Investing in cryptocurrencies is beneficial, but one must find the best coin to invest, at the right time to make the most profits. 2020 so far has been an exciting year for cryptocurrency traders and enthusiasts as volatility has come to the fore. There are many factors, but two of them have had an impact on cryptocurrencies in 2020; bitcoin halving and the coronavirus pandemic.
According to experts, 2020 is the right year to invest in cryptocurrencies. The cryptocurrency expert and the famous YouTuber Ivan On Tech lately has been mentioning on his live streams on YouTube that now is the time to invest in cryptocurrencies as they are going through a unique time. Just recently he tweeted describing cryptocurrencies as “land of opportunity”.
If you are someone who wants to invest in cryptocurrencies but not sure which one you should invest in, here are the top five cryptocurrencies to invest in 2020. In case you want to invest automatically and trade in the Bitcoin BitQT APP team has a platform that has helped people over the years, making trading easier and successful. Profits are not easy, what makes BitQT-APP perfect trading bot is that it doesn’t allow you to lose money as it has stop limits even when the market is going down, which makes it perfect in both cases.
Talking about cryptocurrencies and not mentioning Bitcoin is impossible. Bitcoin is the King, the one which everything started with, in 2009. Throughout its history of existence, Bitcoin has experienced ups and downs, but it has always remained on top, and no other cryptocurrency has been able to surpass it. Bitcoin experienced its highest price in 2017 during the cryptocurrency boom, where it reached $20.000. But, just recently it went down to $4000 due to the coronavirus pandemic. Then it climbed back up quickly, and at the time of writing the price of Bitcoin is just above $12.200 according to coinmarketcap. Since Bitcoin halving has happened this year, experts believe that we are going through a bull market where nobody can accurately predict what price will Bitcoin reach.
2. Ethereum (ETC)
Ethereum is the second-largest cryptocurrency, and it is known for its loyal supporters. Ethereum blockchain is one of the most tremendous investments in cryptocurrency space as it is the first major project to introduce smart contracts. Thus, allowing developers to launch desktop and decentralized mobile applications (dApps) on the back of blockchain technology and has remained one of the top ten cryptocurrencies in 2020. Recently Ethereum hit its 2-year high at $430, and it keeps sitting above $400, but crypto enthusiasts expect it to break the $450 resistance soon.
3. Litecoin (LTC)
Litecoin is just a smaller version of Bitcoin. But investing in Litecoin this year might be a good idea since the coin has high liquidity and a large market cap. Despite the intense competition, Litecoin has remained one of the most trusted cryptocurrencies in 2020. Furthermore, Litecoin is one of the top four cryptocurrencies in Coinbase, meaning that whatever occurs in the future, Litecoin will remain one of the strongest altcoins out there. And, on top of these factors, Litecoin’s MimbleWimble upgrade is set to heighten the scalability and privacy of the world’s seventh-largest cryptocurrency in terms of market cap.
4. Cardano (ADA)
Cardano might not have a significant reputation, but it surely is one of the most promising cryptocurrencies out there. And, it goes beyond just being a cryptocurrency as it also is a technological platform that will be able to control financial applications currently used every day by individuals, organizations, and governments all around the world. Cardano has a strong community of tech-forward people, and it has partnered with the University of Malta to offer multiple courses on the programming languages used within the Cardano network. The cryptocurrency has been one of the best performers in 2020, gaining 85% of its value just in the first ten days of July. Moreover, technical indicators support the bullish momentum for ADA.
5. Chainlink (LINK)
It seems like if you don’t already own Chainlink, you should buy some. The cryptocurrency is supported rigorously by its creators, and it has been performing well so far this year. Chainlink is a Defi-related token, and it verifies real-world data used within blockchain-based smart contracts and bridges the gap between these smart contracts and real-world off-chain applications. Chainlink gained main recognition in 2019 when Google cloud presented it and at the time of writing it is performing at its all-time high just above $18.00.
There are more than 6000 cryptocurrencies and nobody can exactly predict the future of cryptocurrencies but picking the right one to invest is crucial when it comes to making profits. It might be more of a personal choice when choosing a coin to invest in, but it is always good to stay informed and follow the price movements. If you want to make wealth from cryptocurrencies, you must always be aware and up to date, BITQT-App is a good option to go with.