Cryptocurrency trading, even very small amounts, can reap big rewards if you enter at the right time and make the right choice, but that doesn’t mean there are no risks (if there are, the risks are greater).
This requires crypto traders to think more about the options available to them before making a choice. Looking at the ins and outs and becoming an expert on different cryptos.
But let’s face it, it’s pretty time-consuming!
So, what is the best cryptocurrency to invest in for June 2021? We’ve put together a list of 7 options for you to consider, and this month we’ll go into depth on why each coin is special.
Without further ado, let’s interrupt! The 7 Best Cryptocurrencies to Invest in June 2021:
So, have you decided to invest in cryptocurrencies, but do not know which one to choose? Fear! We’re going to give you a list of the best cryptocurrencies to look at this month. List of the Best Cryptocurrencies to Consider in June 2021
While the global economy is still shaken by the Great Coronavirus Lockdown, speculators and part-time investors are looking for alternative ways to store wealth and make profits.
This has led more people to search for the best cryptocurrencies to invest in.
After all, getting into the crypto space is an overwhelming experience for the first time. And even experienced investors may struggle to keep up with these rapidly evolving technologies and practices.
Too many options can cause cognitive overload. It is often referred to as ‘over-selection’ and prevents us from making decisions.
When it comes to investing, knowledge is really power. Knowledge is what can keep you one step ahead, giving you a chance to notice subsequent trends before they even happen.
Looking for the best cryptocurrency to invest in for June 2021? Or maybe the next crypto will explode? Here are the 7 best options this month!1. Bitcoin (BTC) – The original cryptocurrency is still the most valuable and reliable.
As the grandfather of cryptocurrency, Bitcoin was the first crypto to record financial transactions on a decentralized blockchain.
Although Bitcoin was launched more than a decade ago in 2009, Bitcoin exists with a market capitalization of just over $1 trillion and is still the number one choice for new investors.
Bitcoin’s main goal was to revolutionize traditional financial systems and eliminate the need for government-issued currencies by providing innovative technology and secure payment architecture.
Interestingly, in the early days, many people started buying Bitcoin because of its promising future. As Bitcoin expert Andrew Badr says: “The best part of owning Bitcoin is the feeling of participating in the future.” Pros: Why invest in Bitcoin?
Although Bitcoin has experienced numerous ups and downs over the past three years, it jumped to $30,000 in December 2020 and rose to over $44,000 weeks later.
Since then, Bitcoin prices have become more stable and have become one of the safest options for anyone entering the crypto space for the first time.
When we look at the future of Bitcoin as an investment, it is also noteworthy that we witnessed another major event this year: the May 2020 Bitcoin halving, a programmed event that reduced the number of new coins produced by the network through mining.
For many Bitcoin bulls, this growing scarcity is part of exactly what supports the true value of this cryptocurrency, making it perhaps the best cryptocurrency to invest in for 2021!
Then in February 2021, Tesla invested $1.5 billion in Bitcoin and began accepting crypto as payment for its products. Following the news, the Bitcoin price set a new record of $56,000 per coin.
But there is potentially a much bigger reason for Bitcoin’s price to rise this year.
As financial institutions move to find a better store of value, we could see another price increase in Bitcoin as the U.S. approves its $1.9 trillion coronavirus stimulus bill.
Typically, this happens to be gold, but it seems that many figures on Wall Street are beginning to understand that Bitcoin holds value better. Again, this is precisely due to its scarcity. Cons: Why Bitcoin can be a bad investment?
As much as we love Bitcoin, it would be irresponsible to pretend it’s a great investment (if there is such a thing).
Although people talk less about it these days, it should be noted that there are many other coins that are assumed to be technically more robust.
Litecoin, for example, is heralded as four times faster than Bitcoin and a potentially better currency to transact. But that’s just the beginning.
And then there is the idea from many politicians and central banks that the sole purpose of Bitcoin is to conduct illegal activity. Although this myth has been debunked hundreds of times, it still continues.
In reality, using Bitcoin for illegal purposes would be a pretty bad idea for criminals as you can track transactions through the distributed ledger. On the other hand, cash is much harder to keep track of.
Despite this, the misunderstanding remains. Should I invest in Bitcoin?
For the time being, Bitcoin seems to be reaching the lows of $50,000 and the highs of about $60,000. These seem to be the new support and resistance levels. So, with that in mind, it might be a good idea to buy at $50,000 and sell at $60,000.
Bitcoin predictions for June 2021 look pretty good. The Economic Forecasting Agency predicts that for June, Bitcoin’s minimum price per coin will be $20,073 and its maximum value will be $39,331.
While bitcoin preview is in June 2021, he believes that Bitcoin’s minimum price could be as high as $47,289 per coin.
And there are so many predictions that Bitcoin will reach even higher levels, for example, Anthony Pompliano now believes that Bitcoin could reach $500,000 per coin, or even $1 million, by the end of the decade.2. Cardano (ADA) is the most advanced coin of 2021 so far (other than Bitcoin)
Cardano is defined as a third-generation cryptocurrency that aims to improve Bitcoin’s scaling problems and Ethereum’s smart contract distribution principles.
To be more precise, Cardano uses a two-tier blockchain: the Cardano Consensus Layer and the Control Layer, the former for processing transactions and the latter for processing smart contracts.
Its hierarchical structure, which aims to improve scalability and interoperability between different financial systems, is not just a whim. Pros: Why invest in Cardano?
First, Cardano’s protocol went through a rigorous review process (conducted by researchers and academics) before its launch in 2017, making Cardano one of the first peer-reviewed blockchains to exist.
Cardano’s algorithm is called ‘Ouroboros’, the name of an ancient symbol that represents a dragon eating its own tail.
The Ouroboros algorithm also implements new mining principles and incentives, an attractive feature for miners and blockchain enthusiasts.
In February and early May 2021, Cardano had some of its best performance ever.
Slow and steady progress and a major update have caused Cardano to rise while most of the other altcoins are in decline. At one point, Cardano took the third place of the largest cryptocurrency by market capitalization for a moment. Cons: Why investing in Cardano can be risky
While it’s great to see Cardano gain some recognition, it’s undoubtedly in a new field and we don’t really know where it’s going.
You should keep in mind that there are many merchants who are currently considering selling their ADAs. Traders who have probably held it for years to get to this point.