The world economy has taken a bad hit due to the novel coronavirus or COVID-19 pandemic. Businesses are either folding up or laying off employees, while some have to make significant and costly changes in their structure to adapt to the new normal of contactless transactions. Indeed, no one is completely spared from the tremendous impact of the pandemic.
In the cryptocurrency space, trading also slowed in the second week of March 2020 when the World Health Organization (WHO) had finally classified the health crisis as a pandemic. At the time, the price value of Bitcoin was slashed to as much as 50%.
Yet, it didn’t take long for Bitcoin and other cryptocurrencies to bounce back. At best, the pandemic has shown that cash isn’t the safest or most profitable investment, with its value suffering a great deal as a result of the global recession. Cryptos continue to attract investors who want to have a good head start in building their assets as early as now.
If you follow the latest Bitcoin SV news, you’ll see that cryptocurrencies are once again increasing in value at a steady pace.
Considered as the future of finance, cryptocurrencies have the vote of confidence of investors who are optimistic that they can easily reap the rewards of their investment, as prices are expected to rise in the post-pandemic future.
With that said, you may want to consider investing in cryptocurrencies, too. Although every altcoin is worth investing in, some have been performing much better than others.
Top 6 Cryptocurrencies to Invest in Right Now
Here’s a fearless forecast on which cryptocurrencies have the strongest potential to add value to your investment portfolio and why you should invest in them right now.
Bitcoin Satoshi’s Vision or BSV was established in November 2018 after its split from Bitcoin Cash (BCH) blockchain. BCH happens to also be a split (also known as a “fork” in the cryptocurrency universe) from Bitcoin (BTC), the first decentralized cryptocurrency.
BSV differs from BCH and BTC in a couple of ways. With BSV, block size caps are at 2GB, compared with BTC’s 1MB and BCH’s 8MB, which means that BSV’s blockchain can support more transactions and that miners will earn more in transaction fees. By improving current limitations in the BTC and BCH blockchains, BSV offers more usefulness to the crypto community.
In terms of Bitcoin SV performance, the outlook is positive through and through. From March 2019 to March 2020, BSV registered a +147.50% increase in value. This is almost three times more than the value posted by BTC.
BSV also beat gold’s value with a return on investment (ROI) that’s seven times higher. BSV also has the 8th largest market cap in the industry, which is worth approximately $3.5 billion. These are good indicators of BSV’s long-term value in the world of digital tokens.
Ethererum/Ether (ETH) has a market cap worth $43 billion and has consistently been one of the best-performing assets in crypto trading. Its blockchain is famous in the crypto world for enabling developers to create smart contracts, as well as decentralized applications (dapps).
The price of ETH stands at $385, and experts predict that it will continue to have a good showing for the rest of 2020 due to its decision to change the nature of its network from Proof of Work (PoW) to Proof of Stake (PoS).
This shift is vital for investors since they can leverage stake—which refers to the number of coins investors have as they try to mine a particular blockchain—to generate more cryptocurrencies.
Aside from being the top 3 cryptocurrencies with the largest market cap, Ripple (XRP) also has a robust network that makes it a good investment candidate. Its structure is also designed to support today’s hottest industries, such as e-commerce, as well as traditional and timeless industries, such as banking and finance.
In fact, money remittance chain MoneyGram utilizes Ripple as one of its blockchain-based payment systems. As such, you can expect other companies to follow suit and utilize Ripple’s network, making it an investment to watch out for.
Litecoin (LTC) is one of the most affordable and fastest growing cryptocurrencies in the industry today. With a market cap of $3.7 billion, Litecoin deserves a spot in the list of best investments for cryptocurrency users.
Litecoin’s potential as an ideal investment asset not only comes from its reasonable price level (its current price per unit is $57) but also its technology-strong profile. Already, LTC is on its way to becoming available in regular ATMs in South Korea in partnership with SK’s first blockchain company, MeconCash.
Stellar was established in 2014 with 100 billion tokens called Lumens or XLM. Its price is very affordable at less than a dollar, but its credentials are quite impressive. For one, Stellar has an open-source, decentralized network that’s useful for cross-border transactions.
Stellar also has lofty goals, which include replacing the current SWIFT system—one of the most commonly used platforms for money transfer transactions—that can help scale the digital money market globally.
Neo first launched under the Antshares brand in 2014 and now ranks 20th in terms of market cap, which is approximately $1.2 billion.
An open-source, community-driven platform founded in Shanghai by Da HongFei and Erik Zhang, Neo is a strong player in using blockchain technology to help investors manage their assets through smart contracts in many different languages. Its cryptocurrency initiatives have already resulted in partnerships with big names like Alibaba and Microsoft.
Every year, Neo releases 15 million tokens, with each unit costing about $17. A Neo token used to sell for only $7.50, so the price increase signals growing popularity and increasing value while still being affordable for most portfolios.
Investing in Cryptocurrency during Critical Times: Yay or Nay?
No question about it, cryptocurrencies are growing at record-breaking speed. This fast-growing industry has caught the attention of forward-looking investors, so it may be worth a try to invest in cryptos yourself. By doing so, you can make money and grow your wealth despite the times being extra difficult, no thanks to the COVID-19 crisis.
About the Author
Kimmy is an experienced content writer with a demonstrated history of working in the internet industry. When she is not writing, she spends time outdoors with her dogs or crochets.