The crypto world has loads and loads of cryptocurrencies out there. Needless to say, there are plenty of options to choose from, which is why there has been a tremendous increase in crypto investors over the past few years. Despite the plethora of options available these days, bitcoin still remains to be the undisputed king in the crypto landscape.
More often than not, the people making crypto investments end up choosing bitcoin, and for good reason. Compared to almost every other crypto out there, the returns of bitcoin are significantly high. Sure, bitcoin also happens to have a fair bit of volatility but it is still as reliable as they come as far as crypto is concerned.
In case you are new to bitcoin and crypto as a whole, it is worth keeping in mind that bitcoin was the first-ever crypto. Very few people had heard about it and most of the people who did think that it was just a scam. As time passed, however, some people made investments in it and earned massive profits. All of this led to the bitcoin boom period that most crypto enthusiasts often talk about.
During this period, thousands upon thousands of people made investments and ended up earning a tremendous amount of money. Unfortunately, however, this boom period did not last. A lot of people who made investments during the end of this boom period faced massive losses. Some of these losses were so high that the investors ended up abandoning their crypto journey altogether.
After all of this, the rates of bitcoin took a massive plunge and it was believed that it would not be able to recapture its glory days once again. While that does remain true, bitcoin is slowly but surely making a comeback. This is abundantly clear from the fact that its trading level has been increasing quite steadily. As of today, the trading level of bitcoin is lower than $47000.
Being the best and biggest cryptocurrency in the world, bitcoin is now up just above 50 percent for this year. According to a variety of reputable resources, the prices of bitcoin declined by around 3 percent going to an estimated $46,000. Ether, which is a coin that is linked with the known as Ethereum also happens to be the second biggest crypto out there.
What’s most surprising is that Ether also traded with 4 percent cuts. Other than that the meme-based crypto known as Dogecoin plunged close to 4 percent, which made the rounds in the world of crypto news. All in all, this remains an exciting time for crypto, with more people making investments than ever before.