From various horizons, the crypto space has been kept busy with different events happening almost simultaneously. While crypto fans are recuperating from the dip in bitcoin price and its correlation with the FTX collapsed.
Some investors have paused investing in cryptocurrencies at the moment due to the way the market crash seems to affect every coin’s value. But as a seasoned crypto investors, is delaying investing in cryptocurrency the best course of action now?
We will try to answer this question in this article and also talk about the best coin you can invest in now.
Crypto Volatility: Is this the best Time for Crypto Investors?
Before investing in any cryptocurrency or stock market, investors must keep the concept of “risk” in mind. Risk can be anything that has a propensity to negatively impact your investments, most likely causing your investment value to increase or decrease depending on market conditions.
If you understand that risk is part of the investment, you should also understand that crypto investors are not advised against taking a risk. Rather it is recommended to invest in portfolios with less risk.
So if you understand now that risk is part of any investment, then the current state of cryptocurrencies shouldn’t discourage you from investing or trading. Instead, carefully evaluate the coins to determine which ones are the best to invest in or trade.
Every crypto enthusiast should follow this general rule when selecting which coin to invest in; it is not dependent on a particular period or occasion. As a result, you can agree that now might be the ideal time to invest. But given the state of the cryptocurrency market now, is this the best time to invest?
Why You Should Invest in Crypto Now
The fall in the value of Bitcoin and other cryptocurrencies can have different consequences for current and prospective crypto investors. While large coin holders are bemoaning their losses, now is the ideal time for potential crypto investors to buy cryptocurrencies.
In other words, if you have coins in your wallet, it’s not a good idea to sell them right now, especially if the price drops below where it was when you bought them.
So, if you’re not planning to trade in real-time, the idea is that you can buy coins at a discount and sell them at a higher price. Stablecoin holders are exempt from this.
If this is the conventional notion, now may be the best time to invest in some cryptocurrencies affected by the current state of the economy. The price of coins like Bitcoin is lower than it was two years ago, but it can rise again over time. So, ‘Buy the Dip!’
Notably, cryptocurrency is a competitive substitute for “traditional” asset classes for short- and long-term investing although the returns are clearly uncorrelated in both markets. However, day traders with the help of Bitcoin 360 ai can find cryptocurrencies appealing because they make consistent profits that frequently outperform those possible with other financial instruments.
So let’s discuss the best cryptocurrency to trade in November 2022. This will cover coins suitable for day traders.
Best Cryptocurrency to Trade in November 2022
The crypto community has been arguing about which cryptocurrency to invest in given the current chaos, where huge crypto firms are battling to stay competitive. To help you stay ahead of the curve, we have compiled a list of the best cryptocurrencies to trade in November 2022.
1. Bitcoin (BTC)
The top coin you should invest in right now, despite its current volatility, is Bitcoin. With a market cap of over $321.69 billion, it is one of the coins that consistently survive market crashes. As of November 18, 2022, the price of one Bitcoin is over 16,747.76 USD, up from around $500 in 2016.
Also Read: 5 Easy Strategies to Buy Bitcoin
2. Ethereum (ETH)
Another coin you should be investing in now is Ethereum. Ethereum is a blockchain platform with a $149 billion market cap that is valuable and used in various blockchain applications. Its market value increased from about $11 to over 1,219.03 USD between April 2016 and November 2022.
Overall, the outlook for Ethereum is bullish, and it is a good long-term investment for the ensuing one to three years. This indicates that over the long term, there is anticipation for a price increase.
3. Solana (SOL)
Another cryptocurrency you ought to buy right now is Solana. It is a well-known coin with a market cap of around $5 billion that powers decentralized finance (Defi) via smart contracts and decentralized applications (DApps). SOL’s initial retail price in 2020 was $0.77, but by November 18, 2022, it had increased to almost $ 13.70.
4. Binance Coin (BNB)
AnothAnother excellent option for crypto investors is Binance BNB, which has a market cap of over $43 billion and is unquestionably an investment you should not doubt about.
BNB’s price increased from $0.10 in 2017 to $272.86 on November 18, 2022.
5. Cardano (ADA)
Because ADA is regarded as a reliable short-term and long-term investment, this currency is attractive to crypto day traders and scalpers. As of November 18, 2022, Cardano has a live price of $0.32 per (ADA/USD), a market size of $11.29 billion, and a 24-hour trading volume of $215 million.
With the help of the Cardano ecosystem, programmers can create scalable blockchain networks, tokens, decentralized applications, and other use cases.
6. Polygon (Matic)
As of November 18, 2022, Polygon (MATIC), the tenth-largest cryptocurrency, outranks all others with a market cap of $7.75 billion. MATIC is a profitable investment for long-term crypto investors because it is anticipated that the coin will be worth 11.37 USD in 5 years.
Matic has secured several significant partnerships in 2022, which will result in significant profits for its investors. As of November 18, the company’s share price is $0.88.
Also Read: Top Crypto Traders to follow in 2023
Recent unfriendliness in the crypto industry should not deter any crypto enthusiasts from making investments. Since the cryptocurrency market has never been stable, expect these coins’ value to increase over time.