The cryptocurrency market drop that has been lasting since the spring of 2022 scared many investors off. However, the downtrend is an excellent chance to enter the market at the lowest possible prices and hold coins waiting for the next bull trend. When you plan to buy cryptocurrency on the downtrend, pay attention to the assets with the most significant indicator of market capitalization. The reason to select mega-cap coins are:
- Assets with large caps dominate over competitors. They set the market trend.
- Large-cap coins are always in demand. So you will quickly sell them if you want.
- Such assets are perfect for long-term investments. Since nobody knows when the following bull trend starts, it would be wise to buy and hold large-cap assets.
The most dominant digital assets in all crypto rankings are, of course, Bitcoin and Ethereum. To convert BTC to EUR, use the WhiteBIT trading exchange.
What is Ethereum?
Ethereum used to come second after the market’s leader – Bitcoin. As of January 2023, one Ethereum (ETH) costs $1,411, and the market cap exceeds $172 billion.
Just a few months ago, the Ethereum network switched to the Proof of Stake mechanism, so from now on, Ethereum coins are not mined but staked, which is much easier:
- Cheap transactions
- Lightning fast network
- High throughput.
Before the transition to PoS, Ethereum suffered troubles with high fees and low network speed. It is quite possible that the coin’s rate will boost during the next bull run. So it is recommended to invest in this asset.
What is Bitcoin?
Everyone knows about Bitcoin – the leading crypto asset in the market, created by an unknown person (or team), reaching top positions in all rankings. In January 2023, the BTC rate is $22,910, with the cap exceeding $364 billion. Bitcoin is the most stable growing asset in the long term, so it is definitely worth it to buy crypto.
It is challenging to pick which is better, BTC or ETH because they are both worth investing in. You will find relevant cryptocurrency prices and good trading conditions on WhiteBIT.