It is a rather specialized topic, but the downfall of Bitcoin has actually become worldwide news for the past few years now. From its ridiculous value to how Elon Musk affects its prices through a single tweet, Bitcoin has become a sort divisive poster child. Apart from Bitcoin, Elon Musk’s less than 200 character words also inevitably swayed other “altcoins” like dogecoin and ethereum. However, the fate of Bitcoin and other cryptocurrencies changed in a blink of an eye. So, how are cryptocurrencies this month? Would it be a good idea to buy now?

Unfortunately, relatively speaking, Bitcoin has been all the rave for a few weeks now. For those who were hoping that Bitcoin might hit that ever aspired $40,000 price, unfortunately, Bitcoin still remains in the $38,000 mark. The good thing is that there is at least a light at the end of the crypto tunnel. You might find it nice to know that there are less deposits now and an increase in the amassing of the said cryptocurrency. Looks like the biggest crypto right now will finally experience some much needed stability after a while. On the other hand, if you do not want to look at your Bitcoins right now, altcoins are the way to go.

cryptocurrency prices of cryptocurrencies are altcoins. And why have we only been talking about Bitcoin? Well, it is pretty simple actually. Altcoins are basically any cryptocurrency that is not Bitcoin. dogecoin cryptocurrency of dogecoin, Fluity, and Binance are all well-known altcoins. The altcoin that is currently surging is Polygon’s MATIC. With its v-shaped recovery and 1.4% increase, it is really seeing some light. This good performance is led by the fact that Polygon has announced the launch of its very own SDK Stack that enables developers to channel their own Ethereum-connected blockchains. From $1.51, it is enjoying a high of $2.44. This surge did not just randomly come though because a lot of clues are pointing towards the fact that MATIC has truly been performing with a lot of stability for quite some time already. Based on VORTECS, an cryptocurrency algorithm data comparison site, MATIC has actually been in a performing relatively well for a few weeks now. It also even registered a high of 94 and a 50% increase in price in consecutive days.

Other altcoins which are also soaring in number include Skale Network sitting at an 89% increase, Enjin Coin that is rallying at 67%, and Origin Protol with 53%. In the cryptocurrency market, Bitcoin still reigns as king with a dominance of 42.5% from a total of $1.7 trillion worth of market capitalization.

So, is it a good idea to invest in cryptocurrencies especially right now? Actually, there is no right or wrong answer. Cryptocurrency investment is definitely not for the faint of heart so we suggest excessive studying before anything else. There is a lot of potential in cryptocurrency and depending on your actions, it could either be the best or worst thing you will ever do.