3 Cryptocurrencies That Can Provide Great Returns Despite the Dip
The crypto market is in its recovery phase post the crash earlier this year. Many cryptocurrencies coped with a huge blow, and their prices went to the lowest in the last few years. However, the previous two months have been fruitful for some of the crypto giants and have provided investors with a lot of hope. Few cryptocurrencies are worth investing in despite the dip.
Bitcoin fell to its lowest a few years earlier this year; its price downgraded to $17,664 in June. However, its price restored in the following months to near $30,000 before entering a bearish phase again. Though Bitcoin is long from its all-time high of $68,000, investors might consider putting their fortunes in the world’s biggest cryptocurrency. The Motley Fool reports that Bitcoin has a market cap of $450 billion; it’s a blue-chip cryptocurrency that will offer excellent returns in the future. The stock market’s fall presents a great opportunity to buy Bitcoin at a lower price. Various industries are introducing Bitcoin due to its ease of utility, and its value is bound to rise in the future and become a great digital asset for investors.
Ethereum is the second largest cryptocurrency in terms of market cap. Like Bitcoin, it, too, is going through a rough phase at present. After the market crash, Ethereum’s price consolidated to the near-$2000 mark. However, it failed to break the resistance level, and the price plunged the following week. Ethereum investors await a major event called ‘merge’ in mid-September, which will provide updated software for the cryptocurrency. Investors can buy the present dip, which will enable them to secure considerable profits in the future.
The Motley Fool reports that Solana’s market cap is $15 billion, a worthy investment option despite the present price decline. The cryptocurrency has decreased 84% from its peak but has increased 56% since June. Solana’s market scenario shows positive signs and might offer significant rewards in the upcoming months.