From the beginning of 2021 until now, the cryptographic market has had a rather spectacular discovery. Bitcoin, Ethereum and medium and low capacity currencies, respectively, outperformed the previous ATH and headed for higher prices.
Note: this article is not considered an investment recommendation
In parallel, Dogecoin - few people can think of a project that was implemented in late 2013 with the initial intention of being just a joke for those passionate about the cryptocurrency market.
If you spend $ 1000 to buy Dogecoin on January 1, by now, the amount you will receive back is $ 2021. A very amazing number!
Dogecoin
Dogecoin, unlike Bitcoin and Ethereum, has no lifetime limit on the number of Dogecoins that can be exploited or burned, which puts it at a high level of inflation. Dogecoin supporters have spent years inflating the value of DOGE, but only in the story of Gamestop did it become famous in the Crypto community.
And then, fortunately, this year, Dogecoin was noticed by Tesla CEO Elon Musk, constantly promoting on Twitter and every time Musk wrote on Twitter about DOGE, the currency flies in value.
Bitcoin and Ethereum
The price of Dogecoin rose by 20% on April 29, after just a tweet from Elon Musk. But many investors are beginning to worry about the explosion of this "bubble" when it overlaps.
Why? The evolution of Bitcoin and the most important currencies shows us some of the elements of a successful currency. The first thing is functionality. While payment with Dogecoin is relatively faster than BTC and ETH, it is not suitable for most use cases such as Bitcoin and Ethereum.
For example: PayPal and Visa added Bitcoin as a payment option, while Ethereum is used as a development platform for smart contracts and DeFi. The Bitcoin and Ethereum functions have attracted the interest of institutional investors. Venture capital funds and even governments invest money in Bitcoin and Ethereum.
Obviously, the organizers are not interested in the recent DOGE rally, what they care about is the long-term path, so Bitcoin and Ethereum are still their top choices.
Throughout the history of cryptocurrency development, Bitcoin is still king and Ethereum is queen. Although BTC and ETH do not have crazy races like DOGE, they have multiplied in value since 2020, and investments in BTC or ETH will certainly feel safer compared to DOGE.
In short, if you are looking for cryptocurrency exposure and have a long-term investment plan, then Bitcoin and Ethereum are still the top choices for you.
And if you want to "train fast" ... two or three months to get results, you can get DOGE ... because, after all, there are a lot of "big boys" behind it and the community is very crowded on Twitter and Reddit. Not that I will. I need to take most of my investments out for recovery this year. Health is more important than crypto for me right now.
Therefore, consider carefully before investing, the decision is up to you!
Thank you for being in Hive and for reading my article!
With respect,
@regenerette
Leo gif by @mariosfame