Wednesday , August 4 2021

Better than bitcoin: economists weigh in on cryptocurrencies that are worth it


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Bitcoin reached a new record that climbed to almost 20,000 USD and drove investors around the world crazy. However, experts advise to pay attention to other cryptocurrencies, the increase of which is even more promising.

the price of bitcoin It crossed the $ 19,000 mark on November 24 for the first time since December 2017, and climbed to $ 19,860. But while bitcoin has risen 15% in the last week, etherium, the second largest cryptocurrency, has risen more than 20% in the last seven days.

The third largest cryptocurrency, XRP, increased even more, almost 25%. litecoin, polkadot, cardano and larvezden they also reported higher gains from bitcoin.

“Part of what’s going on is simple math. The smallest coins they can have movements [porcentuales] larger and there are many other currencies that people can invest in, ”explains Greg King, CEO of Osprey Funds, a company that invests in digital currencies.

It is these smaller cryptocurrencies that have pushed bitcoin to a new high, experts say. Bitcoin itself has benefited from a weaker dollar and expectations that a prolonged period of extremely low interest rates will eventually lead to inflation.

In terms of value, bitcoin is still significantly larger than other cryptocurrencies. Until December 3, everyone bitcoins in circulation are estimated approximately $ 360 billion. For comparison, the accumulated value of etherium is just above $ 70 billion. all XRP are valued approximately 30 billion, while the value of litecoin is less than 6 billion.

“It makes sense for investors to have a long-term portfolio of bitcoins and etheriums and to own a portfolio of others.” [criptomonedas] “Let’s negotiate,” King was quoted as saying by CNN.

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