3 Cryptocurrencies To Invest In During A Bear Market
Crypto’s bear market last year was brutal, especially for persons with monies in high-risk and high-growth projects. Thanks to the Russia-Ukraine war and drastic price increases in the United States, a supposed crypto winter endured all four seasons of 2022. Nonetheless, given the astounding expansion a lot of cryptocurrencies encountered over the past ten years, the assets keep investors involved and on their toes.
In spite of their sprees of fickleness, cryptocurrencies have had superb ROI’s over the long term. For investors who build their portfolios for the long-term — and can handle the turbulent times — dedicating funds to these digital assets could pay off sooner than later. Investing in crypto isn’t everyone’s cup of tea, however, for those looking to wet their beak, here are three cryptocurrencies to invest in during a bear market.
When discussing cryptocurrencies to invest in during a bear market, you must commence with Bitcoin (BTC). Bitcoin is the world’s largest cryptocurrency and more so because it’s the world’s first cryptocurrency. Presently, the digital asset’s market cap is $443.7 billion. 21 million tokens is the max supply of Bitcoin that can ever exist, so it has a limited supply. The token is decentralized, which means no institution or government can influence or control it. Bitcoin is a borderless currency, thereby, it can be received and sent to any person around the globe. The token’s network transactions are recorded on the blockchain (a public ledger) which furnishes security and transparency. Also, traditional financial transactions cost more than Bitcoin transactions. You’re able to purchase cars, vacations, insurance, gift cards, jewelry, groceries and more with Bitcoin as well.
Behind Bitcoin, the second-largest blockchain network in the world is Ethereum (ETH); it’s market cap is $200.7 billion. Program developers are head over heels about Ethereum because of its prospective applications, such as NFTs (non-fungible tokens) and smart contracts that execute mechanically when preset conditionals are met. The token has also endured substantial growth. Ethereum’s price was $11 in April 2016 — fast forward to February 2023, and the token’s price is roughly $1,670 — profit-maximizing 150 times over. Ethereum is undoubtedly one of the best cryptocurrencies to invest in during a bear or bull market.
Binance (BNB) has a market cap of roughly $48.7 billion and is the fourth largest crypto in the world (behind Tether). Binance Coin launched in 2017, and since it has dilated past only enabling trades on BNB‘s exchange platform. These days, it can be utilized to process payments, barter, or even book hotels and flights. Binance Coin also be exchanged or traded for other types of tokens (e.g. Bitcoin or Ethereum). In 2017, you could buy BNB for merely $0.10. Now, in February 2023 you can purchase one BNB token for $309.
Readers May Also Like:
Patrick Mahomes & Other Black Quarterbacks Who’ve Won The NFL’s MVP
South African Rapper AKA, Shot Dead in Durban Nightclub Shooting
Ja Rule Feels No Rap Artists ‘Dead or Alive’ Are Better Than Him
Trump Disses Rihanna Ahead Of Super Bowl Halftime Performance