Cryptocurrencies can be very volatile. It looks like over the last 24 hours both Bitcoin, and Ethereum has taken a bit of a tumble. It seems like it’s holding up to 300 Mark for Ethereum and as of 12 PM MST time it is back on the rise. There was blood in the water, and the sharks are swimming.
Ethereum back on the rise time to buy during the dip!
Panicking is not the best solution, buying on the dips and dollar averaging seems to be the way the smart players are playing the game. Ethereum has the edge over Bitcoin and will end up eventually being the real leader in blockchain technology. Ethereum has all others beat when it comes to being used for smart contracts.
There have been many Fortune 500 companies that have jumped on the Ethereum bandwagon and with that said it is not going anywhere and will be here to stay. The days of 10% gains every day may become few and far between. The fact of the matter is that it will continue to climb. A correction of this type was without saying as the writing was on the wall, but speculators and greed come into play pushing prices consistently.
Ethereum will be the major player, in fact, most predict it will end up being worth more than Bitcoin. The whole cryptocurrency market went up too quick too fast, and corrections will always come and go. Again remember the smart players buy on the dips. There are no current significant reports that expect Ethereum or Bitcoin to become worthless.
One thing you do have to understand is to make sure you are diversified. Don’t sell your house and invest only in cryptocurrencies. Unexpected things can happen, and as you saw over the last 24 hours, corrections can occur at any time.