Cryptocurrencies have just entered their eleventh year since the first cryptocurrency Bitcoin was launched, taking the global economic arena in a blow. Although the virtual currency space has seen plenty of significant surges and falls, there’s one thing that’s for sure, and that is cryptocurrencies are here to stay and rule the future. Earlier, people failed to understand the concept of working behind cryptocurrencies and so restrained themselves from making investments. With the passage of time, mindsets changed, innovations and developments took over the industry, and in no time, cryptocurrencies were all over the place.
With the world entering a new decade, predictions and speculations have flooded the marketspace depicting new opportunities, both positive and negative, for cryptocurrencies. A good investor always looks for cryptocurrencies that boast of a high market capitalization rate. The rate reflects that a huge volume of the crypto coins is participating in real transactions implying enhanced investors’ interest in the currency. Also, it is advisable to opt for cryptocurrencies that have a high liquidity level so that they can be sold off in the market at the prevailing rates conveniently. If you are someone who is planning to try their luck in virtual currencies this year, then need not worry as we are at your rescue. This informative article will give you the details about the digital currencies which are worth your investment in 2020. Have a look at the top-rated cryptocurrencies list given below to make informed decisions.
Bitcoin takes pride in being the pioneer of cryptocurrencies as it was the world’s first virtual currency. Bitcoin is currently rolling at a price of $6,657.26. As we are well-aware that in May 2020, Bitcoin will undergo halving because of which the amount of the reward will be slashed from 12.5 to 6.25 for each verified block. It is speculated that similar to the 2016 halving event, this year’s event will also boost up the value of Bitcoin in the market. BTC is also likely to bring the dominance index to 65-70% in comparison to other altcoins. In such a case, BTC will evolve as the cryptocurrency with the largest market capitalization. The infusion of Lightning Network will enhance the implementation area of Bitcoin to more DApps, micropayments, and e-commerce platforms.
Ethereum is considered to be one of the strongest cryptocurrencies after Bitcoin and is presently trading for a value of $136.90. It uses smart contracts and is quite popular as a secured solution for an array of businesses. It is predicted that the value of ETH might increase in the coming months because of the surge in the popularity of its blockchain excellence and revolutionary services instead of depending on the deficit of the asset like BTC. The upcoming fork updates and quick implementation of the Proof-of-stake algorithm are likely to boost the adoption rate of ETH.
Litecoin is a popular altcoin and is prominently known for introducing the industry with revolutionary technology of the SegWit protocol upgrade. The coin gained momentum after the infusion of the Lightning Network. The Litecoin halving in August 2019, gave a boost to the price value of the coin; however, soon towards the closing months, the price dropped significantly. The users can make an investment in Litecoin as the coin has always shown a steady growth/fall in the past and is likely to follow the same trend in 2020 as well. Its current price is $39.51.
Dash is one of the most secure and trustworthy cryptocurrency coins available in the market. Its exceptional capability has made it outreach to some of the biggest markets in the world. The DAO-based funding mechanism of its curator firm assures community satisfaction and highlights the firm’s core objectives roadmap transparently. It is widely used by the top-rated exchanges around the world, which makes it a hot-shot trustable solution for the investors in all aspects. The team hopes to achieve the $200-300 mark in 2020. It is currently trading for a value of $68.27.
Ripple (XRP) is widely known for its unprecedented access to the banking sector through strategic partnerships with the ruling financial market players. However, speculations suggest that the investors need not expect huge profits from XRP in 2020 as the price is unlikely to rise above 0.7 USD in the coming years. The coin is good for long-term investments and can be put to use for that purpose. Its current price is $0.1760.
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Investment in cryptocurrencies involves high risk as these digital currencies are highly dynamic in nature. The price fluctuations happen every now and then and can often cost you significant gain or loss just in no time. An in-depth analysis of the market trends and price value fluctuations can help you keep the risk of incurring losses at bay. This article enriched you with the statistics of five potential cryptocurrencies of 2020. So, scrutinize the information and start making investments.