Is now a good time to invest in cryptocurrencies?
The price of Bitcoin fell to $6720 and pulled Altcoins: the capitalization of the digital money market again fell below $200 billion. Will the fall continue or is the current moment the best time to invest?
On Monday, April 13, the Bitcoin exchange rate again fell below the $7000 level. Over the past two weeks the cryptocurrency has tried to gain a foothold above this zone several times, but without success. At the moment, the asset is worth $6720, over the past day it has fallen by 2%. All the top 25 Altcoins by capitalization were affected, except Binance Coin and Chainlink. They rose by 5% and 3%, respectively.
The decline in the crypto market has been going on for three days, but it is still unclear whether it is due to fundamental factors or a small correction after the local highs in the middle of the week.
Another likely reason for the slowdown is the settlement of the situation in the oil market and, as a result, the growth of stock indexes. Many people started to convert their capital back into shares.
However, the overall trend remains positive, and the decline will not last long, as the devaluation of the dollar contributes to the growth of interest in cryptocurrencies.
In the near future the cost of crypto assets may decrease by another 5-10%, this decrease can be considered as an opportunity to buy cryptocurrency since there are no problems in the market or fundamental reasons for another collapse yet.
Tips and risks
You can pay attention to coins from the top 10 capitalization such as Ethereum, XRP, Litecoin, EOS and Binance Coin.
The current moment may be the most successful for investing in cryptocurrencies. It is possible that the market will fall even lower in the coming days, but the situation may stabilize. It is impossible to wait for the bottom of the market. When all investors feel confident, the moment will have already been lost. It is necessary to invest when there is still uncertainty in the market.
No one can guarantee that their value will rise or fall. However, at the moment, you can buy many popular cryptocurrencies at a good price.
The price of Bitcoin fell to $6720 and pulled Altcoins: the capitalization of the digital money market again fell below $200 billion. Will the fall continue or is the current moment the best time to invest?
On Monday, April 13, the Bitcoin exchange rate again fell below the $7000 level. Over the past two weeks the cryptocurrency has tried to gain a foothold above this zone several times, but without success. At the moment, the asset is worth $6720, over the past day it has fallen by 2%. All the top 25 Altcoins by capitalization were affected, except Binance Coin and Chainlink. They rose by 5% and 3%, respectively.
The decline in the crypto market has been going on for three days, but it is still unclear whether it is due to fundamental factors or a small correction after the local highs in the middle of the week.
Another likely reason for the slowdown is the settlement of the situation in the oil market and, as a result, the growth of stock indexes. Many people started to convert their capital back into shares.
However, the overall trend remains positive, and the decline will not last long, as the devaluation of the dollar contributes to the growth of interest in cryptocurrencies.
In the near future the cost of crypto assets may decrease by another 5-10%, this decrease can be considered as an opportunity to buy cryptocurrency since there are no problems in the market or fundamental reasons for another collapse yet.
Tips and risks
You can pay attention to coins from the top 10 capitalization such as Ethereum, XRP, Litecoin, EOS and Binance Coin.
The current moment may be the most successful for investing in cryptocurrencies. It is possible that the market will fall even lower in the coming days, but the situation may stabilize. It is impossible to wait for the bottom of the market. When all investors feel confident, the moment will have already been lost. It is necessary to invest when there is still uncertainty in the market.
No one can guarantee that their value will rise or fall. However, at the moment, you can buy many popular cryptocurrencies at a good price.