It is a complex decision for beginners to select which crypto coin to invest in.
Investing in crypto assets has always been a hot trend among investors around the globe.
According to CoinMarketCap, there are over 5000 crypto-coins to select from, although not all are worth investing in.
With the outbreak of the coronavirus pandemic, the entire global financial market has been distorted. Even the cryptocurrency industry could not escape the onslaught from the virus, having witnessed the most plunge.
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Bitcoin alone has plunged about 45% and fallen from $10,500 to $657 lately. It might interest you to know that not long after the sudden drop in bitcoin prices, search engines such as Google recorded an increase in the number of people searching on how to buy bitcoin.
Now, the cryptocurrency market is nothing but stable. You can probably be one of those prospecting about what crypto to invest in today in order to make it a safe longterm bet.
The cryptocurrency opportunity
Crypto will always remain a good form of investment. So, by thinking to invest in cryptocurrency, you’ll definitely be making a good move.
Also Read: Investing in Gold: Should You Trust this Precious Metal with Your Money?
Although crypto suffered a pullback when its price dropped from $10,000 in February to $4,000 in mid-March, bitcoin has managed to appreciate to $6.699.
Famous investor in cryptocurrency and bitcoin, Tyler Winklevoss, projects that the digital coin will appreciate even more in value as individuals across the world recover from the shock of the COVID-19 pandemic.
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Although bitcoin is the number one choice for cryptocurrency, trading Ripple is another popular Investment choice among individuals.
Unlike most digital cryptocurrencies, Ripples are mostly designed as a payment alternative to financial institutions.
At the beginning of the year, crypto-assets started at about $200 and currently stands at about $220. Crypto experts now predict a rise to $350 at the end of 2020.
A few years back, however, the cryptocurrency market has experienced a bucket load of difficulties. For this reason, it is recommended that crypto investors should always check the latest fundamentals such as market trends before deciding to invest in cryptocurrency.
