Bitcoin Is Surging, but Not All Cryptocurrencies Are a Safe Investment. Here Are 3 to Avoid
In the crypto market, a rising tide does not lift all boats.
After a brief decline in March and April, Bitcoin (CRYPTO: BTC) is back. It's now up more than 12% for the year, and hit a new all-time high of $112,000 on May 22. Historically, a rally in Bitcoin has led to a rally across the entire crypto market.
That's the good news. The bad news is that not all cryptocurrencies are going along for the ride. Here are three that I'm avoiding for now.
Even after a stunning 24% rally during the past 30 days, Dogecoin (CRYPTO: DOGE) is still down 33% for the year. And, if you zoom out, things look even more worrisome for Dogecoin.
