Which Cryptocurrency Is Best for Beginners?
Cryptocurrency has been around for a while now. Many investors have made a killing during this period and many are jumping on the bandwagon. However, a number of beginners don’t know where to start in terms of which cryptocurrency they should invest in.
This guide aims to provide an insight to which cryptocurrency you should invest in. Well, without any further delay, dive in and find out.
Beginners should select Bitcoin for their start because this is the oldest cryptocurrency in the market and if you’ve heard of cryptocurrency, you’ve probably heard about Bitcoin more like a brand. In fact, it still holds market dominance with a 40% market cap. By the close of 2017, the price of Bitcoin was at an all-time high of $20,000.
This was a great rise considering the price of $76 when it first hit the market in 07.09.13. However, in the first two months of 2018 Bitcoin dropped to $6,000.
This drop was a result of the first drop to half its price, $10,000, leading to a massive panic among investors. However, if you purchased Bitcoin in February 2018 when the prices were low, you have made a killing by now.
Investing in Bitcoin
If you are a beginner and thinking about Investing in Bitcoin requires you to keep up with the latest trends and news in Bitcoin. That includes the prices that will guide you on the best time to buy. For example, when the prices drop, that’s the best time to buy Bitcoin.
Nevertheless, Bitcoin is a great investment, although it will depend on how much faith and trust you have in it. If your faith in the investment is weak, then the best advice is to stay away.
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