Tesla CEO and a vocal supporter of cryptocurrencies, Elon Musk, has once again said that he will continue to support Dogecoin and is even buying the dip, as per his recent tweets.
In investing parlance, ‘buying the dip, means investing in an asset when its prices are low with the faith that prices will go up once again. Earlier this year, when cryptocurrencies were going through a downward phase, El Salvador stocked up on the Bitcoin, even if it meant its previous buys were at a higher price. The hope, however, is that the asset will improve in the long run, something that we haven’t seen with cryptocurrencies in 2022.
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