Cryptocurrencies, like Bitcoin, surge post-Trump election, but experts warn of high volatility and risks.

From Nasdaq
November 28, 2024 10:00 AM:

The value of cryptocurrencies like Bitcoin has surged to over $99,000 since Trump’s presidency. However, experts caution against heavy crypto investments due to potential risks. Despite predictions of continued growth under a Trump administration, negative events could easily cause a collapse in crypto value. Investing in crypto is highly volatile and risky, with no real assets backing it up.

To invest in crypto safely, use reputable custodians or hardware wallets and ensure password recovery options. Stick to major, established cryptocurrencies and only invest what you can afford to lose. Be cautious of get-rich-quick schemes and always research before investing. Cryptocurrency is largely unregulated, providing little protection for investors. Crypto is surging after Trump’s election, but experts advise caution. Financial advisor Lawrence suggests keeping crypto investments at 5% or less due to lack of assets. She also recommends buying in recurring chunks to avoid market timing. Dollar cost averaging is key for crypto investments. Stick to a conservative approach.

Read more at Nasdaq: Crypto Is Soaring After Trump’s Election: 6 Reasons You Still Shouldn’t Go All In