The cryptocurrency market is heating up again in 2021, with this being the first time that we have seen the formation of what looks to become a major crypto bull run since 2017’s epic run.
Throughout 2017, the price of Bitcoin increased by more than 1,700%, and pushed the crypto market into the forefront of the mainstream as many people flocked to the crypto market to invest.
We’re taking a look at the formation of 2021’s bull run from the perspective of the Australian cryptocurrency market, considering which altcoins are the best for Australian investors to get in on before the bull market takes off, and breaking down the reasons for our selections.
How is the Australian Crypto Market Doing in 2021?
2021 is a big year for global cryptocurrency markets generally, but in specific it is a big year for the Australian cryptocurrency market which has grown substantially over the past few years.
The exponential growth of the Australian market has now cemented Australia as one of the global hubs of cryptocurrency trading and investing and sees Australia look to become one of the future hotspots for cryptocurrency projects and for much of the trading volume in the market.
The infrastructure in Australia that supports the Australian cryptocurrency market has now matured significantly as well over the past few years, and there are more platforms available for Australian crypto traders than ever before.
Is Now a Good Time to Invest in Crypto?
At the beginning of 2021, it is certainly a good time to be investing in cryptocurrency considering that over the coming 12 months it is predicted that the value of a majority of the cryptocurrencies in the market are going to expand significantly.
Every four years in the cryptocurrency market there is a bull run that occurs, which is a period of between 12 to 18 months where the price of Bitcoin and other cryptocurrency is increases significantly, with the increase in the value of Bitcoin in the last cryptocurrency bull run being 17X over the course of the last 12 months of the run.
While all assets are predicted to increase in value throughout 2021, there are some cryptocurrencies that will perform better than others and so it is important to do diligent research on the likelihood of each cryptoassets increasing in value.
Why Might Altcoins Be Better to Invest in During a Bull Run?
While many investors select Bitcoin as the asset that they invest in during a bull run as it has a reliable chance for increasing in value, historically investing in altcoins is has been more profitable.
While the price of Bitcoin may increase by 1,000%, many altcoins will see their prices increase by twice or more that amount throughout 2021.
This is particularly the case with more established altcoins that have been in the market for a number of years that have a strong software infrastructure underpinning their offering to the market.
Which Altcoins Should Australian Crypto Investors Buy in 2021?
COV
COV is the native cryptocurrency of the covesting ecosystem and is predicted by many analysts within the cryptocurrency space to be one of the top performing altcoins this year.
Over the past 12 months the price of COV has increased by more than 1,000% as a result of the expansion of covesting as the first form of cryptocurrency copy trading to be available in the market.
As well as this, recently there have been 4 new token utilities that have been integrated into PrimeXBT's Covesting module and that allows COV token holders to dramatically cut the costs of using the module whilst increasing the amount of revenue that they can generate, with this boosting the price of COV since then.
ETH
This is the second largest cryptocurrency in the market and is another strong choice for Australian investors throughout this period of time that would like to invest into a more established cryptoassets.
ETH has suffered from serious problems with the latency of its network and the congestion that has been a long-standing problem, however it is in the process of upgrading to ETH 2.0 which is touted to be able to solve these problems.
As a result of this the projection for the increase in value of ETH is very high over the coming 12 months and already it has performed strongly in late 2020 and early 2021.
UNI
UNI is the native cryptocurrency of Uniswap, which is one of the leading decentralised finance platforms in the market and has the largest amount of liquidity of any DeFi platform currently.
As a result of the widespread popularity of DeFi and yield farming since mid 2020, UNI has seen huge amounts of growth in its price and looks to become one of the top performing DeFi tokens of 2021.
UNI also has benefits where it can be used for yield farming and for other supportive ways of generating an income and therefore it's worth investigating the opportunities that surround UNI.
In Conclusion
While there are many different cryptos in the market that will be increasing in value significantly over the past to 12 months, COV, ETH, and EOS, are 3 of our picks for the best altcoins to select to invest your capital into.
This is because each of these cryptocurrencies has substantial potential for growth this year, based upon the impact on the crypto market and the wider world.
If you would like to learn more about these three cutting edge crypto projects, check Covesting, Ethereum, and EOS.
I think i have learned one major thing from the post which is the fact that bullrun occur every four years or there about
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