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BTC as usual at the top of the list with a marketcap of $673 Billion which is almost 52.8% of the overall marketcap. Second placed ETH has a share of 17.1% of overall market. Top two coins have an overall 70% (69.9%) of the total marketcap. This reveals the influence of BTC & ETH over alt coins.
Huge Dominance of BTC/ETH open new debates about the way of investment in crypto market. Is it worth to invest in altcoins instead of BTC/ETH or BTC and ETH is the best option.
Actually both strategies are good for investment purpose. If you want to invest for long terms you must invest huge portion of investment in blue chip project like BTC, ETH etc. If you hold for the shorter period of time the good option is to invest in altcoins.
Currently BTC worth is around $34,400 which is almost half of the all time high worth of BTC. If BTC again achieve its all time high worth it will double your investment. On the other hand if you invest in altcoins you have more chances of gaining exponential return. Just check out the example of Hive which is trading around $0.34 which is more than 90% down from its all time high worth ($3.42). If Hive again achieve its all time high worth you will receive 10x profit. This is only one side of story. Other side of story is that alt coins are more riskier than top notch coins. It may make or break you any time. So, if you want to invest in alt coins make sure to do your own research.
In my opinion choice of investment varies from person to person. The best strategy is to invest major portion in BTC & ETH and invest in alt coins to diversify your portfolio. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
This doesn't mean investment in BTC or ETH
Bitcoin is in general can be a potent investment because the increase of price is upward and there are more chances of it exceeding 40k within a short time.
Altcoins can also have a large base of profit, anyone can choose what to select.
But, putting eggs at multiple basket can be worth the strategy.
Altcoins, are more volatile and unpredictable. This means that they are riskier investments, but they also have the potential to generate higher returns. If you are willing to take on more risk, then investing in altcoins could be a good way to diversify your portfolio and increase your chances of making a profit.
I will say the best is to practice Diversification and this happens in a way that half can be for BTC and half for altcoin
Exactly the way we're seeing bitcoin consolidating which altcoins are benefiting from and silana is constantly pumping and the rest of the coins are trying to follow suit so it's very there is more good news for the market.
#hive #posh