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What cryptocurrencies to buy during a correction?

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cryptocurrencies to buy

What cryptocurrencies to buy during a correction?

What cryptocurrencies to buy which in the future are capable of recovering to peak values and showing further growth have identified Bitxmi experts. Bitcoin’s price has dropped more than 50% since its April high. 

Over the past two days, bitcoin has grown by 20%, to a maximum of $ 38.4 thousand. The capitalization of the main cryptocurrency exceeded $ 700 billion again. During the same period, the price of Ethereum increased by 7%. Now the first altcoin in terms of capitalization is trading at $ 2.46 thousand. BXMI token has risen in price by 23% in two days and reached $ 0.73. Bitxmi experts have named digital coins promising for purchase, which are highly likely to grow in the long term.

Bitcoin

At the moment, there is a correction on the crypto market, which has reduced the cost of bitcoin by almost 50%, compared to the April maximum, when the price reached $ 64.8 thousand. According to BitXmi experts, the current situation allows you to purchase twice as much of an asset, compared with investors who entered it at $ 62 thousand.

“Right now, there is a correction in the crypto market, but this is not important for those who are considering investing for 5 or more years, since it is nothing more than another phase of the Bitcoin growth cycle.” – experts say

Experts recommend sticking to a more conservative investment option and keeping a 50% share of bitcoin in the portfolio. It is necessary to balance the volume of bitcoin in the portfolio based on the share of the main cryptocurrency on the crypto market since this indicator directly indicates the liquidity of the asset.

Altcoins

The second cryptocurrencies to buy is Ethereum. The largest altcoin in terms of capitalization demonstrates much higher growth dynamics in percentage terms than bitcoin.

However, the growth of Ethereum this year is insufficient, experts say. The reason is that the billions in profits that artists receive from the sale of NFT tokens are immediately converted to fiat. Another incentive for the growth of the altcoin rate, according to the expert, is the prospects for the launch of the Ethereum 2.0 network.

Experts also consider Cardano to be a promising digital coin. The altcoin is a real competitor to Ethereum. If the Cardano developers implement their roadmap, they will be able to implement what the DeFi protocols on Ethereum lack: interoperability with other blocks, the functionality of the computer, and the presence of an ERC-20 converter.

Risky investments

BitXmi experts recommend not to forget that the riskiest investments bring the most profit. In this regard, they advise leaving 10% of the investment portfolio for the riskiest investments. It is worth investing in the “extra” money that you are not afraid to lose.

Such assets include Dogecoin, the price of which depends solely on the information noise and tweets of the CEO of Tesla and SpaceX Elon Musk. This asset class also includes little-known tokens in which whales invest and NFT tokens.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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