Wednesday , January 26 2022

Better than Bitcoin: Economists weigh in on the cryptocurrencies they deserve



Short url

Bitcoin has hit a record low of $ 20,000 and has driven investors around the world crazy. However, experts recommend paying attention to other cryptocurrencies, as their rise is even more promising.

Price bitcoin It surpassed the $ 19,000 mark on November 24 for the first time since December 2017, rising to $ 19,860. But while bitcoin went up % 15 last week ethereum, the second largest cryptocurrency, has risen More than 20% in the last seven days.

The third largest cryptocurrency, XRP, increased even more, ia 25%. litecoin, polkadot, cardano and stellar they also made higher profits than bitcoins.

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

Experts explain that it was these smaller cryptocurrencies that pushed bitcoin to a new level. Bitcoin itself has taken advantage of a weaker dollar and expects long-term very low interest rates to eventually lead to inflation.

In terms of value, bitcoin is much higher than other cryptocurrencies. By December 3, all of them bitcoins it is estimated to be approximately in circulation $ 360 billion. By comparison, the accumulated value ethereum yes $ 70 billion. All XRP they are roughly valued 30 billion, value litecoin is less than 6 billion.

“It makes sense for investors to have a long-term bitcoins and ethereum wallet and a basket of others. [criptomonedas] to negotiate, ”King advised, citing CNN.

Source link