The cryptocurrency sector has been in existence since 2009, the year Bitcoin (BTC), the top crypto based on market capitalisation, came into being.
Eleven years down the line, cryptocurrencies are now a part of modern society, with their number surpassing 3,000.
Cryptocurrency projections are crucial in distinguishing the profitable cryptocurrencies, based on optimal return on investment (ROI). As a result, cryptocurrency prices predictions are fundamental in determining what crypto coins to invest in 2020.
The coronavirus pandemic has been wreaking havoc so far this year, and this has triggered shocks in the financial markets. On March 12, commonly referred to as Black Thursday, the global markets nosedived, and cryptocurrencies were not spared.
For instance, Bitcoin lost 50 per cent of its value as its price reached $3,800. Since, it has witnessed a steady increase as it is currently trading at $6,856.
2020, therefore, seems to be a bright year for cryptocurrencies based on the strides being made by Bitcoin. For instance, payment giant Visa (V) recently partnered with Fold, a crypto startup, to provide a credit card where consumers will be rewarded with Bitcoin for spending in major companies and outlets like Uber (UBER), Amazon (AMZN), Airbnb, Nike (NKE), Domino’s (DPZ) and Starbucks (SBUX). This move seeks to propel Bitcoin’s mainstream adoption.
The best crypto performers in 2019 and so far in 2020
Cryptocurrency forecasts have been rife, and 2019 proved to be a great year in the crypto space. For instance, cryptocurrency adoption skyrocketed as compared to the previous year.
Despite cryptocurrencies performing commendably in 2019, some stood out as better compared to others, and their bullish run continues in 2020.
Bitcoin continued its dominance as one of the best crypto performers in 2019. It started the year at $3,742 and reached an all-time high of $12,407 in June 2019. Its overall performance was outstanding because it…