Crypto prices have been not less than a roller coaster in the past 30 days with lots of ups and downs. The top two cryptocurrencies Bitcoin and Ethereum reached an all-time high, BTC reached $68,640 and ETH reached $4,850 on Nov 10. If you see the price chart for the past 30 days, it is clear that prices are varying so frequently, and has been unpredicted.
When the prices reached an all-time high, it attracted new investors or at least created more curiosity to invest in it. But prices started to drop again rapidly after reaching an all-time high which confused newbies. And now again prices are trending towards $60K (BTC) and $4800 (ETH). Crypto price has always been volatile, so it is difficult to predict if it is a safe bet. Prices dropped almost 100% in July, and again started to gain momentum and reached an all-time high in November. BTC has raised almost 100% and ETH about 125% since the past four months.
As you remember “Can Shiba reach 1 cent?” was trending in October, and Shiba INU raised around 1008% in October and reached an all-time high of $0.00008612 on Oct 28, it raised almost 200% in just one week (Oct 21 – Oct 28) from 0.00002857 to 0.00008612. After an all-time high price, it started to drop and has been between $0.00005~ and $0.00004~ since then.
Another altcoin to note is Dogelon Mars(ELON) which raised around 4800% from Oct 26 to Oct 30, and overall around 250% in 30 days.
Considering all these fluctuations and volatility, you need more time to closely watch and take decisions to make reasonable profits. Another option is to invest long term considering there is a future to CryptoCurrency and just monitor once in a while and make profits when you can.
Provide your thoughts in the comments section and follow or subscribe to get the latest updates.