Bitcoin (BTC 0.76%) is down by 24% during the past 12 months, whereas Ethereum (ETH 1.74%) fell by 10% and Cardano (ADA 2.38%) declined by 71% in the same period.

But a steep markdown only matters if the fundamentals suggest a recovery, and on that front, these three are not created equal. Let’s take a look at which two are worth buying with $1,000 while they’re on the inexpensive side, and which one is worth avoiding.

Image source: Getty Images.

1. Bitcoin is chugging along as always

Nothing about Bitcoin’s fundamentals has changed recently, despite its brutal 46% tumble from its all-time high last October.

The biggest new driver of the coin’s scarcity and thus its price, spot Bitcoin exchange-traded funds (ETFs), have attracted more…