How should you plan your 2021 investment strategy?
Getting through the news and not reading about the daily crypto news is not possible anymore. Even the unbelievers and the haters have to talk about it. Bitcoin rose 67000 dollars at some point, and even today, at a price point of 38000 dollars, it’s dominating the financial markets with a near 900-billion-dollar market cap. That’s more than what most companies are worth in Nasdaq and New York Stock Exchange, and this is just one crypto. Ethereum, Binance, and Tether are the runner ups each being worth more than the other.
So crypto is inevitable, but the recent crash, along with government interventions, is affecting how people think about crypto. We’ve seen hypes and quick disbeliefs in the cryptocurrency industry for years. We’ve seen people who dump quickly and people who will never sell, insisting this is the future. But with all of that said and done, what should you do in your crypto investment strategy? Here are our top 4 picks for the best cryptocurrencies to invest in.
If you think that bitcoin is already done with its growth, you couldn’t be more wrong. Historical analysis shows that this is just bitcoin’s behavior to increase and decrease substantially in a moment. You can easily understand this by a quick review that now is just the buy time, so you’ll get to the next hype. This is if you are not a holding person who would wait for years. While being one of the most established cryptos out there, Bitcoin’s technology is not very advanced among all other cryptocurrencies. Transaction speed is deficient, and non confirmations and common; there’s also limited functionality, and high transaction costs are stopping more people from investing. But no shortage of believers would contribute to its future growth.
If you are looking for early growth and huge potential, EOS is the way to go. They raised over 2.5 billion dollars in their ICO, which alone shows how much people trust it and how much they are invested in it. You should know that people will go a long way to protect their investments, especially wealthier people, including those already invested in EOS. These might include endorsements and suggestions. But when it comes to EOS, we don’t care about those; we care about its functionality, user base, and current price.
Tron is important because it’s the main competitor to Ethereum, it’s a smart contract platform that allows for the transfer of value over its blockchain, but because its transaction validators are not miners, Tron offers this at a fraction of the cost compared to the Ethereum blockchain. With the rise of the Ethereum price, transactions are starting to cost over 150 dollars, making it more difficult for everyday users to use it. Tron is offering all of the functionality of the Ethereum blockchain, including its tokens, and that is worth something. And It’s certainly not 8 cents.
Ripple brought banking to the crypto industry by their first product, ripple net. SEC, the American securities regulator, has filed lawsuits against ripple labs, the company behind ripple multiple times, but there hasn’t ever been a loss on ripple’s side. The cryptocurrency started with a value of almost 1 cent, and just a few months ago, it was being traded at 6 cents, but the current price is almost 1 dollar. Ripple has also seen an all-time high of around 3 dollars, so the potential is available while the functionality keeps growing between platforms.
When talking about the value of crypto, we can’t ignore the fact that its derivative is people’s belief and supply and demand. But functionality, transaction speed, and cost are also super important. Crypto was invented for payments, not investment, but in today’s volatile market, follow the strategy above to make some money.
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Bitunivex.com is a regulated Australian cryptocurrency exchange that offers its services globally. Follow our social media on Instagram @BITUNIVEXOFFICIAL Twitter @Bitunivex1, Facebook Bitunivex We have a blog at bitunivex.com/blog with daily updates as well as an exclusive newsletter. Also you can find your answers on our knowledge base here and find relevant articles and FAQs. Finally, if you have any other questions you can raise a ticket here.
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