What coins should you invest in when the crypto market is down? Ethereum (available on Coinbase) (ETH) and Litecoin (available on Coinbase) (LTC) might be good options for you – and here’s why.
The crypto market is known for being volatile. Just recently, on Monday many coins were down due to this announcement made by China. While many coins are beginning to recover from this, prices still haven’t re-adjusted to where they were at a month ago, for some even a week ago. This isn’t great news for current investors, but it does open the door for newer investors looking to get in on the market while it’s down.
The best time to invest in anything is when the market is down, and crypto is no exception. You could get a better deal this way and have a higher chance of turning a decent profit if you got in low. It should be noted that we’re talking about long-term investments here. There will be many dips and hills along the way; long-term investing is about being patient through the market’s many curves and waiting for the right moment to cash-out if you choose to do so. Obviously, you don’t want to sell when the market is down, but you do want to buy. It’s all about timing.
With the crypto market not yet fully recovered, here’s our list of cryptocurrencies that may be a good investment to get in on now for later down the road.
Ethereum (available on Coinbase) (ETH)
Why Ethereum (available on Coinbase)? It’s not the cheapest coin out there (nor is it the most expensive), but it is the second highest ranking crypto by market cap, which is a good indication of the strength of the coin. It’s also important to remember that you don’t have to buy an entire coin; you can purchase a portion of ETH and still be considered an investor in it.
Ethereum (available on Coinbase) isn’t just a digital currency. It’s an open-source network that was designed to be built upon. Ethereum (available on Coinbase) has far more applications than, say, Bitcoin (available on Coinbase), and many ongoing and upcoming blockchain projects are using the Ethereum (available on Coinbase) network, such as Faceter or Medicalchain. In fact, the majority of ICOs these days are launching on the Ethereum (available on Coinbase) network. If developers believe this much in Ethereum (available on Coinbase), it’s worth noting.