It’s no secret that Bitcoin prices are surging. With more positive press and a related rise in participating consumers, Bitcoin values are on the up and up, leaving investors in a unique position.
It’s putting a big decision in the hands of everyone who plans to – or already is – investing in Bitcoin: do you buy more Bitcoin, or wait to see what happens first?
Right now, a good number of investors are switching their investments to other forms of cryptocurrency as Bitcoin prices continue to rise. Surprisingly, it’s not only Bitcoin’s high price steering them away. Investing in other cryptocurrencies looks more attractive, especially now that the biggest one costs so much.
Check out these reasons skilled investors are taking on other cryptocurrencies while Bitcoin continues to surge.
Other Cryptocurrencies Have Lower Values (For Now!)
As one of the most well-known names in cryptocurrency, it isn’t surprising that Bitcoin costs the most. Since cryptocurrency value is directly related to popularity, Bitcoin has been on the rise for quite some time.
Other, less popular cryptocurrencies cost less for now, but prices are constantly fluctuating. Some even move by the second! Buying in at a lower price is a smart move if you want to see your investment multiply in the future.
Lesser known cryptocurrencies still follow their own trends; many are moving up. Names like Telos, Gnosis, and Alpha Finance Labs are up the most right now, making them hot names to follow as alternatives to the high-priced Bitcoin.
Investors who are keeping an eye on trends for these smaller cryptocurrencies are starting to buy in since the prices are so low in comparison to Bitcoin.
You Can Buy and Sell As You Please
One of the biggest draws to investing in cryptocurrencies is the ability to buy and sell whenever you choose to do so. Bitcoin’s high price makes it a riskier trade right now, keeping more modest investors away from making any trades.
With Bitcoin surging, more people are opting for the less risky cryptocurrency choices. The lower values that fluctuate so rapidly make it a little bit easier to part with your investments.
Since it is so easy to trade, there seems to be more of an opportunity to increase your assets with other cryptocurrencies. Getting more consumers interested and involved will ultimately boost the price of smaller cryptocurrencies, helping you in the long run.
Ethereum: On the Up and Up
Right behind Bitcoin, Ethereum is positioned as the second-largest cryptocurrency market. At this point, Ethereum appears to be on an upward increase, making it another hot cryptocurrency for investors.
While all investing in crypto is risky, Ethereum continues to be in the spotlight, making it a popular choice right now, especially with Bitcoin trending higher than most are willing to pay.
Even so, Ethereum is on track to get just as high as Bitcoin is valued. It just isn’t quite there yet. Investors are seeing these predictions and choosing to buy now before the price does go too high. That could be the right move to make money in the long run!
More trustworthy than smaller cryptocurrencies but not as pricey as Bitcoin, Ethereum has the potential to make major waves on the scene. Right now might be the time to buy in!
Hang Onto Your Bitcoin Investments
With prices so high, you might be tempted to trade and sell all your Bitcoin assets before the value dips again. That could be a smart strategy for some, but it’s also a good idea to hang onto some of what you have to see how much it will grow.
Buying more, however, isn’t what investors seem interested in doing right now. It’s currently a better market for waiting it out and buying into other, safer investments.
Keeping some of your Bitcoin investments will let the profits continue to go up as the value increases. Securing other investments in other cryptocurrencies will then give you the chance to still invest some more without risking the big money that potentially lies in Bitcoin.
So although you can cash out on some (which is smart when the value is so high!), you should also keep some of your investments in place to watch them reach new heights.
It’s Also A Good Time to Cash Out
As mentioned earlier, if you have quite a few investments in Bitcoin, cashing some out can earn you some major dollars! Investors may not be buying more right now, but it sure is a good time to make some quick cash on the money you’ve earned.
To make cashing out simple, you can take a quick trip to any of the Crypto ATMs that are popping up all across the country. An easy Google search will tell you how many are in your area and where you can go to make a transaction.
The best part of using an ATM made for cryptocurrencies is that it doesn’t request any banking information as many online platforms do. This drastically minimizes the risk of hacking and losing any funds that websites often come with.
Another great feature of these machines? You can actually invest in more cryptocurrencies, not only cash out on existing ones! Since they’re so easy to use and conveniently located in safe locations, consumers are choosing to rely on ATMs to make new investments.
With the recent upgrades in technology and the locations coming up in more communities, it’s never been easier to take part in this booming market.
Looking to Buy?
With investors making the switch from pricey Bitcoin investments to safer cryptocurrencies, you might be wondering if now is the right time to get in on Bitcoin.
According to Cove Markets, getting into Bitcoin buying is not an exact science. Many factors play into the best times to buy, such as how popular the crypto is at the moment and how many consumers are buying it.
It also depends on how much you are willing to risk and invest. There is no way to know if it’s going to go up or down, though some predictions do tend to be accurate based on recent trends.
It’s ultimately up to you to decide if now is the right time for you to buy into Bitcoin or any other cryptocurrency that seems to be on the rise.
With Bitcoin surging and investors backing out of the risky investment, it’s time to start looking at some of your other options, too.
Cryptocurrency always comes with risks, as does any type of investing, but it can also be a fun way to watch your money grow in the modern world!