Top 5 Cryptocurrencies to Have in Your Portfolio in 2021
Cryptocurrencies have taken the world by storm. With bitcoin skyrocketing to $ 65,000, many retail investors, as well as institutions, have come aboard. Many new investors are looking forward to investing in crypto but are unsure about which cryptocurrencies to invest in.
Cryptocurrencies are highly volatile and can experience corrections up to 50% within days. The new investor should do thorough research before putting its hard-earned money into the market. To be on the safer side, investing in the top 10 projects by market cap is a lower-risk bet. Here is a list of cryptocurrencies that could explode in the coming years.
If you are thinking bleh! We already know about bitcoin and it won't give that many returns now then just hear me out. The whole crypto market is run by the crypto king bitcoin. If bitcoin crashes, it takes the whole crypto market down with itself. Also, it is the eldest cryptocurrency and is here to stay. Many coins come and just fade away but bitcoin bounces back after every bear cycle. If you are planning to invest a large sum and want to invest in somewhat safer crypto then bitcoin is the gem. Also, in the coming years, we will be seeing its prices hit 6 digit mark, and in the grand scheme of the cycle, bitcoin is racing to a million dollars mark.
Ethereum is a global platform for the creation of smart contracts. It gives developers the ability to build applications in a decentralized manner. Apart from that, ethereum’s blockchain can host other cryptocurrencies over it called tokens. Till now it has hosted over 100,000 tokens and more than 30 of which are in the top 100 by market cap. With so many use cases and immense potential, in this bull cycle, ethereum exploded to 4000$ and can go higher in the coming months. Many experts believe that ethereum can flip bitcoin but that is highly unlikely. In the coming years, ethereum’s prices can go as high as $ 20,000.
The advantage of blockchain projects is that they work on smart contracts which are secure and tamper-proof. A smart contract is a piece of code that executes when the conditions are met. These smart contracts require huge amounts of data to analyze if the conditions are met or not. Chainlink connects these digital agreements with external data feeds to work seamlessly. Chainlink reached its all-time high at $ 52 on May 10. This bull cycle chainlink is expected to reach triple digits.
Polkadot was founded by one of the co-founders of ethereum, Dr. Gavin Wood. Currently, the crypto community is facing issues of interoperability across different blockchains. Polkadot aims to provide seamless data and asset transfer among different blockchains within seconds, building a network of interconnected blockchains. Just like chainlink, Polkadot is also expected to cross the $ 100 mark shortly.
ICP (Internet Computer)
I am extremely bullish on this relatively new cryptocurrency because they are trying to offer decentralized internet. We all know that the internet is centralized in its true form but due to its high complexity, a relatively few tech giants have made a monopoly by giving easy access to the internet and controlling all the data. If ICP succeeds in doing what they plan to do, they can bring tech giants to their knees. Here is a detailed article on ICP (Internet Computer).
The above cryptos are based on my research and understanding. I would advise you to do your research before investing in the market. Also, the above-recommended cryptos are for long-term investments and can take a few years to give significant returns.
Note- Cryptocase is not a financial advisor and the above is not financial advice. The information is solely for educational & informational purposes only. Cryptocase is and shall not be responsible for any profit or loss incurred by you