Last week we covered Bitcoin’s (BTC) big bounce into $8,000 territory.
As of now, things are still looking up, but that doesn’t mean BTC is the only way for investors to benefit from this recent surge.
Other tokens, like Ethereum (ETH) and Litecoin (LTC), are known for mimicking movements of the world’s #1 cryptocurrency.
So why settle for profits from just Bitcoin when you can buy-in to multiple digital coins and DOUBLE UP on the gains at hand?
Here’s a closer look at a couple of the better performing cryptos in the ranks and how you can use them to replace or multiply your earnings from this sector of the market.
Bitcoin is in a good spot right now. Not even two weeks ago, shares were valued at the higher-end of $5 grand. Since then, BTC price points have climbed up to $8,354!
If you were lucky enough to ride the wave of this increase so far, there’s no doubt you took home some solid returns.
But even if you’re late to the game, there’s no need to beat yourself up about what you may have missed out on.
In terms of technical analysis, this rally seems to be far from over!
If you look at the chart below for Greyscale Bitcoin Trust (GBTC), which traces the overall performance of Bitcoin, you’ll notice that shares have just formed a golden cross.
Without getting bogged down in all the details, just know that this is an instance where the 50 day moving average (blue) crosses ABOVE the 200 day moving average (red).
It’s a bullish indication to say the least and it gives analysts, such as myself, every reason to believe the uptrend before us has much more fuel left in the tank.
Maybe you’ve been burnt by Bitcoin’s in the past and want nothing to do with another round of trades. Fair enough.
Understand that BTC isn’t you’re only option for making the most out of this price hike though…
As I mentioned before, Ethereum and Litecoin are alternatives to Bitcoin that have essentially always followed in its footsteps.
Right before this crypto comeback really took off, Litecoin shares were close to $80 and change. Since then, we’ve seen them reach $107.
That’s about 40% worth of profits and it happened in just under a week!
As for Ethereum, investors have essentially reeled in the same returns.
It just goes to show that BTC isn’t the only way to earn cash from crypto…
If you’re sick and tired of Bitcoin, feel free to hop in Ethereum or Litecoin as a way to take advantage of this ongoing increase in the market.
And if you’ve already bought into BTC, adding LTC or ETH or both into the mix could mean more money in the end.
We’ve already seen 40%+ gains from each of these digital coins.
That means purchasing a piece of both the tokens listed here would’ve almost DOUBLED your original investment so far!
Keep this in mind as you continue to play the market and realize that there’s more to cryptocurrency than just Bitcoin.
