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Got $1,000? Here's Why You Should Be Buying Bitcoin Right Now
Bitcoin (CRYPTO: BTC) is priced at about $68,000 (as of March 6), a far cry from its all-time high of $126,000 in October. Five consecutive down months have obliterated market sentiment about the coin, and exchange-traded fund (ETF) outflows have compounded the selling.
But buying assets that almost nobody wants is often when they're the cheapest relative to what they're actually worth. Rumors of Bitcoin's demise have been very much exaggerated. And that means if you're looking to allocate $1,000 into crypto right now, you should probably be buying Bitcoin — here's why.
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Got $1,000? This Cryptocurrency Is a No-Brainer Buy for Long-Term Holding
The cryptocurrency's status as the leader in decentralized finance makes it hard to beat.
The crypto market is still reeling from a couple of years of back-to-back flare-ups of macroeconomic disruption and geopolitical tension, and its hard times probably aren't over yet. Ethereum (ETH +2.45%), for its part, is up just 16% during the past three years, and in the last three months, it fell by 38%.
But at the same time, the network underpinning the value of the coin has never been healthier or more deeply woven into the fabric of digital finance. And if you have $1,000 on hand and are looking for a crypto investment, it's a no-brainer buy, so long as you're willing to hold it for the long term. Here's why.
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