The best cryptocurrency to invest in for 2019
As we reach the halfway mark of 2019, it’s important to see which key developments are affecting the US cryptocurrency market. Various trends influence the value of digital currencies, so it’s vital to understand and identify them so that traders know which is the best cryptocurrency for investment.
2018 may have been a volatile year for the crypto market but it seems that this is the year that the crypto market will return back to a bear market instead of a bull one. This means that 2019 could be a great year to invest in cryptocurrency.
To see the top cryptocurrencies for this year, let’s look at the following top digital currencies and the main topics concerning them for 2019.
Launched in 2015 by Vitalik Buterin, Ethereum is the 2nd most traded cryptocurrency worldwide. Traders can buy digital coins which are called Ether from Ethereum.
As well as its Ether cryptocurrency, Ethereum is well known for its blockchain technology which has caught the interest of many investors and major companies. To strengthen this development the EEA, (Enterprise Ethereum Alliance), was founded.
The EEA includes over 150 global developers and businesses such as JP Morgan, Microsoft and Samsung. All participants are interested in the smart contract blockchain technology from Ethereum that could be used for business uses such as supply chain tracking for instance.
What does this EEA mean for crypto traders though? It means that the future of Ethereum is looking bright, mainly because the EEA and blockchain technology developments are likely to engage further major companies for further investment to the project. This in turn will cause the value of Ethereum to increase which makes it an appealing option for trader investment.
Bitcoin remains to be the most popular cryptocurrency worldwide. However the United States of America remains the Number 1 country for trading the most Bitcoin globally. In terms of volume the US traded $1.44 billion worth of Bitcoin.
It also remains the most valuable cryptocurrency, with one Bitcoin today costing $8,418,42. In 2018 like most other cryptocurrencies the price of Bitcoin dropped and many investors were concerned that it would keep falling to under $2000 in value. However 2019 has shown that the Bitcoin price has increased and become stable.
The key points for this price growth are based on some forecasted trends, such as retailers and investors continuing to incorporate Bitcoin as a payment method and blockchain technology for business use. Both eBay and the Amazon owned Whole Foods both plans to accept the use of Bitcoin for payment this year, a major step forward for Bitcoin.
This planned retail use of Bitcoin plus the further expected global adoption of Bitcoin’s Blockchain for business use makes it likely that the Bitcoin price will continue to grow. For cryptocurrency investors it appears that 2019 is a good time to invest in Bitcoin.
Commonly known as the ‘Bitcoin-Lite’ of Bitcoin, Litecoin is a very worthy cryptocurrency to consider investing in. Litecoin was founded in 2011 by Charlie Lee whose main aim was to create a ‘lighter’ version of Bitcoin for traders.
Naturally this means that are many similarities to Bitcoin in how it operates, but there also some differences such as the speed of transactions. This is the leading difference between Litecoin and Bitcoin. Litecoin is incredibly fast at completing transactions, currently it takes 2.5 minutes to complete a transaction compared Bitcoin’s 10 minute timeframe.
Apart from speed, potential investors might be interested in that Litecoin also offers a near zero transaction tariff. Perfect for traders concerned about external costs.
The main reason though why Litecoin could be a good cryptocurrency to invest in this year is because it has a moderately low market cap. This is a potential bonus for investors, as cryptocurrencies with a low market cap have fairly good chances of coin price growth.
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