Know that, if we take ETH and hold it for some time and trade, we see a good profit. But many times it happened that after buying ETH, if its price drops, we have the possibility of loss in the trade. Due to many movements in the crypto market, we should trade wisely.
Should we invest long term??
The price movement of ETH previously was not as fast as some other altcoins. That is precisely why Ethereum is suitable for long-term holding. We certainly have no doubts about this top altcoin. With a market cap of $402.43B compared to other altcoins, Ethereum always has the opportunity to exist in the crypto market, and can increase much higher during the altcoin season later. Its circulating supply has also increased.
Yes long term investments are better then short term but BTC is very bullish now and the chances for ETH to follow BTC are higher and when BTC will dump the money will again move into ETH increasing its price.
This is like a patent formula from Ethereum that always follows Bitcoin's price movement, although not as significant as Bitcoin so far. However, the concept is always following.
Oh yes, especially for today, the price of Ethereum is really skyrocketing. in 24 hours, Ethereum has been rising up more than 8% and now the price has been reaching $3,340, and probability to reach higher is higher again.