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No one can answer that question with certainty. It’s like asking whether to invest in Amazon or Pets.com in the late 1990s. You just never know which one will go bust. Any investment you make whether it be stocks or crypto, there is risk attached to it. The best you can do it minimize the risk by diversifying your portfolio. When we talk about investing in Bitcoin or Ethereum risk to reward ratio is huge.
Before you go about putting your money into cryptos, know where exactly you are investing. It is important to understand the technology behind the cryptocurrency. You can educate yourself by reading the white paper (usually available on the official website) and joining slack channels to engage with the community.
The most important thing you need to do is to keep yourself updated with the latest news. In the crypto world, news spreads like fire and quickly affects the price of the currency. Also, this market is not for the fainthearted. The volatility is extreme. Ethereum price for instance started off this year with $8 and soared to $400 in less than six months. It has again managed to crash back to $200 at the time of writing within weeks of reaching record high.
Bitcoin’s value has continued to appreciate over the years. Although not without its ups and downs. When Ethereum price reached its peak, Bitcoin also registered a record high of £3000. The question still remains.
AvaTrade Cryptocurrencies review
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