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Following a near-all-time high rally, Bitcoin fell below $16,200 post-Thanksgiving. This was purportedly linked to Chinese authorities retrieving $4.2 billion in cryptocurrencies as part of the Plustoken Ponzi scheme. However, the recent price dip could be viewed as an opportune time to invest in cryptocurrencies. In addition, as investors’ interest in high-flying digital currencies continues to grow, the global cryptocurrency mining market is projected to grow at an 11.5% rate over the next seven years.
Since it’s challenging to choose the best cryptocurrency, we think investors seeking to cash in on the favorable crypto trends in a less risky manner could bet on quality crypto funds Grayscale Bitcoin Trust (GBTC) and Amplify Transformational Data Sharing ETF (BLOK).
