n<p><strong>See:<\/strong> <strong>Robinhood IPO filing reveals dogecoin as one of its biggest risk factors<\/strong><\/p>\n<h6><span class=\"ez-toc-section\" id=\"Understand_your_risk_appetite_before_investing\"><\/span><strong>Understand your risk appetite before investing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>When crypto is crashing, someone who\u2019s been intrigued from the sideline might think this is the time to get in and \u201cbuy low.\u201d But King recommends asking yourself two questions before deciding to invest in bitcoin or other cryptos.<\/p>\n<p>\u201cConsider whether an 80% to 90% down move in your crypto holdings would cause you to lose sleep at night or sell,\u201d he says. \u201cIf the answer to either of those is yes, don\u2019t invest.\u201d<\/p>\n<p>\u201cAny asset has ups and downs \u2014 cryptocurrency has more ups and downs because of the amount of hype and FOMO involved,\u201d Danial adds, alluding to a fear of missing out, \u201cand the fact that people actually don\u2019t know what it is. They buy it because they heard somebody talk about it \u2026 they are taking unmeasured risks.<\/p>\n<p>\u201cAsk yourself what amount of money you can actually afford to lose, because any investment has inherent risk,\u201d she says. \u201cIf you are selecting your assets wisely and you have concrete reasons why you\u2019re investing in it, you shouldn\u2019t be swayed when the markets drop, and you will stay the course.\u201d<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetDynamic\n            inline\n    scope-web|mobileapps\n  article__inset\n          article__inset--type-InsetDynamic\n            article__inset--inline\n  \"><\/p>\n<div class=\"dynamic-inset-container article__inset__dynamic\">\n              <iframe loading=\"lazy\" allowfullscreen=\"true\" webkitallowfullscreen=\"true\" mozallowfullscreen=\"true\" frameborder=\"0\" scrolling=\"no\" marginheight=\"0\" marginwidth=\"0\" width=\"512\" height=\"288\" src=\"https:\/\/video-api.wsj.com\/api-video\/player\/v3\/iframe.html?guid=042E0DFD-BA44-4767-9F22-901A3311AD6A&amp;shareDomain=https:\/\/www.marketwatch.com\"><\/iframe>\n  <\/div>\n<\/p><\/div>\n<h6><span class=\"ez-toc-section\" id=\"Single_investments_should_flavor_not_dominate_your_portfolio\"><\/span><strong>Single investments should flavor, not dominate, your portfolio<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p> Crypto experts suggest refraining from \u201call in\u201d moves when deciding to invest. \u201cAvoid buying large amounts of cryptocurrency all in one shot,\u201d says Jake Yocom-Piatt, co-founder of Decred, a cryptocurrency with a $1.5 billion market share. \u201cIf you buy a whole bunch at once and the price drops, psychologically that\u2019s very difficult for people.\u201d<\/p>\n<p><strong>Learn more:<\/strong> 10 rules every new crypto trader should obey so you don\u2019t lose your shirt<\/p>\n<p>Instead, he suggests considering a common strategy from investing in stock markets:\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/dollar-cost-averaging-2?utm_campaign=ct_prod&amp;utm_content=1023223&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=anne-stanleymarketwatch-com\" class=\"icon none\">dollar-cost averaging<\/a>. \u201cBuy a small amount every month and then just keep doing it, as the price goes up or the price goes down, as opposed to buying it all in this one single crystalized cost which you\u2019re going to have to deal with psychologically for the foreseeable future.\u201d<\/p>\n<p>Personal finance experts often say that any single asset, be it a specific coin or company\u2019s stock or something else, should only be the sprinkling atop the parfait of an otherwise vanilla portfolio of stocks, bonds and mutual funds that mean to help you achieve your long-term financial goals.<\/p>\n<p>\u201cIf crypto is the only asset you are investing in, you are probably taking on way too much risk,\u201d Danial says.<\/p>\n<p><strong>More From NerdWallet<\/strong><\/p>\n<ul class=\"articleList\">\n<li>\n      <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/rotha-ira-tax-free-growth?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=anne-stanleymarketwatch-com&amp;utm_content=1023223\" class=\"icon none\">A Roth IRA Could Help You Avoid Taxes Like the Ultrawealthy<\/a><\/p>\n<\/li>\n<li>\n      <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/what-inflation-means-for-stocks?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=anne-stanleymarketwatch-com&amp;utm_content=1023223\" class=\"icon none\">Selling Stocks on Inflation Fears? Financial Pros Wouldn\u2019t<\/a><\/p>\n<\/li>\n<li>\n      <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/sustainable-investing?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=anne-stanleymarketwatch-com&amp;utm_content=1023223\" class=\"icon none\">Interested in Sustainable Investing? Look Outside Your 401(k)<\/a><\/p>\n<\/li>\n<\/ul>\n<p><em>Kevin Voigt writes for NerdWallet. Email: kevin@nerdwallet.com.<\/em><\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Kevin Voigt \",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Kevin_Voigt\"><\/span>Kevin Voigt <span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-74F2-6598711A3E52%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#NerdWallet: What to do when your digital assets take a dive&#8221; A few things to remember before you invest in bitcoin or other cryptocurrencies This article is reprinted by permission from NerdWallet.\u00a0 This article provides information for educational purposes. NerdWallet does not offer advisory or brokerage services, nor does it recommend\u00a0specific investments, including stocks, securities&#8230;<\/p>\n","protected":false},"author":1,"featured_media":296127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-296126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/296126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=296126"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/296126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/296127"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=296126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=296126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=296126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}