It’s an interesting time to be in crypto. Bitcoin (BTC) seems to be on an unrelenting rally. After pushing above $6k, it has made huge gains in quick succession, and now seems close to testing the $7k resistance. There are theories that this rally could be driven by fears of tether collapsing, and investors seeking safety in Bitcoin (BTC). Nonetheless, this rally has reignited confidence in crypto, and money seems to be flowing back into the market. As such, if Bitcoin (BTC) pushes above $7k, it could trigger a market-wide bull market irrespective of the initial trigger. Some altcoins are already gaining momentum, with Litecoin (LTC) up by over 10% in the last few hours. If the bulls are truly back, there are a few cryptos that could deliver excellent results this year. Here are a few of them.
Bitcoin is the king of crypto. At the moment, its dominance is up, edging close to 60%. Its adoption is growing too, and the perception that it is the safest crypto could give it lots of momentum going forward. It is an immutable system that literally no one can tamper with at this point. On top of that, it happens to be extremely scarce. At this point, there just aren’t enough bitcoins for everyone.
With all these factors at play, there is no doubt that Bitcoin’s trajectory long-term will be nowhere but up. As such, if FOMO hits the market, based on memories of the 2017 rally, Bitcoin (BTC) could easily rise to test new highs within the year.
Basic Attention Token (BAT)
BAT has made tremendous progress this year. It has gained a huge amount of value, and is one of the altcoins following Bitcoin’s momentum at this point. BAT is pushed by the increased popularity of the Brave browser.
At this point it is rivaling Google chrome in terms of popularity. As more people learn of the beauty of the brave browser, such as privacy, rewards for viewing ads, and high speeds, its value in the market will only grow. This places BAT in a unique place to grow, as Bitcoin (BTC) drives the latest crypto rally.
Litecoin (LTC) has pumped by over 10% in the last few hours, an indicator that it is catching up to the momentum. This is interesting because, Litecoin has the much awaited halving coming up in a few months. As such, if it starts to rally now, it could easily be trading back at its all-time highs within a few months.
With this major factor at play, Litecoin makes for a good buy at current prices. It’s already one of the biggest gainers this year, rallying from $21 to $99 in Q1. That’s a good indicator that as the halving approaches, interest in LTC could grow. It’s without a doubt one of the lowest risk crypto investments this year. Besides, Litecoin is scarce, and this is important in driving up its price in a bull rally.