The total market capitalization fell slightly to $1.41 trillion. However, investor confidence in Bitcoin remains high as expectations grow that a potential Bitcoin ETF will be approved in the United States. So, while Bitcoin and Ethereum have attracted significant investment, the altcoin market is experiencing varying reactions and some are facing pullbacks. In this article, we'll look at cryptocurrencies that can be worth investing in for the long term, amidst market fluctuations and volatility.
In this section, we discuss the seven best cryptos for investment. These are traditional and well-established coins with a low market capitalization that can be added to a portfolio with less risk than altcoins.
When it comes to investing in cryptocurrencies, it is important to conduct your own research (DYOR) and understand the risks involved. We emphasize that we only offer options and do not provide investment advice. Cryptocurrency investments are high-risk and may not be suitable for all investors. It is crucial to seek independent financial and professional advice before making investment decisions. Trading cryptocurrencies can lead to loss of money over short or long periods, and investors should expect prices to experience significant fluctuations.
Bitcoin (BTC)
Bitcoin (stock ticker: BTC, sometimes XBT). The first and most popular cryptocurrencies in the world. It was created during the turn of 2008-2009. Despite its "venerable age", cryptocurrency is actively developing. Various solutions have been developed and implemented based on the Bitcoin blockchain. The emergence of Bitcoin has led to rapid growth of the cryptocurrency market and the frequent introduction of a wide range of digital assets. Bitcoin is based on the revolutionary blockchain technology, which has been actively researched and developed by the largest companies in the world for several years. It is widely used in various industries.
When it comes to investing in Bitcoin many use the “HODL” strategy, which is a misspelling of "hold”. It refers to the buy-and-hold strategy among cryptocurrency investors, particularly in the context of Bitcoin and other cryptocurrencies. It involves buying and holding cryptocurrencies for an extended period, typically several years, regardless of the short-term market fluctuations. The idea is to benefit from long-term price appreciation and to avoid making frequent trades, despite the extreme volatility of the cryptocurrency market
Bitcoin is frequently used to stabilize cryptocurrency portfolios and typically represents a substantial portion of the portfolio. When compiling a cryptocurrency portfolio, it is necessary to consider the specifics of the market where many coins demonstrate a close statistical relationship with Bitcoin. Portfolio diversification helps reduce the overall risk. With tactical allocation, investors adopt a more proactive approach, which may require more frequent trading and rebalancing.
Ethereum (ETH)
Ethereum (ETH). It is a digital currency platform for creating decentralized online blockchain-based services (Dapps) powered by smart contracts. If Bitcoin is often called the "digital gold" due to its complex extraction process, limited supply, and excellent investment qualities, Ethereum is sometimes referred to as the "digital analog of oil.” ETH cryptocurrency serves as a "fuel" for smart contracts and Dapps built on its platform.
There is constant debate in the crypto community about which investment options are more attractive: Bitcoin or Ethereum. Despite the relatively young age of the Ethereum network (launched on July 30, 2015), the cryptocurrency "ether" is preferred by well-known figures in the world of cryptocurrencies. They are convinced that the popularity of Ethereum will soon surpass that of Bitcoin.
Not so long ago, Bitcoin began to show explosive growth again. In addition, the BTC dominance index also increased, indicating its share in the cryptocurrency market. Since the beginning of autumn, this indicator has increased, indicating that investors have been transferring capital from altcoins to the major digital coins. When the growth of Bitcoin stops and its market share reaches a certain level, funds from BTC will begin to "flow" back into altcoins, with Ethereum being the largest by market capitalization.
Kaspa (KAS)
Kaspa (KAS) is an evidence-based cryptocurrency that implements the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG does not create orphan blocks in parallel but instead allows them to coexist and organize them through consensus. Kaspa is fast, decentralized, and fully scalable, making it an open-source Tier 1 platform.
The Kaspa is a promising solution for investors. KAS currently trades at approximately $0.13. Buyers are attempting to push the price toward the upper resistance level of $0.16, where bears are expected to mount a strong defense. If the bulls overcome this obstacle, the KAS can resume its upward trend and then surge toward the target level of $0.20.
If the price decreases from the current level of $0.16, this indicates that higher levels attract sellers. KAS may decrease to the 20-day EMA ($0.12). If this level gives way, it signals a potential change in the trend in the short term.
An optimistic forecast is refuted if it breaks and closes below the uptrend line. Failure of the bullish pattern is a bearish signal. The price of KAS may fall to $0.11 when bulls attempt to halt the decline.
Chainlink (LINK)
Chainlink (LINK) was on the verge of releasing Stake v0.2, a highly anticipated milestone. This update follows the integration of Chainlink (LINK) with several chains, including Chainpt and Beefy Finance. It builds on previous collaborations in six blockchains such as Ethereum and Polygon. The bid update aims to enhance security and flexibility, while also introducing a dynamic reward mechanism that showcases Chainlink's dedication to ongoing improvement and innovation. The trading value of Chainlink (LINK) has decreased by 2.35% in the last 24 hours and is currently trading at $14.69. This short-term decline also reflected a 2.51% decrease in the previous week. Starting with Stake v0.2, with an expanded pool of 45 million tokens, Chainlink (LINK) opens significant prospects for its users. The betting feature is expected to attract more users and increase network participation, leading to an increased demand for Chainlink (LINK). However, the impact of this update on the price of Chainlink (LINK) remains to be seen, especially considering current market conditions.
Cardano (ADA)
The Input-Output Global team behind Cardano (ADA) is approaching the impressive milestone of 200 peer-reviewed research papers. These documents, adopted at well-known scientific conferences, emphasize Cardano’s (ADA) commitment to a research-oriented approach in blockchain technology. Cardano (ADA) focuses on development, and achieving its goals is likely to increase investor confidence. Provided that these accomplishments translate into practical and widely accepted solutions, they can have a positive impact on market valuation. Given its strong focus on research and development, the future of Cardano (ADA) appears promising. Owing to advancements, such as the integration of Hydra nodes and the development of artificial intelligence through the beta launch of Girolamo, a productive Internet chatbot, Cardano (ADA), is poised for further growth. However, the real challenge is to transform these scientific advances into practical market-oriented solutions that can attract users and investors. If Cardano (ADA) can successfully fill this gap, its value can increase significantly.
Dogecoin (DOGE)
There has been a noticeable increase in transactions involving Dogecoin (DOGE), primarily driven by the surge in meme coin trading and the activity surrounding Doginals. Doginals, an experiment inspired by Bitcoin ordinals, allows users to write images and text on the Dogecoin blockchain (DOGE). This innovation has brought attention to Dogecoin (DOGE), despite the mixed performance of DRC-20 tokens. DRC-20 tokens are a type of token introduced for trading in the Dogecoin ecosystem (DOGE).
Fluctuations were observed in the total trading volume of Dogecoin (DOGE). After reaching its peak, the volume dropped to 249.63 million, while the price of Dogecoin (DOGE) remained steady at $0.078. This represents a decrease of 1.03% over the past seven days.
The number of Dogecoin (DOGE) owners has now reached 5.31 million, and the growing number of active addresses indicates a growing interest in the coin. If this trend continues, Dogecoin (DOGE) may be ready for a new rally. However, the performance of the coin is closely linked to market sentiment and the success of its innovations, such as Doginals and DRC-20 tokens.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is currently experiencing a critical period, as historical data indicates a decline in prices during December. This trend has been observed since the establishment of the Shiba Inu (SHIB) tribe, with a double-digit percentage decline in numbers every December over the past three years.
Historically, December has been a challenging month for Shiba Inu (SHIB), which has experienced significant declines. For instance, in 2021, there was a noticeable decrease of 29.5%, followed by a 13.5% decline in 2022. The average and median values for Shiba Inu (SHIB) during these months represent a decrease of approximately 21.5%. This historical trend suggests that Shiba Inu (SHIB) could potentially face a decline, possibly reaching a low value of approximately 0.00000653 USD per token.
Despite the historical bearish trend in December, Shiba Inu (SHIB) shares showed signs of breaking this negative pattern. This was evidenced by the results in November 2023, which ended with a 6.83% increase. This resilience shows that the token has the potential to challenge these trends, even as Shiba Inu $SHIB prepares for an unstable December.
Conclusion
The cryptocurrency market is experiencing a mixed trend. In this volatile market, such cryptocurrencies as Bitcoin (BTC), Ethereum (ETH), Kaspa (KAS), Chainlink (LINK), Cardano (ADA), Dogecoin (DOGE), and Shiba Inu (SHIB) face unique challenges and opportunities in the dynamic landscape of digital assets. The market has continued to grow.
Cryptocurrency investing can be highly profitable, but it is also highly volatile, so it is crucial to remember that conducting your own research (DYOR) and understanding the risks involved is essential. Trading cryptocurrencies can result in money loss over both short and long periods, and investors should anticipate significant price fluctuations.
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