The Best Cryptocurrencies To Invest According To Experts
Despite a number of cryptocurrencies reaching or surpassing their 2017 highs this year, many analysts agree that the bull market is only just getting started. For starters, crypto adoption is still in its infancy. Analysts expect that this will begin hitting its full stride at the end of the year. With thousands of cryptocurrencies on offer, investors have it hard to choose which coins to back.
But a few indicators have over the years been enough to determine what tokens have great potential. Market trends and project developments are some of the easiest and most efficient ways to determine where the token and the project it’s powering are headed. Here is a list of the most promising cryptocurrencies in 2021;
Ethereum is one the best performers in 2020, so far. Since the start of the year, the second-largest cryptocurrency has more than doubled in price. At the time of press, it sits above $2,000. Despite accomplishing this much, analysts are convinced that it will continue in the upward trajectory. One key development is expected to have a massive impact on the price.
The Ethereum upgrade is expected to be completed in a few months. The fork to Ethereum 2.0 is highly anticipated. It will see the network improve on scalability and speed. These have long been underlying issues in the network triggering high gas fees and slow transactions. It will further see developers remain in the platform after the switch to competing platforms such as Cardano and Tron in recent years.
According to top analyst Michael van de Poppe, Ethereum could easily end the year between $5,000 and $10,000. At the minimum target of $5,000, the digital asset will have doubled from current levels.
Its NFT dominance is also set to see the network grow and its token value increase. Non-fungible tokens (NFTs) have been viewed as complex developments in traditional art. This new digital art has captured the interest of artists, athletes and even businessmen such as Mark Cuban. Its growth will further see Ethereum become a market leader.
A lot went wrong for XRP at the start of the year. When the SEC went after Ripple the coin was massively sold and delisted from top US-based exchanges. The digital asset has since struggled to keep up with its peers. Many of them have gone on to smash their 2017 record highs while XRP has struggled to get out of its 3-year bear trend. XRP is currently up 870% since March 2020 low.
Recent legal developments around the case against Ripple have suggested that XRP might be ruled not security. If the case is dismissed, experts expect a full-blown rally from the digital asset. One expert who holds this opinion is veteran trader Peter Brandt. The analyst most recently predicted all-time highs for the digital asset in a tweet.
A single court ruling could send it crashing. XRP is a bit of a risky asset for some investors. But the rewards for holding out through the storm could be immense. At the very least, the token is expected to test its 2017 high of $3.84, a more than double price growth from current levels.
Binance Coin (BNB)
Binance Coin has been Q1’s top performer according to data research firm Messari. In the three months, the digital asset has gained around 709%. Powering the biggest cryptocurrency exchange, BNB is set for further gains. The year will see massive crypto adoption, many buying from trusted platforms such as Binance. Equally, traders are taking advantage of price swings and using exchange tokens to reduce trading fees and improve speed.
At current highs and with every surge setting a new high, the token is in price exploration. Changpeng Zhao, CEO of Binance exchange says current lows will be future dips.
Polkadot is set to be a major platform as a “multi-chain network”. Polkadot allows users to conveniently switch between different specialized blockchains.
The Polkadot project is a first of its kind. Numerous experts have hailed it as a potential game-changer. Coming into the limelight just a few months ago, the digital asset has already shaken up the market rankings after climbing to the top ten coins with a market cap of over $30 billion.
Since the turn of the year, Cardano’s ADA has more than doubled in price. The Cardano project is set to become fully decentralized in the weeks to come. Viewed as a third-generation blockchain, it is revolutionary in a number of ways. For starters, as a smart contracts platform, it is set to be more energy-efficient and lower transaction fees. In its rise against rival 2nd generation blockchains such as the current Ethereum network, its price is set to rally.
In addition, it is set to host NFT marketplaces. These are set to push its value as the hot trend continues to shake the world.
It goes without saying that Bitcoin is not done with its upward move. Numerous analysts expect Bitcoin to end the year above $100,000. This means another 40% price surge. Analysts base their case on inflation, institutional demand and growing adoption of the digital asset.