Crypto Market: These Cryptocurrencies Are The Best Assets To Buy Now
The recent crypto market rally has pushed many crypto coins to higher price levels.
The crypto market has had an interesting 2020. In all the chaos in the world markets, cryptocurrencies have managed to endure. In fact, cryptocurrencies outperformed every single traditional asset and investment by a mile.
The crypto market did go through a rough patch as well, but most have recovered spectacularly, recouping their losses and, in some cases reaching record-breaking highs. However, since the market is going through a slight correction period right, now is as good a time as any to enter this space.
That’s why we have put together a list of the best cryptocurrency assets for you to consider.
So, without further ado,
The Top 3 Best Cryptocurrency Assets to Consider Buying:
So, which cryptocurrencies are the best in the current market situation? There are three that come to mind, and various factors are the best crypto assets that you can get your hands on.
1. Bitcoin - BTC Is The Best Crypto To Buy Right Now
No cryptocurrency list is complete without Bitcoin. Bitcoin, the best crypto asset to buy, endured a rough start to 2020 with a drop in valuation. Bitcoin had faced significant downturns in 2013 and 2017, but this downturn was different because it resulted from a bear market.
Something that Bitcoin had never encountered before. Investors sold off their equities and moved to cash. Experts and investors watched to see how Bitcoin would react. Bitcoin reached its lowest point in March when it fell to $4721. Bitcoin posted a stunning recovery that saw the cryptocurrency reach its highest ever valuation in January 2021.
Many experts have predicted a bull run for Bitcoin in 2021. What are the factors behind this? Let's take a look.
There is increasing institutional interest in Bitcoin, evidence of which was seen in March itself. There is a belief among experts that institutional interest will be a big driver in Bitcoin price. The numbers also don't lie. Coinbase reported an increase in its institutional asset base from $6 billion to $20 billion, which is just in 2020.
JPMorgan Chase's JPM coin going live and MassMutual announcing the purchase of $100 million in Bitcoin are just a couple of announcements that show just how much interest Bitcoin is generating. Bitcoin also sees mass adoption as a payment mode, thanks to platforms like PayPal, which announced that users of the platform could buy, sell and make purchases using Bitcoin. This opens up a vast market for Bitcoin.
Some investors and experts have predicted that Bitcoin could touch $100,000 by the end of 2021 and could also reach $300,000 by the end of 2022. This is an excellent opportunity to invest in Bitcoin and reap record-breaking profits.
Read More: Bitcoin Price Prediction Forecast
2. Ethereum - ETH Is the Best DeFi Crypto To Buy Right Now
Ethereum is the DeFi king. It is the second-largest cryptocurrency and one od the best crypto asset to consider after Bitcoin and also its closest competitor. Since its release, Ethereum has seen considerable growth and has seen the influx of several next-generation DeFi projects on its platform. Several companies and institutions have made Ethereum their platform of choice for their DeFi projects.
Experts believe the two factors will drive Ethereum's value. The growth of DeFi and Ethereum 2.0. Ethereum's current market capitalization stands at almost $138 billion, and Ethereum is coming off a very strong year. Ethereum is integral to the DeFi space, with the platform being the go-to platform for new DeFi projects.
2020 saw DeFi grow exponentially, leading to many experts calling it the year of DeFi. With the growth of DeFi, Ethereum stands to gain the most, which can and will drive up the value of Ethereum. The second factor that will positively affect the value of Etheruem is Ethereum 2.0
Ethereum 2.0 is seen as a game-changer for Ethereum. It promises to address the issues that Ethereum currently faces regarding scalability, enabling the platform to handle more transactions per second than it is currently able to. Ethereum 2.0 also sees Ethereum move from a Proof-of-Work consensus mechanism to a Proof-of-Stake consensus mechanism.
Ethereum 2.0 creates an increase in the demand for Ethereum thanks to faster processing speeds, a decrease in costs, and an increase in overall utility.
Read Also: What is Ethereum? A Beginner’s Guide
3. Cardano - ADA Is The Best Dark Horse Crypto To Buy Right Now
Cardano is another cryptocurrency asset that investors should be looking at in the short and long-term.
Cardano, like Ethereum, is a smart contract platform. Often described as a third-generation cryptocurrency that solves the scalability issues that first and second-generation currencies like Bitcoin suffer from.
Cardano offers better scalability through its layered architecture and is the first peer-reviewed cryptocurrency. The Cardano Foundation has protocols reviewed by scientists and academics from Universities like the University of Edinburgh and the Tokyo Institute of Technology.
Cardano has a stellar team backing it. The platform was founded by Charles Hoskinson, who also worked with Vitalik Buterin at Ethereum. After going their separate ways, Hoskinson teamed up with Ethereum co-founder Jeremy Wood and set up Input Output Hong Kong (IOHK), the company behind Cardano.
Cardano uses Ouroboros, a Proof-of-Stake consensus mechanism that guarantees the protocol's integrity, performance, and longevity through the application of combinatorics, cryptography, and mathematical game theory. The team and the technology behind Cardano is a good enough reason for investors to buy Cardano.
But there's more. After the Shelly update, the team at Cardano set about working on Goguen. Goguen will unlock smart contract functionality, and Cardano has focused all its energy on it since Shelly's launch. Goguen will make Cardano more accessible by allowing individuals who have no technical knowledge to make smart contracts.
The platform will also see an improvement in Cardano's offerings, like the addition of a multi-currency ledger. The multi-currency ledger will allow users to create natively supported tokens. These sweeping changes will vastly improve Cardano and, as a result, drive up its value, which is why this is the perfect time to buy Cardano.
To conclude, there are several other cryptocurrencies that you can look at to invest in. All cryptocurrencies are experiencing a bull run, and it is expected to continue in 2021. However, the three discussed above offer the most long-term potential among cryptocurrencies and should be the ones investors should look at if they want to enter the market.
Read More: Cardano Price Prediction Forecast
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Virtual currencies are highly volatile. Your capital is at risk.