Cryptocurrencies That Are Likely To End The Year On a Good Note
Thanks to an excruciating pain caused by the COVID-19 Pandemic, many financial instruments and economies are seeing a down-trend in their growth this year.
With many businesses expected to shut down completely after the end of this unexpected global health problem, financial and economic instruments have become signs of doom and monetary destruction.
Fortunately, the cryptocurrency market seems to be one of the least affected financial markets in these days of Coronavirus.
Despite the fact that the market took a strong hit in the early days of the virus with the lead coin, bitcoin hitting a long-time low of around 4,000 USD, the story is different today.
The current trends on the cryptocurrency market present a strong statement for everyone who believes in bitcoin and other alternative cryptocurrencies, especially in these disturbing moments.
In this article, we shall look at some cryptocurrencies that are likely to complete the year on a good note, based on their performance this year and what they’ve been able to achieve in the preceding years.
The mother of all cryptocurrencies is definitely set to break boundaries this year and make waves as it did in 2017.
With demands for bitcoin getting higher and higher by the day and the need to reduce physical contacts with people all over the world reaching an all-time peak, bitcoin is set for a major rise.
Since 2017, it has been observed that after the first half of the year and towards the end of the last quarter, demand for bitcoin becomes very high and just a few weeks into the Christmas festivities, the crypto asset sails to a year-to-date high.
Coupling these two situations and the current price of bitcoin, we are sure to expect that bitcoin gets to an all-time high towards the end of this year.
Forbes predicted earlier that bitcoin could end the year around 50,000 USD which currently looks more like a dream than a reality.
We, on the other hand, thinks 20,000 USD as a new all-time high is a good bargain for the world’s most expensive and first cryptocurrency.
If you have any amount of money you do not intend to spend before the end of this year, the right place to invest that money is in Ripples.
Ripples have a payment background which makes it more suitable for the situation in which the world finds itself.
More interesting is the fact that Ripples has partnered with Moneygram to make sending and receiving funds very easy and affordable.
Currently, Ripples is trading at around 0.20 USD. Now, anytime ripples drop this low to 0.20 USD and are able to beat the resistance above 0.25 USD, it goes for a major spike.
Expectations are that as the demand for ripples grows towards the end of the year and it beats the resistance, steady growth in bitcoin price is likely to grow Ripples to 2 USD by the end of the year.
So to anyone who may invest in Ripples at this point, they may be looking at a profit of 1.80 USD per coin. Which translates to 900% profit by the end of the year.
So all things being equal and with this prediction coming to pass, anyone who invests 200 USD in Ripples at this point would be word 1,800 USD by the end of the year.
This may not be a regular name to newbies in the cryptocurrency industry.
Gurus in the industry, however, know how important this asset is to their portfolio.
Once upon a time, the crypto world craved a perfectly secure and private asset which can harness the use of cryptocurrency privately without the possibility of it being traced back to the owner.
Then came the answer by way of Zcash.
With security and privacy becoming a top priority for businesses and individuals across the globe especially in this year, it is important to note that this may be the year for Zcash.
For a coin priced at 45.81 USD at the time of writing this article, Zcash has very strong potentials that are likely to make it hit a projected end-of-year price nearing 100 USD.
That’s to say we are projecting a more than 100% increase in the price of Zcash by the time this year ends.
So, if you invest 500 USD in Zcash now, you are likely to have 1000 USD at the end of the year.
A year or two after its crazy hype and shout for max adoption, Electroneum has almost lost its glitz and glamour.
Fortunately, Richard Ellis and his team seem to be doing lots of works behind the scenes. Following the coronavirus outbreak, Electroneum has seen some steady growth, currently trading at 0.008 USD per coin which has become a new high since 2018.
Electroneum has made some major collaborations this year and is hoping to capitalize on that and its quest for global adoption to go crazy by the end of the year.
If previous trends are anything to go by in addition to the current look of the charts, then Electroneum (ETN) could end this year as one of the biggest gainers.
We expecting a year-closing price of around 0.30 USD per ETN coin.
Which means, if you buy an electroneum coin now, by the end of this year, you should be expecting to make 0.292 USD per coin.
This translates into 3,650% growth.
As I always say, investments are very risky whether it is an investment in cryptocurrencies or money funds.
Therefore, you are the best person to decide which assets you want to invest in. We do not provide any form of financial advice to you in terms of investing or not investing.
Prices given here in this article are purely based on speculations and trends from past years – which may be entirely wrong or right.
However, the cryptocurrency market is definitely bound to experience some important growths by the end of this year.
If you have other thoughts concerning this topic, kindly share them with us in the comment box below.