The cryptocurrency world has already been rocked by Bitcoin's recent surge. It broke above the psychological level of $50,000 again a few days ago and has remained above it since.
Analysts are questioning whether Bitcoin, the world's largest and oldest cryptocurrency, will be able to maintain its price. There are also rumours that altcoin prices may skyrocket.
Altcoins, or Bitcoin alternative cryptocurrencies, are showing a stellar performance on the charts,, with some long-time competitors like Ethereum still vying for a growing market cap.
Given the increase in investor interest in altcoins and NFTs in July and August, the cryptocurrency market may see unexpected increases in these regions.
Here are a few altcoins whose prices could rise in the next days:
Ethereum (ETH) : The price of Ethereum was hovering at $3,732.40 at the time of publishing. Ethereum, also known as ether, has increased in value by 12.34 percent in the last week. It has been steadily increasing throughout the months, bolstering the speculations.
Cardano (ADA) : Cardano is another prominent name that could witness a price increase in the future. With a market capitalization of $84 billion, it is ranked third. The value of the coin skyrocketed in May after Tesla said that it would no longer accept Bitcoin payments due to the high electricity costs associated with its mining.
Investors saw ADA as an environmentally sustainable alternative, and it soared to unprecedented heights. Smart contracts will be added to its blockchain in a month's upgrade, which may pique the curiosity of more investors. A price increase is unavoidable.
Chainlink (LINK) : Chainlink is now ranked number 12 in the charts. However, it is gaining traction among investors and on social media. It has increased in value by over 23% in the last seven days. It is presently worth roughly $32 per token. LINK is expected to hit the $50 level within a year, according to sites like Coin Quora and others.
Dogecoin (DOGE): Elon Musk, the CEO of Tesla, helped popularise the meme currency. It has risen to popularity in recent months. It's now one of the cryptocurrencies that might be considered a good investment. The cryptocurrency returned almost 8,000 percent in 2021.
Avalanche (AVAX): This altcoin, like Cardano and Dogecoin, has gotten a lot of attention in 2021. It has a supply limit of 720 million units. Its worth increased in August 2021. In fact, the coin has returned a remarkable 2,440 percent from its launch in September 2020.
Leave a Comment :
We introduce people to the world of currency trading, and provide educational content to help them learn how to become profitable traders. We're also a community of traders that support each other on our daily trading journey.
Trading CFDs on leverage involves significant risk of loss to your capital.
Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. The Website should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. DrForexOfficial, will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. Read our full legal disclaimer.