After Brief Surge, Theta (THETA) Down with the Rest of the Crypto Market
Bitcoin (BTC) fell 3.40% today, bringing it below $43,000 (BTC/USD). Ethereum (ETH) is down as well by 3.84%. Theta (THETA) is taking a bigger hit than these other cryptos, though, dropping 6.67% over the last 24 hours.
That puts Theta just under the $4 mark at $3.95 (THETA/USD), which can actually be a good place for this crypto to hang out for a short while.
Should Investors Buy under the $4 Level?
Theta rarely moves below the $4 level, staying ahead of $5 for most of the last 12 months. So, when it dips below this crucial point, we would advise investors to take note and consider buying the crypto before the price changes too much. Theta is not likely to go much further below $4, if past history is any indication. We understand that the market is going through a rough spot since the end of December, but there is definite opportunity for the price to spike again.
Anyone investing in Theta at this point will want to watch it carefully. We expect Theta to move back past $4 very soon, but there is no guarantee that it will stay there. The market is volatile at this point, as you can see by monitoring Bitcoin’s movement. While that majority crypto has trended down overall since over the last month, it has enjoyed a few high points in that time as well.
Theta is moving on Bitcoin’s impetus, as with most of the crypto market. Some of the smaller, newer cryptos move entirely on their own volition, regardless of the market, but you can essentially predict where Theta is headed in the next hour by seeing what Bitcoin is doing at the time.
Investing in Theta or any crypto is very risky, but Theta has shown its resiliency by staying above the $4 level almost throughout the entire last year. It is a fairly safe bet to buy it at the low price it is at now and expect it to move upwards soon. Because the market is on somewhat of a downturn at the moment, don’t expect it to go too high. Be prepared to sell your Theta tokens off within a few days in order to make a profit. Holding onto it too long can cost you, so you will have to watch it closely.
We don’t consider Theta to be a good long-term investment at this point because of how low it has gone compared to its price a few months ago. Back in September, Theta was above $9, but it has not even moved much above $8 since then.
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