Bitcoin (BTC) & Ethereum (ETH) Become Safe Coins to Buy When Crypto Markets Are Volatile

Bittime - Bitcoin (BTC) and Ethereum (ETH) are the safest crypto coins to buy when the market is volatile. This article discusses the analysis in depth, let's take a look!

Why is Bitcoin (BTC) Safe to Buy When Crypto Markets Are Volatile?

The recent launch of a Bitcoin ETF in Hong Kong brings a breath of fresh air to the future of this cryptocurrency. It is hoped that there will be a positive impact on the price of Bitcoin, considering the 130% increase it has achieved so far this year (year-to-date).

This was driven by two main factors: the approval of 11 Bitcoin ETFs by the Securities and Exchange Commission (SEC) via an omnibus order, and Bitcoin's fourth halving event.

However, Bitcoin's current price movement shows a sideways trend, with a 4% decline in the last 30 days.

Check Today's Crypto Market:

Bitcoin Price Prediction: From Significant Rise to Wider Adoption

Even though the crypto market is currently experiencing fluctuations, Bitcoin's long-term prospects still look bright. Various financial experts have varying price predictions, with some predicting significant increases and others focusing on increasing adoption and scalability.

Standard Chartered Bank is optimistic about Bitcoin's future, predicting the price to reach $150,000 by the end of 2024. On the other hand, Ark Invest and Cathie Wood are much more bullish, predicting a price of $3.8 million by 2030.

Jack Dorsey, CEO of Square, also has a positive outlook, seeing Bitcoin breaking $1 million by 2030. His investment in an open Bitcoin mining pool shows his belief in the digital currency's potential to reduce risk and increase its value.

Source: Reuters

Apart from price predictions, technological developments are also in the spotlight. Layer 2 solutions like the Lightning Network are increasingly scalable, enabling faster, instant and cost-effective Bitcoin transactions. This increases Bitcoin's effectiveness as a trading tool and encourages wider adoption.

New technologies like Channel Factories on the Lightning Network further simplify the go-to-market process for new users. With lower channel launch costs, Bitcoin adoption is predicted to accelerate.

Also read: GameStop (GME) Price Prediction, Will it Reach $86?

Reasons why Ethereum (ETH) is safe to buy when the crypto market is volatile

Ethereum (ETH) has just completed a major update called “Dencun” which brought positive impacts. This update lowers data costs, increases flexibility, and makes the network more efficient.

This is part of Ethereum's ongoing efforts to improve its blockchain, along with the development of proto-sharding and more cost-effective Layer 2 transactions.

Important Ethereum Milestones in Retik Finance

On the other hand, decision-making regarding several Ethereum ETFs by the SEC was postponed until June. If the same thing happens to the Bitcoin ETF, Ethereum is predicted to hit a record high of $4,878 once institutional funds start to flow in.

Another important event was the launch of Trading by Retik Finance on May 21st. The platform aims to integrate DeFi options into conventional finance.

This has the potential to have a significant impact on the DeFi market which is predicted to reach a value of over $26 billion by 2024.

Source: Token Metrics 

Keep in mind that most DeFi contracts operate on Ethereum, so ETH holders need to keep a close eye on this development.

Overall, experts such as JP Morgan predict significant growth for Ethereum in 2024. This is driven by various factors, such as changes made, increasing institutional interest, and regular updates (including the Prague/Electra {Pectra} update scheduled for release in the fourth quarter 2024).

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Important improvements in Ethereum update

• EIP-2537: Improve cryptographic operations.
• EIP-3074: Added features like wallet smart contracts.
• EIP-6110 and EIP-7251: Improve validator operations and increase system scalability.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on  Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn  Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime. 

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.