Cryptocurrencies have had a whirlwind of a year so far. Between reaching record-breaking highs and then crashing a few months later, they’ve experienced a roller coaster of ups and downs.
Many of the major cryptocurrencies — including Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), and Dogecoin (CRYPTO:DOGE) — are still in a slump. Over the last two months, the price of Bitcoin is down nearly 35%, Ethereum has fallen by nearly 50%, and Dogecoin has dropped by close to 60%.
However, if you’ve been waiting to invest, now might be a smart buying opportunity. Market downturns can be a good chance to “buy the dip” and invest when prices are at their lowest.
Not all cryptocurrencies are created equal, though, and some are a better investment than others. Between Bitcoin, Ethereum, and Dogecoin, which option is best for you? Here’s what you need to know.
Created in 2009, Bitcoin is one of the oldest cryptocurrencies. It also has the most name recognition, which gives it an advantage over its competitors, and it’s been referred to as “digital gold” because there is a limited supply of tokens that can be created.