Over the last few years, cryptocurrencies have made a mark in the digital sphere. The growth has been fueled by their security features as a medium of exchange. If you are looking for the best cryptocurrency to invest in, here is an all-inclusive guide to aid in your investment decision.
Bitcoin is still the king in the world of digital currency. In fact, its price has outperformed most investment vehicles. Having climbed above the $5,500 mark this month, the bulls can confidently see the $6,000 mark in sight. Other than that, the relative strength index (RSI) is showing positive signs as long as the price remains above $5400 level. According to market analysts, the $6,800 level could be tested in the long-term. It’s good to take into consideration that this cryptocurrency has the most merchants. Most importantly, it has enjoyed more than 180 percent market growth in 2017. Although many people are hesitant to invest in Bitcoin due to the high price, it’s still worth investing because the price will definitely not stop there.
This is the closest rival to bitcoin. The response to this digital currency is phenomenal thanks to the brilliant team and the powerful platform. At the moment, a lot of innovation is being done to create a network effect. Since Ethereum represents the professional image, it has attracted the eyes of the investors, politicians, banks and consumers. While it may not be enjoying the massive strikes, it’s one of the most stable digital currencies out there. If you are looking for a long-term investment, you just need to follow the trend.
This is the best digital currency to invest in if you are a risk-averse investor. Over the years, Ripple has been successful in adopting big banks like CIBC and RBC into their system. It’s expected that these banks will be transferring their funds through Ripples gateway. When we look at the current trend, this is definitely the best time to invest. In fact, the digital currency is mimicking Bitcoin in its early days. Despite its frequent ups and downs, the bulls will dominate the market. In terms of market cap, there is still a green light. According to the creator, only 50 million coins will be out for public circulation. If you missed the early wagon of Ethereum or Bitcoin, you can still catch the ripple train.
Forget about gold or the stock market, digital currencies offer the biggest opportunities for an investor out there. While all the above cryptocurrencies have shown a huge potential for growth, Bitcoin still remains the best cryptocurrency to invest in.