Crypto market: a brief overview
While prices of the major crypto coins have been remarkably stable over the past several weeks, the underlying technology continues to evolve. Decentralised finance (DeFi) applications are generating a lot of traffic and geopolitical uncertainty is strengthening the real-world use cases for USD-pegged stablecoins, such as Tether. According to the research by a16z, crypto space evolves in cycles with technological upgrades and developer activity eventually leading to price gains. After three previous cycle peaks in 2011, 2013 and 2017, upcoming upgrades to Ethereum and Cardano blockchains indicate that a new cycle is gaining momentum.
Top 10 cryptocurrencies to consider
With more than 5,000 crypto coins in existence today, finding the most promising projects presents a challenge. So, what are the top cryptocurrencies to invest in right now?
It’s near impossible to imagine a list of the 10 best cryptocurrencies that doesn’t include BTC. So far, 2020 has turned out to be an exciting year for the BTC community. The recent halving generated a lot of excitement and social media traffic, supporting a rally to $10,000. Despite improved fundamentals, however, $10,000 continues to be a resistance level for BTC.
Trade Bitcoin to US Dollar – BTC/USD CFD
There are multiple short-term and long-term tailwinds supporting the BTC price.
In the short term, loose monetary policy and fiscal stimulus are supporting the view of bitcoin as an inflation hedge, or a form of digital gold. In the long-term, BTC is poised to benefit from the upcoming wealth transfer from the baby boomer