Cryptocurrencies are the future of money. We all say it, and we all believe it. However, that does not make it easier for most people to start using or investing in them. The fact that there are over 2,000 cryptocurrencies currently available to traders and investors makes it even harder to know the best ones to bet your money on.
Investors and traders, especially new market entrants, find it hard to choose the top crypto coins to invest in. This is because the market changes, and different cryptocurrencies peak for various reasons.
In this article, we discuss the best cryptocurrency to invest in spring 2020 and possibly beyond. These digital coins have strong fundamentals, which could propel them to perform well before this year comes to an end.
General crypto market overview
2020 has been an exciting one so far for the cryptocurrency space and the financial markets in general. The coronavirus (COVID-19) outbreak has been the primary topic of discussion so far this year, and it has affected several economies around the world.
In the cryptocurrency industry, most people believe the bear market is over as BTC price has been hovering around the $10,000 mark for the past few weeks. The Bitcoin mining reward halving in May is another highly anticipated event. In terms of adoption, cryptocurrencies have been gaining momentum globally.
Recently, the Indian Supreme Court overturned the ban on cryptocurrencies put in place by the Reserve Bank of India (RBI) in 2018. This means cryptocurrencies can now be available to millions of people in India.
Also, the central bank-issued digital currencies (CBDCs) have been highly discussed in the mainstream media. The US Federal Reserve is already researching the use of blockchain technology and is being advised to explore the possibility of developing a digital dollar. Other countries looking to develop their CBDCs include Japan, Russia, England, China, Sweden, Ukraine, the Marshall Islands, and others.
Facebook’s Libra project has also witnessed several changes in recent months, with companies such as Visa, MasterCard, Vodafone, and a few others leaving the project. However, it is still unclear if the cryptocurrency would be launched in the second half of the year.
Top cryptocurrencies to invest this spring
With so many things currently affecting the cryptocurrency landscape, it gets harder to choose the best digital currencies to buy now.
So, here is our list of the top cryptocurrencies to invest in spring 2020.
When you ask the question, “what’s the best cryptocurrency to invest this spring?” the answer Bitcoin comes to mind. BTC is the first cryptocurrency to be developed and remains the largest by market cap. It remains the first crypto people look at when venturing into the crypto space.