It has been a difficult year for cryptocurrency investors. Bitcoin has plunged from a record high of about $68,000 last year to trade in the $19,800 range on Monday, while the cryptocurrency sector's market capitalisation has again fallen below the $1 trillion mark.
Analysts warn that the cryptocurrency roller coaster ride is far from over, dragged down by this year’s equity bear market, global economic uncertainty, higher interest rates and a sharp rise in the cost of living around the world.
Many novice investors might be ruing the day they jumped on the cryptocurrency bandwagon, believing they could make a fast buck on the likes of Bitcoin, Ethereum or meme coins such as Doge and Shiba Inu on their “shoot to the moon” journey. However, rather than panic selling — and risk losing a substantial chunk of your investment ― investors might want to consider some other strategies. These include holding on for dear life (HODLing) to avoid short-term volatility, or staking digital coins to earn passive income.
Host Felicity Glover is joined by Stefan Rust, founder of blockchain development house Laguna Labs and former chief executive of bitcoin.com, who discusses the benefits of investing in cryptocurrencies for the longer term.
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