What Should Bitcoin Investors Do With The Recent Price Crash? Strategist Says There Really Is Just One Good Option

Following the recent crash in the price of Bitcoin (BTC), a cryptocurrency expert believes that investors have only one good option — that of staying long in the apex cryptocurrency.

What Happened: “From here on out, you are going to have to be a bit more discerning, kind of find projects that are adding value where the tokenomics make sense. But in general, on Bitcoin — I think if you are a believer for the medium-term, you kind of just have to just average in,” Jeffrey Wang, the head of Americas at the Amber Group, said on Yahoo Finance Live. Amber Group is a cryptocurrency-specific financial firm.

See Also: How to Buy Bitcoin (BTC)

Wang noted that the volatility seen in the cryptocurrency markets are subdued for now and things are “relatively calm.” However, he advised investors to hold Bitcoin for the medium term and believes that the future is still “pretty strong” for the crypto industry as a whole.

Why It Matters: Bitcoin’s price drop, more than 35%, in May is the cryptocurrency’s second-worst monthly drop in its entire history, amid regulatory concerns emanating from China and Tesla Inc. TSLA CEO Elon Musk fueling environmental concerns with the mining of cryptocurrencies.

The world’s largest cryptocurrency by market capitalization is also down 43.3% from its all-time high of $64,863.10 reached on April 14.

Price Action: Bitcoin is down 0.6% during the last 24 hours and is trading at $36,715.20 at press time.

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