Best Cryptocurrencies To Invest in 2021
What will happen in the crypto market in spring 2021?
According to some indisputable views from Reddit, “it will definitely go up, down or sideways” and you should “just consult your crystal ball”. All joking aside, 2021 has already proved to be another big year for the crypto market with numerous drivers contributing to further adoption of digital currencies after the economic turmoil of 2020.
So, what are the top 3 cryptocurrencies to invest in? While the world is still fighting the coronavirus and its economic consequences, traditional financial assets lose their credibility and digital coins gain popularity among big institutional investors.
With Bitcoin crashing its all-time highs, it’s hard to disagree with Meltem Demirors from CoinShares saying that “the best time to invest in Bitcoin was yesterday”. Still, bullish investors believe that the recent high of $58,400 is far from the potential maximum, giving hope to everyone ready to join the Bitcoin rally.
However, if you are getting sick of Bitcoin dominance, you can clap your eyes on much younger and cheaper coins with a huge potential to be good crypto investments for spring 2021, such as Dogecoin and Polkadot.
Best cryptocurrencies to invest in spring 2021
The list of most valuable cryptocurrencies can’t start with anything but Bitcoin. In the course of two months since the beginning of the year the Bitcoin rallied from $28,900 in January 2021 to the record high of $58,400 on February 21, 2021.
According to the latest Bitcoin price analysis, the BTC is poised for new all-time highs, as most technical indicators show that bulls have the upper hand. The flagship cryptocurrency is fluctuating on the verge of climbing to $60,000.
After it’s major recovery from the latest dip of $43,000 from February 28, 2021, BTC managed to pull back and break through a resistance trendline formed at $51,700. The bellwether cryptocurrency should secure higher support above $54,000 to add credibility to the expected bullish rally to $60,000.
An unprecedented Bitcoin performance, pushing the cryptocurrency past $1trn in market value, could be attributed to the increased adoption of the cryptocurrency by strong institutional investors, including Elon Musk’s Tesla, MicroStrategy, Square and PayPal. Investing in billions worth of Bitcoin, these companies ignited a chain reaction, making other market players view Bitcoin as a viable reserve asset and one of the best cryptos to invest in.
Bitcoin has already surged above never-seen-before highs lately. However, how high can it surge by the end of 2021? According to Anthony Pompliano from the digital asset hedge fund Morgan Creek Digital: “I’ve held a price target of $100,000 per Bitcoin by the end of 2021 since I publicly wrote about it in 2019. I’m sticking with that.”
Anthony Scaramucci, founder of SkyBridge Capital, shared this view and predicted that BTC would hit $100,000 by the year end, explaining his price target as “just a supply and demand situation”, referring to the growing demand from institutional investors and limited supply of the asset.
Dogecoin: from a meme legend to the best performing crypto around
Lately, Dogecoin has been one of the best coins to invest in, showing unbelievable performance. Having attracted the attention of famous individuals, including Elon Musk, Gene Simmons and Snoop Dogg, Dogecoin is expected to climb up to $1 towards the end of 2021.
The meme cryptocurrency started the year at $0.050 and skyrocketed to its recent high of $0.0838 on February 7, 2021, showing a significant surge of 67 per cent.
The most recent Doge-related engagement came from Mark Cuban, the owner of the famous basketball club Dallas Mavericks. The billionaire and his NBA team announced that they accept Dogecoin payments for game tickets.
A couple of days later Mark Cuban shared that they got over 20,000 DOGE in transactions, which makes them “the largest Dogecoin merchant in the world”.
The @dallasmavs have done more than 20,000 #Dogecoin in transactions, making us the LARGEST #DOGECOIN MERCHANT IN THE WORLD ! We thank all of you and can only say that if we sell another 6,556,000,000 #DOGECOIN worth of Mavs merch, #dogecoin will DEFINITELY HIT $1 !!!Mark Cuban