The online financial markets are replete with long-existing digital money as well as fast-rising digital currencies as blockchain technology started to operate the crypto market. With the year now on its last quarter leaf, it is high time to determine the best cryptocurrency to invest in.
Despite the bearish market persisting all year long, Bitcoin, along with other digital coins, remains afloat in the financial market. Take a fresher outlook at each crypto coin to find out the soundest cryptocurrency investment in the year-ender.
Old but gold.
This is how Bitcoin is best described these days in light of new names surfacing in the online financial markets. Bitcoin, according to Goldman Sach, is the largest gainer of 2019 among crypto coins and across asset classes, including bonds, stocks, and even gold.
Despite the apparent price volatility throughout the year, and even posting an all-time low since 2017, Bitcoin cost $9,000 in October. In 10 months of 2019, Bitcoin has published more than 150% yield.
Closest to Bitcoin, but still far away, is Ethereum, which has given back 70% yield to its shareholders.
Ethereum’s year-long performance was shaky, though. Its Q2 output was stellar, but it was falling in the last quarter. Ethereum remained in the downward trajectory from July-September. Gaining momentum towards the yearend, Ethereum posted $195 in the first two weeks of October. The launching of its 2.0 version gives Ethereum more boosts, and its Q4 output seems promising.
XRP remains to be the third in the list of the most popular cryptocurrencies on the internet, behind Bitcoin and Ethereum, as XRP’s market capitalization is around $12.5 billion.
In the third quarter, XRP struggled and groped for form, barely made any significant market move. But its 2019 run has been relatively well, earning a $0.05 increase in October.
Litecoin is one of the digital coins that grew popularity in 2019 as it ventured on other sectors, including philanthropy and an NGO collaboration with UNICEF.
While Litecoin remains to be a young currency, its rapid growth in the financial markets online is anticipated by many experts as it continues to perform steadily. Meantime, Litecoin is predicted to retain its $150 to $250 rate and reach its spike price in November.
Binance Coin gained momentum in April 2018, hailed as the largest cryptocurrency exchange desk since its inception in July 2017.
In 2019, Binance Q2 production was its strongest, posting a $60 billion trade volume in June. Towards the second half of 2019, Binance is unlikely to mirror its Q2 strong showing as US traders will be barred by the law to use the Binance crypto exchange. If it comes up with a regulatory compliant platform, Binance will have another solid outing in the last quarter.
Bitcoin remains the safest haven of all digital currencies and is still the most viable asset in the last quarter of the year.