As Bitcoin surged past an all-time high of $20,000 on Wednesday, the sixteenth of December, 2020, many in the marketplace were ecstatic to see the cryptocurrency leader make another bold statement which did much to silence naysayers who lambasted cryptocurrencies following 2017’s rally. While the market theorizes, forecasts, and disputes Bitcoin’s future, we suggest also studying and investing in a variety of coins that have been historically boosted by Bitcoin surges.
Top 3 Coins to Invest in Now That Bitcoin Surpassed $20,000:
Bitcoin’s closest rival, Ethereum, had a successful run during the month of December 2017, peaking at an all-time high of $1,432.88 just one month following Bitcoin’s historic 2017 surge which culminated in Bitcoin’s previous all-time high of $19,783.21 on December 17th, 2017. Ethereum’s historic price correlation with Bitcoin suggests it has room to grow in the next month. Ethereum is currently on a bullish run following a year-long price increase from $178.35 to today’s price at approximately $656.
Litecoin has been on a bullish run since late March and recently hit its highest price since summer 2019. The alt-coin hit an all-time high of approximately $360 on December 19th, 2017, just two days after Bitcoin’s 2017 surge. Currently, Litecoin sits slightly above $100 which leaves room to flourish if we look retrospectively at 2017. Litecoin has already seen an uptick following Bitcoin’s streak. Finally, Litecoin is one of PayPal’s six hosted currencies and though it did surge 10% following PayPal’s announcement, it seems evident that we are yet to see the actual effects of PayPal’s cryptocurrency adoption.
Binance Coin (BNB)
Though a relatively young currency, Binance Coin has seen stable growth following its inception in 2017. Binance Coin currently sits at approximately $30 and it reached an all-time-high at $39.57 on June 22, 2019. The recommendation to watch this coin closely is particularly based on Binance’s development of traditional banking services utilizing blockchain technology. Of course, Binance has become a behemoth and the largest cryptocurrency exchange in the market within three years. As Bitcoin reaches a new all-time-high and PayPal legitimizes cryptocurrencies in the eyes of every-day consumers, Binance seems set to become cryptocurrency’s largest financial institution in the coming years as widespread adoption of bitcoin continues to unfold.
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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