Thursday, May 19, 2022

Are Bitcoin and Ethereum a good investment in 2022?

Are Bitcoin and Ethereum a good investment in 2022?
Are Bitcoin and Ethereum a good investment in 2022?

Bitcoin and Ethereum represent a great investment opportunity for people who have a considerable appetite for risk, as it has the potential to generate returns that are larger than any other asset class.

Buying Bitcoin could be considered ideal if you’re a speculative investor, as you will own the underlying asset and can add to (or close) your position whenever you seem fit.

A recent article by Time interviewed numerous top financial advisors and asked them how much they would recommend investing in crypto. Their answers ranged from 1% of your portfolio to 2-5% of your net worth, depending on your risk appetite.

Despite the volatility and recent slump in price, many experts still believe that Bitcoin is on its way to passing the $100,000 mark. Though they have varying opinions on exactly when that will happen. As of this writing, Bitcoin has seen a growth of 9.54% for this week, growing from $37,996 to $41,522. 

Ethereum (ETH) – Crypto to Hold Long Term 

Ethereum is not bitcoin’s poor cousin, it has been placed as the 2nd best altcoin investment in 2022, by the Economic Times. The Ethereum blockchain is at the center of several crypto-verse trends, including Defi, the metaverse as well as the NFT mania. This article will tell you what you need to know about investing in ether, the blockchain’s native coin, and the world’s second-largest cryptocurrency.

It is one of the most popular cryptocurrencies to buy in the market, according to believers it has a higher price potential than Bitcoin. The platform provides dApp developers a medium to build their projects and implement smart contracts. To potentially revolutionize many industries. The upgrade to Ethereum 2.0 is expected to make waves, as it will see the platform transition to a Proof-of-Stake mechanism. Thus, significantly boosting speed while lowering fees.

As of this writing, Ethereum has seen a growth of 14.44% for this week, growing from $2,612 to $3,015.

No one is advocating for placing large amounts of your capital into cryptocurrency due to its inherent volatility. So, it’s wise to develop a strict trading plan that works for you and your investment goals. The volatility is nothing new. This is a big reason experts tell new crypto investors to be exceptionally cautious when allocating part/percentage of their portfolio to cryptocurrency. 

If you are looking to invest in cryptocurrency, create an account in WazirX, a subsidiary of Binance, which has over 7.3 million users, as of August 2021.   

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