What You Should Know About Investing in the Top Cryptocurrency
There is a lot of interest in the world of digital currencies these days, including the most recent buzzword, namely, „bitcoin.“ It has been attracting attention from investors and traders for some time now, but what exactly is it? And why is it growing? We will go over some of the most popular coins that are being traded on popular online exchanges today – including Doge Coin, which was almost taken over by bitcoin, but is back on its own feet now.
The news that broke yesterday, that the United States government would be looking to legalize and regulate the new Financial Regulations Modernization Act, caused a huge flurry of activity on the market. The price of bitcoin immediately fell dramatically Wednesday morning, down to a low of around $30, and then rebounded tremendously, reaching a high of more than $37,500 by the afternoon. Since the beginning of this latest pandemic, bitcoin, and all other cryptosporadics, saw its value surge, reaching a high of nearly $65,500 on April 29th. This was the second highest daily total ever recorded for any one-day – only beating the all-time high of nearly $70,500 on April 7th.
With all of this talk about the latest and greatest investment opportunities, you may be wondering what the big deal is about with the Doge project. Well, you have to understand that Doge is not really an actual currency at all, but a new form of currency that is being used by members of the Doge family as a form of currency. In the past, members have used a special piece of software to mint doges and spend them for things such as food, clothing, and even vacations. As exciting as that sounds, it is far from the only thing that can be done with doges. As exciting as it is to hear about all of these innovations, the best way to get started now is through looking into how you can invest in the upcoming wave of currencies. Luckily, investing in doges is easy.
The recent news involving the Doge project has caused a huge surge of interest in the upcoming cryptocurency. While some people see the potential for long term wealth with this virtual currency trading model, others are still looking for a fast and solid return on their investments. One of the best ways to get involved now is by purchasing a small portion of doges before the hype of the Doge sale dies down. By purchasing a small amount of doges, you can invest in a limited number of the currencies that will be introduced throughout the coming year.
Another reason why investing in doges during the hype of the last week is a great idea is because there will be less activity when the hype dies down. The last week’s wild fluctuations resulted in many successful trades that cost hundreds of thousands of dollars in doges alone. A dip in the numbers could cause smaller investors to lose their investment in just a matter of minutes. Then, without the need for significant capital to make the next big move, the value of every cryptocurency will quickly plummet. This will result in even fewer people making a profit, and the prices of most good cryptosystems will tumble.
This process will continue over the coming weeks and months. Many traders are watching the performance of Dash, Vitalik Buterin’s new project that aims to bring smart contract technology to the mainstream. One of the reasons that investors bought doges during the last week is because they expected that the value of ethernet would rise significantly. If the price of ethereum continues to rise over the next few weeks, many traders may decide to get in on the ground floor with Dash, Vitalik’s new project, before other newcomers to the field have a chance to steal the spotlight.
If you’re an investor looking to get into the top cryptocurrencies, you’ll want to learn about the trends that have affected the different currencies over the last few weeks. As you analyze the trends that appear in the charts, you’ll find that Dash and ethereum are currently both far from the top. But, as these charts continue to change, you may see an emerging trend for the top three coins. Whether or not you believe that it is possible for Dash to dethrone ethereum and become the number one top cryptocurrency by market cap, it is important that you are paying close attention to the trends that affect this exciting new industry.
There are many ways to track the performance history of any given coin. For now, you’ll just need to remember that Wednesdays, as well as Fridays, are generally the worst days to buy. Regardless of what happens over the next two weeks, you should always be prepared to make a strong purchase if you’re planning to take advantage of this great opportunity to get in on the ground floor with a winning trade.