Bitcoin and Ethereum are among the primitive currencies that laid the foundations of the cryptocurrency market. And that’s why they’re basically seen as safe havens because they’re so powerful. Despite steady but slow price rises, investors have other options. DeFi, meme coins and NFTs can be more lucrative than well-established cryptos…
Investors use their BTC and ETH reserves for more profits
Bitcoin price has seen an increase of around 150% since the start of 2021, which includes a 132% padlock and a nearly 100% drop. Backwards, Cryptocoin. com, the price of SHIB, which we quoted, has been appreciated by more than 440% in 15 days very recently, after a train that has kept its silence for about 5 months. But still, will people sell Bitcoin or Ethereum for the Shiba INU?
Long-term investors may find it difficult to digest that short-term retail traders prefer established cryptocurrencies to fast-paying altcoins. People believe they can cash out BTC with profits made with these meme coin tokens. And therefore, with the current rise in SHIB price, investors are selling their Bitcoin and Ethereum. But the timing may be wrong. One Twitter analyst says that those who do are currently buying SHIB at the top price:
People actually sold their ETH and BTC to buy the top of SHIB. These people will not succeed.
Is choosing meme coin a bad idea?
It depends on how well the traders do with how much research they do or how much they want to lose. Phenomena and analisdollarser warn and recommend in-depth study before dealing with meme coins. However, it is also true that you can convert 1 BTC to 2 with the right strategy and exit plan.
In general, the fact that fundamentally strong projects such as Bitcoin, Ethereum, Cardano, Polkadot provide good returns on time should also be taken into account. A rapid recovery is imminent as the probability of a major decline of more than 80% to 90% decreases, and most importantly, if this happens. However, Analisdollarser states that meme coins like the Shiba Inu are similar to a lottery ticket and the chances of winning are similar to them.