Bitcoin price is about to set new record highs and soar off toward the moon and potentially prices of $100,000 or more. When that happens, altcoins will begin to follow the incredible trajectory of Bitcoin as those who missed out scramble to find the next Bitcoin or altcoin that makes them a fortune.
During these rare phases, once in a lifetime wealth can be generated, but only if you pick the right projects. Below is the list of the most hyped altcoins according to a survey, which could shed some light on what altcoins are destined to end 2021 with a bigger bang than even Bitcoin.
Disclaimer: The below list is not investment advice. Cryptocurrencies carry risk and it is recommended to do your own research and to never invest more than you can afford to lose.
Starting the list with the largest altcoin by market cap makes the most sense, as it is one of the more likely to perform assets. Its historic performance puts it ahead of even Bitcoin in terms of ROI, and it is especially profitable during altcoins seasons.
Ethereum has everything going for it: The most visibility; the most projects built on it; and because of that, the most demand for ETH as a currency. All these factors suggest that Ethereum is going to set new all-time highs, and expert projections range from $7,000 to as much as $20,000 before the peak is in.
Litecoin trading has been dull for years, but when this overlooked altcoin begins to shine again, the entire market will be blinded by the glare. When Litecoin finally broke out in late 2017, in the last month alone the cryptocurrency increased by more than 350%.
The sleeping giant has underperformed the rest of the market for nearly four years running, but all it would take is just one single month like the above to change the situation dramatically. In terms of what Litecoin has going for it, it is the closest alternative to Bitcoin that is both faster and cheaper to use. In fact, it is ideally one of the best cryptocurrencies for everyday transactions.
Cardano is the only peer-reviewed cryptocurrency, founded by one of the creators of Ethereum. Cardano is poised to be an Ethereum killer like many others on the list, recently launching smart contracts.
Traders have targets close to $10 per ADA at the peak of the cycle, making it an attractive altcoin, commanding a high placement in the top ten cryptocurrencies by market cap.
Rather than kill Ethereum, like many others on the list, Polkadot aims to connect it and any other blockchain together to make a more cooperative and integrated blockchain ecosystem. Data, tokens, and more can be moved from blockchain to blockchain thanks to the technology.
The fanbase of Dogecoin wants to take this altcoin to the moon, and so does the one man that could do such a thing: Elon Musk. The SpaceX and Tesla frontman has an infatuation with the Shibu Inu meme coin, helping it nearly reach $1.
Dogecoin started off as a joke on Reddit, and today commands billions in capital from a massive investor base. It was also one of the biggest movers on Robinhood ever, responsible for a substantial amount of 2021 trading volume and revenue.
Chainlink is the link other blockchains tap into for the most accurate, tamper proof data. The decentralized oracle has the most popular and best performing coin for several years but has since cooled off. But when altcoin season comes to a conclusion, Chainlink should help to lead the charge.
Much like Litecoin, XRP is a sleeping giant almost ready to awaken. And what a monster it is when it wakes up. During the last month of the 2017 bull market, XRP pulled a 900% rally, shocking bystanders and causing the top to be put in on the entire crypto market.
When XRP moves again, so many will be left watching it happen, especially US-based investors who were forced to sell by the SEC.
Solana is the fastest blockchain platform around, boasting low fees and a solid UI. It is one of the top contenders to unseat Ethereum, if such a scenario is ever to happen. Unlike Cardano, Solana already has DeFi projects, NFTs, and more and has less catching up to do with less time on the market.
Uniswap is the governance token to the decentralized exchange and automated market making platform known for both trading and for its liquidity provisioning and related APY reward returns.
The token was first given out for free to the first users of the platform, and is now worth more than ten times the initial debut price, painting a picture of how far this cryptocurrency might go in the future.
EOS is a coin that almost no one is paying attention to anymore, which is all the reason more that this cryptocurrency could cause serious shock and awe if it moves. It also debuted after the last crypto bull market peak, meaning it may have a lot more steam than other coins on the list that are of similar age.
Summary: How To Survive Altcoin Season
Altcoins are some of the most profitable investments and trades in finance, but they can also bring investors and traders the most substantial losses. At this point in the crypto market cycle there is still plenty of money to be made, but making sure to sell or go short at the right time is critical to keeping profits and continuing to be successful when the market reverses.
Cryptocurrencies are highly volatile assets and carry greater than average risk to investors, especially due to the lack of regulatory clarity. But there is no reward without at least some risk, so because these assets are so volatile is how they are able to pull off such incredible feats, such as 900% returns in a single monthly candle.