President-elect Donald Trump’s support for cryptocurrency has pushed several digital assets to skyrocket in price since his re-election. His position is solidified with his choice of close associates, including Robert F. Kennedy Jr., Elon Musk and Cantor Fitzgerald CEO Howard Lutnick, who have also been vocal advocates of various cryptocurrencies.
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“It’s no surprise that Dogecoin, Cardano, and XRP have surged over 100%, respectively, so far this November,” said Han Tan, Chief Market Analyst at the global fintech Exinity, just two weeks after the election.
It’s not too late, though, to diversify your portfolio with some exposure to crypto, with the caveat that it remains a risky asset class.
“Despite the ongoing bull run, cryptocurrencies have clearly retained their volatile nature,” Tan said.
He also pointed out that the surge in crypto prices has hinged on Trump’s campaign promises and the president-elect’s enthusiasm for crypto.
“Should markets sense a delay to President Trump’s crypto-friendly plans for the sector, or worse, if he reneges on them, it could prompt a rapid unwinding of crypto’s gains since the November elections,” Tan said.
Rather than timing the market, consider dollar-cost averaging if you intend to add any cryptos to your portfolio. Here are some of the top coins to consider, according to experts.
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Bitcoin
Bitcoin was the original cryptocurrency and remains the most widely recognized and accepted digital asset class. With this in mind, it’s been the focus of potential legislation that could bolster its desirability, versatility and value.
“Trump has spoken about making the U.S. the crypto capital of the world, which could involve increased Bitcoin mining in the US and even a strategic Bitcoin stockpile by the US government,” Tan pointed out.
Ethereum
Bitcoin isn’t the only crypto favorite of the experts. Several recommended Ethereum for its vast potential.
“While Bitcoin often dominates headlines and has led recent rallies, Ethereum stands out as a compelling investment opportunity due to its unique combination of attributes,” said…
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