A Recent summary of cryptocurrency states Bitcoin and Ethereum dropping – Is it time to Buy???!
There is always a question in cryptocurrency market –“how long the correction will last”. Since there has been a decline in most of the currencies, many popular currencies saw a drop in the price.
A report states that the Ethereum and Bitcoin have overbought due to variation in price. The Thursday morning, price for the Bitcoin has declined by over 12% and Ethereum has fallen down to 14% & more – According to Coinmarketcap.
Bitcoin and Ethereum dropping! Is this time to buy?
As reported on Monday – Bitcoin for the first time traded above $3000 and the sudden drop on Wednesday and price jump of Ethereum on the same is a prove that cryptocurrency market will continue to fluctuate. However, there is an advice for long and short term investors; INVESTORS MUST WAIT UNTIL CORRECTION COMES INTO LIGHT”
This is perfectly true for long-term investors adding value to their investment and holding it till price jumps up and short term traders should wait for short term trend goes up before trading for a coin.