Cryptocurrency plunge: Should you ‘buy the dip’ or avoid exposure?

The value of popular cryptocurrencies Bitcoin and Ethereum have fallen sharply after Wednesday's crash. This has left people divided as some investors are rushing to offload their holdings while others are in favour of 'buying the dip'. Read to know if it is a good time to invest in cryptocurrencies.

The cryptocurrency market has been witnessing widespread turbulence since the start of this week and Wednesday’s broad-based plunge that sent all cryptos into a tailspin has made investors nervous. While prices of some popular cryptocurrencies like Bitcoin and Ethereum (Ether) staged a comeback on Thursday after the crash, the overall crypto market remains extremely volatile at the moment. The crash has triggered heavy selling in the cryptocurrency market as investors look to offload their holdings and minimise losses amid the ongoing uncertainty. At the same time, some people have expressed a desire to “buy the dip”, hoping for a rebound in the near future.