Cryptocurrency is the most valuable intangible asset at this time. Somebody thinks it’s a money-making machine and somebody thinks it’s the world’s biggest scam. Because the most popular cryptocurrency Bitcoin (BTC) has increased in value by 612% over the past year. Due to this sudden rise in value, many investors have become billionaires over a very short time. Many people think that behind this big bull there is one person, Elon Musk, the owner of Tesla and SpaceX.
On February 28 Tesla purchased 1.5 Billion Bitcoin (BTC) and announced it through Twitter. After this announcement, the price of Bitcoin (BTC) increased rapidly. Sometimes Elon Musk posts tweet about his support for Bitcoin (BTC). Elon Musk continued his drama for a couple of months. That time the price of Bitcoin (BTC) went to the moon. After some months Elon Musk again tweets that his company Tesla will not purchase Bitcoin (BTC) anymore. Many investors were tensed after the tweets. Last month Elon Musk again started his drama by promoting a meme coin namely Dogecoin. Its price also increased but not like Bitcoin (BTC).
Now Elon Musk started to promote another cryptocurrency similar to Dogecoin i.e. Shiba INU Coin: The Dogecoin Killer.
28th June was Elon Musk’s birthday. That day he tweets a weird speech like “Baby Doge, Doo, Doo, Doo” Many people are surprised by seeing this type of weird tweet. Some people also think that maybe he was drunk during his birthday party and this time he tweets that. Whatever, it doesn’t affect the price of Shiba Inu or Dogecoin. That means Elon Musk’s tweets aren’t working anymore.
Now I give you some advice for investing in Cryptocurrency:
- The price of Dogecoin and Shiba INU is so low. So if you want you can invest a small amount of money in this. The amount is not more than $50.
- Don’t invest on the basis of Elon Musk’s tweets.
- If you really want to invest in Cryptocurrency and you have lots of money then go for Ethereum. Because maybe by the end of this year its price will be 2.5 times higher. Many investment advisors said that Ethereum will be the number one Cryptocurrency after some years.
- You can also invest in Bitcoin (BTC). But first, invest in Ethereum.
- If you wanna invest in some more Crypto coins then go for Polkadot, Tether, Cardano, Litecoin, Solana, Polygon. But invest in a very small amount.
- Finally, invest that amount which amount of loss you can bear. Anytime the Crypto market can gain and anytime it can fall.