On Tuesday morning, Ethereum went back above $4,600 after multiple brief drops below $4,000 in recent days—the lowest it had gone since early October.
The recent fluctuation follows Ethereum’s latest new all-time high. It was a hit when its price went over $4,850 on November 10th. Bitcoin and Ethereum had both been at or near their all-time highs before this recent decline. With Bitcoin setting a new all-time high of over $68,000 in November as well.
Things to Know Before Investing
The future of cryptocurrency exudes some unpredictability with the price of Bitcoin and Ethereum. However, experts advise investors to remain the same for now.
Ethereum Investor’s Tasks
As with any long-term investment, experts are advised to ignore the difficulties. The latest high price does not mean Ethereum’s instability will disappear.
The real question is: Will they continue to grow in a multi-step, exponential manner?
“Nothing in the fundamentals of cryptocurrency tells me that the answer to this is yes,” says Jeremy Schneider. Schneider is the investing expert behind The Personal Finance Club.
Because there is no guarantee that any crypto’s value will increase, experts advise you to never invest more than 5% of your portfolio in cryptocurrency. Never invest at the risk of not meeting other financial goals. This includes, paying off high-interest debt or saving for retirement.
If you have met all these benchmarks, the best thing you can do is ignore the hype around new record highs or lows. Like with traditional, long-term investing, the best thing you can do is “set it and forget it,” says Humphrey Yang. Yang is the personal finance expert behind “Humphrey Talks”. Yang also previously told this to “Next Advisor.”
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