It seems like the cryptocurrency market is still going through a bad time. The bad times have continued to go on for the past few months. Pretty much all major coins have been down in trading along with altcoins.
In January, Cardano (CRYPTO:ADA) was down by 10.7 % (roughly), and it was off by 5.7%, Binance (CRYPTO:BNB) was down by 6.8% (roughly), and it was off by 3.5%. While Solana (CRYPTO:SOL), before a small recovery, was down by 9.9 % (roughly), and it was off by 5.7%, and Polkadot (CRYPTO:DOT) was down by 7.1% (roughly). But before this fall it jumped to almost 11%, in a matter of 24 hours.
It is quite hard to discover cryptocurrencies that can surpass the first and top cryptocurrency of them all, which is Bitcoin (BTC). It might look as easy but it is not. Trying to look for something already deeply rooted in the market and not see the price compared with Bitcoin is tough to acquire.
Portfolio managers who wish to hedge their alternative coin (altcoin) asset, being fully aware of their assets’ association with more liquidity, show a big counterbalance they might take. It would be great if it also offered a minimum per data point on how to seek opportunities to expand their portfolio. Well, one can hope anyway. However, the previous month has suffered overall, and some altcoin has been struck hard, opposite of their anticipated return in relation to Bitcoin.
If you have been planning on investing in crypto, then buying on the dip is the best thing to do so.