Top 2 coins performance during 2023
A big dip in BTC worth has observed. Despite a big dip coin performed well during 2023. At the start of 2023 coin was trading around 16,500. and now coin has gained 70% rise in its worth. Price of BTC may dip down further.
There is no need to panic as coin has still far below to its all time high worth of $68,500. BTC current market cap is around $536 Billion and coin has a market share of 45.7% of overall market cap.
Year 2023 also proved great for ETH. ETH at one stage achieved all time high worth of ($2,140) of 2023. However coin unable to maintain its worth and currently coin is trading ($1,870). Despite big dip coin performed well during 2023. Worth of coin was around $1,320 at the start of 203. Right now coin is trading around $1,82. Coin has managed to gain 41.8% during 2023. ETH has a market share of 19.4% of the total market cap. Dominance of top two coins is more than 65% of the overall market cap.
Top two coins performed well during 2023 despite current dip. We can say that a top two coin shine during 2023. There is no need to take tension if the price of the coins further drop down. Time to hold your asset for a longer period to double or even triple your profit.
Although stats are showing the investment in top 2 coins is a good idea. you must select more coins in your portfolio to diversify your investment. Diversification is must for your portfolio growth. Never accumulate eggs in one basket. 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.
BTC and ETH are the backbone of a well diversified crypto portfolio. And of course there should be some Hive in it too. 😜
True my fried.
The current dip on the top two coins is welcomed, it could be just for some time. The overall market sentiment is still bullish and there's an overall uptrend since the beginning of the year like you've pointed above. Their market dominance at over 65% is huge!
BTC would go grow and see much higher levels however it would not go up in straight lines as it would have to deal with previous support and resistance levels.
While BTC & ETH would provide stability to your portfolio some alts with high beta would give higher returns in short term.
Crypto market is unpredictable, we can get surprises even in the matter of minutes :P
The idea of diversification of crypto portfolios especially during periods of dip in prices crypto worth cannot lose it's cause . During dips, diversification can help to cushion the impact of losses from any one cryptocurrency, as gains in other areas may offset the losses.
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