There are so many different crypto assets worldwide that it becomes challenging to pick one of the most promising and stable to invest in. Moreover, amid the latest cryptocurrency prices drop and the overall market downward trend, many have changed their mind about investments at all. Indeed, we are witnessing a significant drop in most crypto assets these weeks. For example, as of late June 2022, the rate of the top asset, Bitcoin, touches the mark of about $20000, which is half the level it was traded in November 2021. So what is happening with the cryptocurrency prices lately, and what assets are worth buying now.
Why Did The Market Drop So Rapidly?
The highest level of inflation caused the downward trend of the crypto market we are witnessing now. There was an FRS (Federal Reserve System) conference, where they decided to increase loan interest rates. So all the markets, including the crypto market, reacted to this global decision.
Then investors started to sell their assets massively, which always results in cryptocurrency rates dropping since the same supply-demand rules work in the market of digital assets.
While some massively leave the market, having no desire to deal with high-risk investments, for many people, such a drawdown is an excellent opportunity to invest in crypto, taking advantage of low crypto rates. So what is the best crypto to buy now?
Actually, when you pick an asset to buy, it is essential to investigate it thoroughly:
- First, check out what is the project’s idea and what problems it solves?
- Who are the project’s founders? Pay attention that the team should be open and have a good reputation. They should have a community of engaged people, publish news on the project, and interact with participants.
- Pay attention to the project’s backers. Large and well-known companies would not support a project that does not deserve it.
The most stable crypto asset is, of course, Bitcoin. So even though it lives through its low crypto rates levels, it has all chances of boosting again when the time comes.
If you want to buy or exchange cryptocurrency, make sure you use credible platforms such as Binance, Coinbase, and WhiteBIT.
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