The crypto market was noticeably doing well over the last few days as the prices of Bitcoin and Ethereum surged beyond important price regions. These two were not the only digital currencies that exhibited signs of a bullish movement.
However, the crypto market has once again seen a slight price correction for cryptocurrencies, which is widespread.
Some analysts believe Bitcoin and Ethereum to be showing bearish signs. In this case, you need to know tips to navigate through the crypto bear market as a beginner.
Long-term investors and traders are familiar with the price fluctuations noted for digital assets and remain unfazed by the temporary drops. Major entities sometimes even take the price drops as an opportunity to buy the dip.
If you are also interested in buying BTC or ETH then make sure you opt for a secure crypto exchange that suits all your needs as well.
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Taking a Look at BTC and ETH’s Price Movement
Bitcoin (BTC) and Ethereum (ETH) are the two largest crypto assets in the world and are always the primary focus.
ETH is the most popular altcoin and is anticipated to outperform Bitcoin at some point in time. The Ethereum network is also highly advanced and keeps evolving, which adds further value to the ETH token.
BTC, on the other hand, was the first crypto asset and pioneer of the entire crypto industry. It has massive dominance in the crypto space and for several reasons the prices of the altcoins are greatly influenced by any movements noted for the crypto king. You can learn more about why altcoins fall when Bitcoin falls here.
Even though the decline is widespread in the crypto space, both Bitcoin and Ethereum are in the spotlight.
After successfully crossing the $23k price mark, the flagship crypto asset has seen another price drop, bringing it to $21,909 (at the time of writing). This is a decline of 3.37% over the last 24 hours.
Here is a graph by CoinMarketCap that shows BTC’s price movement over the last 24 hours.
Ethereum was also seen to successfully cross the $1,600 price mark and maintained it until it saw a price drop once again. It is now trading at $1,521 (at the time of writing), which is a drop of 5.71% over the last 24 hours.
Here is a graph by CoinMarketCap showing the price movement of ETH over the period mentioned above.
Even though the cryptocurrency future may be uncertain at the moment, the experts and analysts expect the prices of both the top crypto assets and other altcoins to recover.
What to Know Before Investing in Crypto?
Investing in crypto can be slightly complex for people who are inexperienced as there are several aspects to keep in mind while buying any asset. There are possible security risks and other elements that are necessary to be considered before investing to ensure beginners have a good overall experience.
You should also take time and learn tips to get started in crypto, some of which are mentioned below.
- Start by investing small and take a look at the best cryptocurrencies for under $1.
- Choose an exchange that ticks all the right boxes for you.
- Monitor the price movement of the digital asset you want to buy.
- Know when to invest.
New crypto investors looking to purchase BTC or ETH can also click on SwissBorg or Kraken (U.S. citizens).
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