Top 5 Cryptocurrencies to Invest in 2021; Bitcoin is the Leader - OhNo WTF Crypto

Breaking News

Top 5 Cryptocurrencies to Invest in 2021; Bitcoin is the Leader

#OhNoCrypto

Jan 01, 2021 at 10:57 //

News
Bitcoin will be the leading choice of investors in 2021

It looks like there will be massive adoption of cryptocurrency in 2021 as the COVID-19 pandemic forces people to turn to digital assets. This nascent industry offers great opportunities for gaining profits.

The year 2020 has been a challenging period for the entire cryptocurrency market and digital currency community. Due to the several discouragements from governments and health organizations against the use of traditional money, new and many institutional investors started storing their wealth in cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and many others, and many other people used digital currencies as a hedgerow against the potential economic threats.

Cryptocurrency investments are getting popular

There is hope that blockchain technology, the underlying tool behind cryptocurrency, will be seen as a transformational tool just like the way we see the internet, electricity, artificial intelligence, machine learning, etc. and very soon it will be massively accepted and adopted by global institutions and governments.

In this year, we have seen a couple of giant financial institutions recognizing and appreciating the unmatched potential of blockchain and digital currency. Some of the companies include Fidelity launched a new BTC index fund and it is now being used for high-USD institutional cryptoasset bets on Wall Street; JP Morgan banked in cryptocurrency exchanges like Gemini and Coinbase; we saw PayPal, a payment service provider, rolled out a new service that allows users to trade and hold cryptoassets; other giant payment service providers including Visa and MasterCard started offering services to different cryptocurrencies firms.

For this reason, cryptocurrency investments will likely grow further. 2021 may appear a good year to gain some profits using cryptocurrency. However, traders and investors should know which coin to choose. 

Investors should first consider the following reasons before investing in digital currencies: transparency, minimum investment barrier, liquidity, fees and diversity of asset(s). CoinIdol, a world blockchain news outlet, created an overview of five cryptocurrencies that have favourable forecasts for 2021. 

Bitcoin

Bitcoin (the original cryptocurrency). Experts like Tom Lee, Fundstrat Global Advisors, is optimistic that Bitcoin will substitute gold and it will be massively used to store the value of their wealth and also as a shield against inflation.

Bitcoin has been existing for over a decade. It has exhibited a strong truth among the public. We have seen many cryptocurrencies that have come and gone, but BTC has never disappointed. On December 20, 2020, BTC hit a new record of about $24,209.66 making a year-to-date increase of over 125%.

Currently, BTC/USD is changing hands at around $23,225 with a market cap of $431.52 billion and volume of $53.3 billion. The price trend of BTC is expected to remain steady even in 2021.

Screenshot_2020-12-24_Bitcoin_price_today,_BTC_marketcap,_chart,_and_info_CoinMarketCap.png

BTC will still dominate the cryptoasset market in 2021 and traders will keep on benefiting from high liquidity. All cryptocurrencies are volatile but at least Bitcoin has shown consistency in its growth.

Ethereum

Ethereum (the king of decentralized finance – DeFi) is a preferred blockchain network for DApps (decentralized applications). Ether has the potential to significantly change the loans, insurance, smart contracts plus savings programs hence setting them free from the monitoring of banks and other regulators;

Ethereum that was created in 2014 is the most influential coin in the industry. This is because Ethereum allows users to build their DApps on its blockchain. It is labelled by many as a network focusing on revolutionizing DeFi. 

The popularity of DeFi products, as well as the Ethereum 2.0 network, say volumes to the industry. More DApps will be rolled out on the network and this will strengthen Ethereum. If the crypto bubble continues, more investors are more likely to pick interests in Ethereum and this will be bullish for ETH coin.

ETH/USD is standing at about $600 with an MC of $65.7 billion and volume of $18.1 billion. In the last 52 weeks, ETH’s high was $673.83 and this mark shows the coin has the potential to rally and surpass its all-time high price of $1432.88 that it hit two years back.

Screenshot_2020-12-24_Ethereum_price_today,_ETH_marketcap,_chart,_and_info_CoinMarketCap.png

The low price of ETH favours new cryptocurrency investors to buy and invest as much as their pockets can allow.

Chainlink

Currently, LINK/USD is standing at $11.4 with an MC of $4.5 billion and volume of $1.4 billion, according to the data by CMC. LINK went live on May 30, last year.

Screenshot_2020-12-28_Chainlink_price_today,_LINK_marketcap,_chart,_and_info_CoinMarketCap.png

Among the global top 20 cryptocurrencies by MC, Chainlink was the best performer in the US dollar markets throughout last year.

ChainLink is a distributed oracle system created on the Ethereum network and the system is built to link off-chain data sources, like bank payments, to on-chain smart contracts. 

LINK is a new giant payment ecosystem. The coin wants to transform transborder payments by making transactions transparent, secure, cheap and instant.

Chainlink is among the top lucrative investments in the industry. LINK's as anticipated, can go high to $22.88 before the end of this year and could touch $32.66 by the end of 2021.

LINK has won the trust of many traditional financial institutions including Barclays bank. More trust will be garnered in 2021. The company wants to be a leader in providing cheap, transborder financing using LINK, hence leading the coin to definitely be among the best digital currencies to invest in 2021.

Litecoin

Litecoin (LTC - a fast and affordable crypto) – LiteBringer, a decentralized LTC-powered RPG fantasy game was rolled out and players started making profits in this game and this led to the surge of LTC’s price to exceed 130k.

The usability and speed of Litecoin are four times faster than BTC hence making sending and receiving payments quicker. Litecoin network is less resource-intensive.

Screenshot_2020-12-24_Litecoin_price_today,_LTC_marketcap,_chart,_and_info_CoinMarketCap.png

Litecoin’s price is now at $104, and its market cap is at $6.883 billion and vol is at $11.994 billion, according to CMC data. Its all-time high is still $375.29 (Dec 19, 2017).

TRON

TRON (the crypto that aims at transforming the cryptocurrency market) -  the growing number of DApps will force the massive use and adoption of TRON especially by people from the entertainment sector and content creators – the coin is largely supported by topnotch partners such as Samsung, Netflix, oBike, Baidu and Baofeng.

Several organizations have started to integrate TRON into their networks, and this has helped the price of TRON to skyrocket.

At press time, TRON is trading at around $0.026186 with an MC of $1.876 billion and volume of $1.1 billion. Its all-time high is $0.300363 (January 5, 2018).

Screenshot_2020-12-24_TRON_price_today,_TRX_marketcap,_chart,_and_info_CoinMarketCap.png

TRON hosts more decentralised applications than Ethereum and this puts TRON in a better position for investment in 2021.

The factors that will contribute to the surge in prices of the aforementioned cryptocurrencies in 2021 include the increasing institutional demand for cryptocurrencies, skyrocketing inflation, surging pessimistic perception of contemporary financial policy, roaming economic recession – all these drivers will make venture capitalists and companies seek refuge in cryptocurrencies. Generally, cryptocurrencies will be the perfect solution and best alternative to store their wealth and protect the value of their capital and investments.



OhNoCryptocurrency via https://www.ohnocrypto.com/ @coinidol.com By Coin Idol, @Khareem Sudlow