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BTC as usual at the top of the list with a marketcap of $673 Billion which is almost 52.8% of the overall marketcap. Second placed ETH has a share of 17.1% of overall market. Top two coins have an overall 70% (69.9%) of the total marketcap. This reveals the influence of BTC & ETH over alt coins.
Huge Dominance of BTC/ETH open new debates about the way of investment in crypto market. Is it worth to invest in altcoins instead of BTC/ETH or BTC and ETH is the best option.
Actually both strategies are good for investment purpose. If you want to invest for long terms you must invest huge portion of investment in blue chip project like BTC, ETH etc. If you hold for the shorter period of time the good option is to invest in altcoins.
Currently BTC worth is around $34,400 which is almost half of the all time high worth of BTC. If BTC again achieve its all time high worth it will double your investment. On the other hand if you invest in altcoins you have more chances of gaining exponential return. Just check out the example of Hive which is trading around $0.34 which is more than 90% down from its all time high worth ($3.42). If Hive again achieve its all time high worth you will receive 10x profit. This is only one side of story. Other side of story is that alt coins are more riskier than top notch coins. It may make or break you any time. So, if you want to invest in alt coins make sure to do your own research.
In my opinion choice of investment varies from person to person. The best strategy is to invest major portion in BTC & ETH and invest in alt coins to diversify your portfolio. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
