Many newbies in the cryptocurrency market do suffer significant losses on their first sets of investments. It can be attributed to several reasons, including overconfidence, lack of knowledge, greed, and the lack of proper risk management.
Risk management is an essential factor that sets successful investors apart from others in this volatile market. While there's no way to prevent the loss entirely, you can mitigate the effect of the loss on your portfolio by applying basic risk reduction techniques.
Logarithmic Finance (LOG), ApeCoin (Ape), and Bitcoin (BTC) are promising cryptocurrencies to invest in, especially during this crypto price plunge, due to their sure potential to rise.
However, if there's something you should know about the crypto market, it is the fact that you can't be so sure – no one can guarantee a prediction will be right or wrong. Thus, it would help if you didn't get carried away with the prospect, forgetting possible losses while investing.
Bitcoin (BTC) is widely regarded as the king of cryptocurrency. It is the first cryptocurrency to hit the market and has the largest market capitalization since its launch over a decade ago.
Bitcoin was first introduced in 2008 with the famous Bitcoin white paper by an unknown person or group called Satoshi Nakamoto.
It is the most popular and most valuable cryptocurrency in the market. BTC was created to enhance peer-to-peer transactions, eradicating third-party control or interference in payment transactions. The cryptocurrency was built with the idea of decentralisation, which has formed the basis upon which almost every cryptocurrency in the market thrives.
The bearish market rally has seen Bitcoin drop to a current market price of about $21k, a huge decline from its all-time high of $68,789.63 a year ago. This indicates how volatile the crypto market is and why you must always apply risk management techniques when investing.
ApeCoin (APE) is an ERC-20 token launched on the Ethereum blockchain. It powers the decentralised ApeCoin Ecosystem as a utility and governance token, enhancing its Web 3.0 use case. ApeCoin holders can vote and suggest how the Decentralised Autonomous Organisation (DAO) should be run and how the funds should be utilised. The platform uses Ethereum's proof-of-work (PoW) consensus mechanism to secure its platform and ensure functionality.
At the time of writing, APE is ranked 38th on the CoinMarketcap with over $1 billion in market capitalization. The token reached its all-time high of $39.40 in March this year before declining to the current market price of about $4.
The Logarithmic Finance (LOG) ecosystem will integrate major blockchains into its network, including Avalanche (AVAX), Polygon (MATIC), Solana (SOL), Ethereum (ETH), and others. This would allow fast and efficient cross-chain transactions at a low cost.
The decentralised network will enable digital creators to launch products in its ecosystem while enhancing the ability to raise funds by improving interaction with potential investors.
LOG is the governance and utility token of the platform. It facilitates every transaction on the network and can be used as a governance token for voting rights in the Logarithmic Finance community.
You can currently purchase LOG tokens in presale, which has already experienced an impressive price increase of 464% to date.
There are a few steps you can take to ensure that you mitigate your investment risk:
Remember that there is always more to learn about the crypto industry and investment strategies. Find out more about Logarithmic Finance (LOG) and its presale by following the links below.
Website: https://logarithmic.finance/
