Hot Features
Premium
Register for real-time alerts, custom portfolio, and market movers
2021 did not come empty-handed. It has brought some good news for the Bitcoin lovers along with other Altcoin investors. By the first week of 2021, Bitcoin made a new record by reaching the value price of more than $40,000. With Bitcoin, other Altcoins also have started to reach new heights. It is clear that 2021 is the year for Bitcoin. But is 2021 the year to shine for Altcoins? To know, visit the crypto engine.
What Are AltCoins?
Bitcoin is the ruling planet in the Crypto galaxy. Though the Term or very name Bitcoin is used as the synonym of Cryptocurrency, there are thousands more. Apart from the Cryptocurrency king Bitcoin, other Cryptocurrencies are called Altcoins.
Reasons Behind The Growing Demand Of Altcoins In 2021
With the rapid rise of Bitcoins, experts are saying that 2021 has brought luck for not only Bitcoin users but also for Altcoin users. Other Cryptocurrencies like Ether are also performing well. So, “Is 2021 the year to shine for Altcoins?” Let’s find out the answer.
1. Bitcoin Is About To Reach $50,000
By examining the current rising status of Bitcoin, experts are saying that Bitcoin will reach the height of $50,000. This high price is not too affordable to many investors, and thus they are shifting their investments from Bitcoin to other Altcoins that are performing decently. It is obvious that not all the investors reach the price height of $50,000 or even the current Bitcoin price of around $34,000 is also too much to afford by many of the regular Cryptocurrency or Bitcoin investors. So, it can be said the time for Altcoins is on its way.
2. Higher Scalability
In 2021, in case you want to put your money in Altcoins, the scalability of them will matter. 2021 has brought a new Cryptocurrency, that is Ethereum 2.0, and it has been launched successfully to the Crypto market. Those investors who have a small to medium-scale of investment range can earn considerable profit by investing in this new Ethereum. The best thing that Altcoins are offering is the lower price range. The high price of Bitcoin is beyond the reach of small to medium investors in recent days.
3. Bitcoin Availability Will Be Less
No one can deny that the demand for Bitcoins is sky-high right now. There is not much Bitcoin in the market to fulfill this high demand. So, as an alternative solution, Altcoins are performing really well, this rising demand for Bitcoin is also driving investors towards Altcoins for gaining considerable profits. A noticeable increase in the circulation of Ethereum and other Altcoins has been noticed in the past few weeks. So, who knows, the circulation may increase more and attract more investors to invest in Altcoins.
4. Ether Is Going To Reach $2,000
If we consider the current value price of Ether, it is more than $13,000 as of 1st February 2021. Experts are predicting that it will tough the value price of $2,000. Looking at the currency scenario, it does not seem impossible. So, investors can earn huge profits by making their investment decisions in favor of Ether or Ethereum. Apart from individual investors, organizational or institutional investors will also get higher profits with Ether and other Altcoins.
Experts Are Expecting Big Altcoins
Everyone knows that 2021 is the year for Bitcoin and Bitcoin lovers. The price value of Bitcoin is all set to break the previous records and ready to build some new records. In this situation, the whole Cryptocurrency market will rise with Bitcoin. Investors with small to medium investment capacity will not be able to afford the cost of Bitcoin and will switch to Altcoins. So, there is no doubt that the Altcoin market will also witness some high rise or popularity.
Final Verdict
Though the experts are making their statements in favor of Altcoin, do not forget that the Cryptocurrency world is too unpredictable. Price volatility is the ultimate characteristic of all Cryptocurrencies. So, make sure that you are analyzing all the market risks while investing in any Cryptocurrency or Altcoins.
