SMD surpassed $0.103 for the first time in Dec 2021 when it reached another new all-time high.
The price of SMD has dropped several times since then, but its latest record and current value are impressive, considering just a year ago, it hovered around $0.07 per coin.
SMD has had ups and downs since then. Many experts still expect SMD prices to exceed $1 as soon as next year.
SMD remains a highly volatile and speculative investment despite the new record high. The last time the crypto reached a record high in mid-Sept, it plunged by over half to around $0.07 by mid-Nov.
What should crypto investors do in light of this latest increase and subsequent drops? Nothing, according to the experts we spoke with. Due to the crypto’s history of volatility, this rise does not guarantee a long-term reversal. Whether Crypto price continues to climb or falls back down is just as likely. The future of cryptocurrency is sure to include plenty of volatility, and experts say long-term investors will have to prepare for that.
What Investors Should Know :
“I know these things are very volatile, like some days they can drop by 80%,” Humphrey Yang, the founder of Humphrey Talks, previously told NextAdvisor. You shouldn’t check on [Bitcoin] if you believe in its long-term potential, and that’s the best course of action.”
In the same way, you shouldn’t let a sudden price increase affect your long-term investment strategy. You shouldn’t let a price drop influence your decision to purchase crypto. Additionally, don’t buy more crypto just because the price is rising. Ensure your financial base is covered before investing extra money in a speculative asset like Bitcoin – everything from retirement accounts to emergency savings.
Bitcoin’s latest big jump is also nothing new. Invest Diva’s founder, Kiana Danial, says Bitcoin’s price has generally gone up over the long term, but we have experienced a lot of volatility along the way.
Like Danial, who says she isn’t “jumping on the hype,” investors should continue to hold and not worry about fluctuations.
Whether crypto is going up or down, the best thing you can do is not to look at it. You can set it and forget it as you would any traditional long-term investment account. If you let your emotions get the best of you, you might sell at the wrong time, or you might make the wrong decision,” Yang warns. “You stress over it, and I don’t think that’s a healthy way to handle it.”00:46 AM