Bitcoin and Ethereum are among the primitive currencies that laid the foundations of the cryptocurrency market. And because of this, they are basically seen as safe havens because they are so powerful. Despite steady but slow price rises, investors have other options. DeFi, meme coins and NFTs can be more lucrative than established cryptos…
Investors use their BTC and ETH reserves for more profits
Bitcoin price has increased by about 150% since the beginning of 2021, which included a 132% boom and a nearly 100% drop. Backwards, cryptocoin.com The price of SHIB, which we have quoted as the SHIB, has been appreciated by more than 440% in 15 days very recently, after a trend that has remained silent for about 5 months. But still, will people sell Bitcoin or Ethereum for the Shiba INU?
Long-term investors may find it hard to digest that short-term retail traders prefer established cryptocurrencies to fast-profit altcoins. People believe they can multiply BTC with profits made with these meme coin tokens. And therefore, with the current rise in SHIB price, investors are selling their Bitcoin and Ethereum. But the timing may be wrong. A Twitter analyst says that those who do are currently buying SHIBs at the top price:
People actually sold their ETH and BTC to buy the top of SHIB. These people will not succeed.
Is the meme coin choice a bad idea?
It depends on how well the traders do with how much research they do or how much they want to lose. Phenomena and analysts warn and recommend in-depth study before dealing with meme coins. But it is also true that you can convert 1 BTC to 2 with the right strategy and exit plan.
In general, the fact that fundamentally strong projects such as Bitcoin, Ethereum, Cardano, Polkadot provide good returns on time should also be taken into account. A rapid recovery is imminent as the probability of a major decline of more than 80% to 90% decreases and most importantly, if this happens. Analysts still note that meme coins like the Shiba Inu are similar to a lottery ticket and have a similar chance of winning.
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