Although the market of cryptocurrency started with a question mark in 2009, it is now considered a wise investment. Apart from just Ethereum and Bitcoin, many other tokens and coins have made their way into this crypto world. Many banks and institutional investors started treating crypto as a great investment, even when they have seen huge volatility in the crypto market.
If you are looking for a piece of small evidence as to how cryptocurrency has been growing, then check the way Bitcoin has grown in the year 2021. At the end of 2020, the price of Bitcoin was around $22,159.37 but if you check the price of the same coin by the end of 2021, it is $68,789.63. It was the all-time highest from this coin. So, to start trading in Bitcoin check this Bitcoin trading software.
Before you can decide which cryptocurrencies will soar like a rocket in a year, you need to understand why more and more investors are showing interest in them. One main reason for it is the future of digital currency. Two important things you need to monitor before you invest are the price and the market cap.
Market cap will help in understanding how much volume is actually in trading. The higher the volume, the more stable its price will be. Also, check out the price to make sure you will be able to buy them and stay in the market in case it goes low.
Top 5 cryptocurrencies which will soar like a rocket in 2022
Now that you are ready to buy cryptocurrency, it is important to understand which one will give you good profits. The most common that you get for this question is Bitcoin. There are many small coins, which need low investment and still will help you make profits. So, here are the five coins that you can consider:
After Bitcoin, if there is any cryptocurrency that has attained so much popularity, then it is Ethereum. It is known as the second-largest coin in the world. There were many updates done to the Ethereum algorithm and also reduced the Ethereum supply. It is currently 118.82 billion coins.
There are many other major updates in the algorithm like lesser transaction fees, scalability, and faster transaction speed. Its price is going to soar like a rocket in the coming year.
The next cryptocurrency that you can invest in is Tether. It is also going to see a good hike in its price. This coin is pegged with the fiat currency US dollars.
It is a replica of the US dollar and will replace the cash in coin form. In simple words, you can call it a digital dollar. You can now use these digital dollars for any transaction in USD and no conversions are required.
Binance coin (BNB)
Check out Binance coin, which is the third-largest traded crypto in the digital finance world. It has good market capital. There is a limit on the number or volume of tokens like Bitcoin.
For the Binance coin, the limit is 166,801,148. The complete volume is in circulation by the end of December 2021. This was one of the reasons why its price was high in the last year. It also makes sure to place 1/5th of its profits back into the coin to increase its price.
This coin, Dogecoin, was first launched in the year 2013. It started slow, but after a few years, it started increasing. It’s price went high when Elon Musk, the CEO of Telsa announced that he will be accepting cryptocurrency as a payment mode.
So, if you have any plans to invest in Dogecoin, then keep an eye on Elon Musk for any sort of announcements this year.
Shibu Inu (SHIB)
Created very recently in 2020, Shibu Inu is also a coin that might soar like a rocket in 2022. The price of this coin has gone high in 2021, but it again came down. But according to experts, there are more chances for it to go high again and hence you need to invest in it.
So, those were the top 5 cryptocurrencies that will soar in the next year, according to us. But you should always keep an eye on the market changes to predict better.