The crypto market is ever-changing and volatile, and often quite unpredictable as well. Because of that, it can be quite difficult to determine whether or not one should invest in crypto at a given time. To help you out, we decided to give you a quick analysis of the markets today so you can figure out if you should invest in cryptocurrencies in June 2019.
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The Bitcoin Boom
Of late, Bitcoin has been performing exceedingly well and is experiencing a much-needed and eagerly awaited bull run. At the time of writing, it is priced at $9,257.25, and is enjoying a 6.69% price rise.
From one day to the other, the prices are rising quick and high, giving investors substantial returns on investments they had made.
However, as analyst Alex Kruger has suggested, the Bitcoin Boom of June 2019 may be accompanied by an altcoin winter, with cryptocurrencies other than Bitcoins experiencing steady downslides in the wake of the Bitcoin bull run.
At the time of writing, however, most of the top altcoins in the market are experiencing slight price rises. Of the various altcoins, EOS and Dogecoin are performing particularly well and could give investors good returns this month.
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Investment Advice for June 2019
Considering the market situation this month, we would suggest you invest in cryptocurrencies cautiously this month.
Given that Bitcoin has already risen quite a bit, it is best to invest only a portion of your investable money in Bitcoin, to benefit from the small rises that might still come, but at the same time to avoid any dips that might follow the boom.
As for altcoins, it would make for an interesting decision to make small investments in EOS and Dogecoin to cash on the price jumps they are seeing this month.
Both these cryptocurrencies are doing well and could give you significant returns if you set aside even a small part of your portfolio for them.
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