Trade engine: ‘buy low and then sell high’. | Photos: Pexels
Investing in cryptocurrency has been a popular trend among traders from all over the world for a while. What about in the current corona era?
It can be quite difficult, especially for beginners, to select the best to invest in when buying cryptocurrencies. There are currently over 5,000 digital coins to choose from, although not all of them are worth investing in. Is buying cryptocurrencies wise during the COVID-19 period?
Now that the markets are anything but stable, you may be wondering how buying cryptocurrency will make your investment a safe investment in the long run. Because those much-loved cryptocurrency markets have really had to deal with increased volatility (volatility) since the outbreak of the deadly coronavirus.
Is there still a buying option for cryptocurrency during the coronavirus? Well, if you think carefully about the main tradingmoto of ‘buy low and then sell high’, then you’re in a very good place right now.
Financial research has also shown that trading in so-called over-the-counter (OTC) cryptocurrency has increased since the outbreak of the virus. This indicates that more people have become interested in cryptocurrencies amid the fear of COVID-19.
Furthermore, there is also good news to report about the crypto regulation in some countries such as India, Iran and Venezuela, which were initially against the acceptance of crypto, but are now finally embracing it. The Government of Zimbabwe also seems to be interested in legalizing digital money in order to improve the financial sector. Moreover, according to the very latest data from Statista, the popularity of cryptocurrency is also growing rapidly in Colombia.
Incidentally, this does not apply to all cryptocurrencies. For example, Facebook’s infamous Libra project saw many members leave the Libra Association, only to join its main rival, known as Celo’s Alliance for Prosperity.
To make it easy for you, a short list has been compiled of the best cryptocurrencies to invest in the second quarter of 2020, because even in times of crisis there is a good buying opportunity for cryptocurrency.
Bitcoin still maintains its top position as the most popular and profitable digital asset. Despite the fact that the past period was a bit downwards, it briefly reached the $ 7,500 mark again this week. According to the famous cryptocurrency and Bitcoin investor Tyler Winklevoss, Bitcoin is expected to increase in value much more in the coming period.
Ethereum has always been able to maintain its status as a profitable digital currency for investors. Analysts predict that the currency will soon show a new upward trend. The crypto environment also expects Ethereum to launch its 2.0 version in July 2020, with all the benefits that entails.
Unlike most digital currencies that are more focused on individuals, Ripple was created as a payment alternative for banks and other large financial institutions. Since 2012, several banking institutions worldwide have opted for Ripple’s innovative blockchain technology. Think of banking giants such as Banco Santander (SAN), J. P. Morgan (JPM) and Bank of America (BAC). XRP is therefore another popular investment option besides Bitcoin.
Tron is one of the newcomers. It dates back to 2017 and has been quite appreciated since its launch. Recently, Tron partnered with Metal Pay, a cryptocurrency service provider, which can effect a more frequent purchase of TRX in the United States. On March 27, 2020, the price of TRX reached $0.0119, but some investment experts predict that the coin could potentially reach $40 by the end of the year.
Bitcoin Cash is a member of the large Bitcoin family, which was introduced as a Bitcoin fork in 2017 and has achieved good results since its introduction. Although this digital currency started at $204 in early January, it currently stands at $217, while various experts predict that BCH will be worth $350 by the end of the year. The crypto market forecast for the second quarter of 2020
Cryptocurrency experts from all over the world are almost unanimous in their predictions. Many of them believe that all major cryptocurrencies will soon be back on track and thus live up to their upward predictions. So it is not at all crazy to think about investing now, even though it may be for the future.
(This article is outside metro’s editorial content)
Can you buy cryptocurrency in corona time?