A Bull Market Is Coming: 1 Crypto to Buy Now and 1 to Avoid
The crypto market skyrocketed during the pandemic as several trends converged to make digital assets more mainstream. Social distancing and stimulus checks left retail traders with some extra time and money. Fintechs like PayPal reduced friction by adding crypto support to widely adopted digital wallets. And meme tokens like Shiba Inu (CRYPTO: SHIB) and Dogecoin fueled hysteria by generating jaw-dropping returns in a matter of months.
Oh, how the tide has turned. This year, the crypto market sold off sharply as soaring inflation caused many investors to part ways with risky assets. That led to the forced liquidation of heavily leveraged positions, which caused the market crash to accelerate. The collapse of the Terra blockchain and bankruptcy filings by crypto firms like Celsius, Voyager Digital, and Three Arrows Capital also contributed to the chaos.
That being said, investors can take solace in one fact: The crypto market has recovered from every past downturn, and there is no reason to believe this one is any different. That means another bull market is almost certainly on the way.
Source Fool.com
