London, UK, 3rd Jan 2022, ZEXPRWIRE, B-Finances broker says cryptocurrencies are hot this year! The total market value of all cryptocurrencies in the world has shot up to $2.3 trillion from just under 800 billion at its peak earlier last month, but there’s more where that came from according to currency experts who say we can expect big things over 2021-2022 as well with some projection numbers coming close or even surpassing those seen during last years bull run (which saw chaos).
Here are some of the top currencies to look forward to in this coming year.
Bitcoin’s value has grown exponentially in recent weeks, hitting a new high of nearly $6800. Companies across industries from Tesla and Block (formerly Square) have started accepting bitcoin as legal currency alongside traditional currencies such is happening with El Salvador who became the first country to do so earlier this year drawing interests from other nations considering adopting it too
A look into what inspired that decision gives insight on how businesses are taking advantage by adding cryptocurrency onto their balance sheets while also being able to make electronic transactions without worrying about juggling multiple types which seems like an easier way around when you think about it.
The reason bitcoin is such a big deal is because of the blockchain technology used to power it and other cryptocurrencies. Think about it like this, if you were to make a transfer or transaction using traditional banking methods, that takes time and fees while also being open to fraud and theft. The blockchain however makes cryptocurrency transactions faster, more secure, and cheaper.
Bitcoin has been surging in recent months with investors talking about some calling it ‘digital gold’ while others describing it as nothing more than just an internet fad. But what happens when someone starts bringing up tulip mania? Of course, bitcoin’s value could be deemed as overvalued by many but so was everything else before its time during innovation cycles, right? That might not sit well with people who missed the bitcoin boat but there’s good news for those looking forward to investing in cryptocurrencies sometime soon
Bitcoin might be a good investment for those who are looking to make money with their crypto coins. Experts predict that in 2022, Bitcoin will have a worth of $100k or higher which means there could be some potential gains on your investment when it goes up from here.
The price fluctuations can be frustrating at times, but all hope isn’t lost! You just need patience and determination like any other trader would need when investing in something new such as cryptocurrency trading.
Bitcoin might have started it all, but Ethereum is giving it a run for its money and starting to gain attention as one of the top cryptocurrencies out there. Experts say that while Bitcoin has one main “application”, Ethereum has multiple use cases such as smart contracts which makes it more than just a simple cryptocurrency. With many companies looking into ways to get involved with this new form of transaction, it stands to reason that Ethereum might be an investment worth looking into sometime soon.
Ethereum is a revolutionary new blockchain that allows people to create online contracts. It also gives them the opportunity for Ether, which can be used as currency and fuel within these contracts created with this platform– known for its smart contract abilities! At about a 42% growth rate over 2017-2022, you will have made more than your investments if invested today (in 2022).
Ethereum has been one of the best performing cryptocurrencies over 2017 and in fact, is up more than 4000%! While it’s still a long way from reaching Bitcoin’s price and market value, this is something even casual investors can look forward to when considering investing in cryptocurrency.
The thing about Ethereum is that while it’s currently ranked as the second most popular cryptocurrency in the world by market cap (second only to bitcoin), there’s no telling how high it’ll go. What makes Ethereum such an interesting purchase for many investors is the fact that they’re not just buying into a digital currency rather technology which could open up new doors in the near future.
While there are still drawbacks to cryptocurrency, it seems that many have already begun looking past all of them and are seeing the bigger picture. With so much potential being shown, it’s almost surprising how little these coins are actually valued when compared to other investments out there — which is something else to consider when deciding whether or not to invest today.
Cryptocurrencies might be a scary thing for many people, but you can always look at it from another perspective by saying that they’re solving problems created by traditional banking solutions!
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.