Bitcoin (BTC) and Ethereum (ETH) are the top two digital currencies in the market. Both the crypto coins have unmatchable significance and utility that are getting more prominent with time.
Even though both Bitcoin and Ethereum have been going through extreme price fluctuations, it has not severely affected their utility and importance.
The overall crypto space has been going through a widespread decline that has changed the sentiment among a vast audience towards crypto. On the other hand, there are major entities and institutional investors who have been buying the dip, considering the price decrease as an opportunity to accumulate more.
To the delight of crypto enthusiasts, both BTC and ETH have recently seen slight price surges as the markets go green. Let’s find out more details.
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Price Movement Noted for BTC and ETH
Bitcoin is the world’s largest cryptocurrency and is known as the flagship crypto asset as well. It is the pioneer of the crypto industry and has seen substantial growth since it was created.
After surging as high as the $60k price mark last year, the crypto king saw an extreme decline in its price. It struggled to rise higher than the $20k price region for weeks.
However, the crypto market has seen a shift as the price of Bitcoin has increased nearly 6.66% over the last 24 hours. It is now trading at $21,801 (at the time of writing).
Here is a graph by CoinMarketCap that shows the price of BTC over the period mentioned above.
Bitcoin is not the only cryptocurrency that has seen a surprising price surge. Ethereum, the most popular altcoin, has also been struggling to cross the $1100 price mark and is now trading at $1,242 (at the time of writing). This is an increase of at least 5.54% over the last 24 hours.
Here is a graph by CoinMarketCap showing the price movement of ETH over the last 24 hours.
This has made people quite optimistic about the price recovery for both digital currencies. However, how long both the crypto assets remain in the green cannot be said with certainty at the moment.
Useful Tips for New Crypto Investors
The crypto space is associated with a lot of volatility and unpredictability. Since it is also a vast place, it poses several risks to the interested parties as well, especially those who do not have any prior experience or relevant information.
However, the challenges of stepping into the crypto space and buying or trading crypto can be minimized if the novice parties are familiar with some useful tips as mentioned below.
- Choose the best crypto exchange that ticks all the right boxes for you.
- Start by investing a small amount.
- Keep an eye on the price movement of the digital asset you want to buy.
- Know the right time to invest.
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