2019 is flying by and we are nearing the halfway point of it. It is now clear which main trends are influencing the cryptocurrency market. It is important to recognize what trends are affecting the crypto market so that traders can identify which is the best cryptocurrency to invest in for 2019.
Last year, the cryptocurrency market fluctuated, however it appears that 2019 is the year when the market turns from a bear to a bull market, making it a great investment opportunity.
To see the best cryptocurrency to invest in for 2019, let’s look at the following top cryptocurrencies and the trends affecting them this year.
BITCOIN – Cryptocurrency Invest Outlook for 2019
It goes without saying that Bitcoin remains the number one cryptocurrency in the world and the most valuable crypto coin. Amongst investors, it remains the most traded cryptocurrency and is accepted as a form of payment by a growing number of retailers. In 2018, it reached its 10th anniversary which is quite an accomplishment for the first digital currency of its kind.
However, 2018 did see fluctuations in the Bitcoin price which caused concern that the price would continue to drop below $2000. So it surprised many people when in 2019 the Bitcoin price stabilized and increased, and currently one Bitcoin costs $7,924,69*.
The main reasons for this upswing point towards a few ongoing trends, such as investors continuing to embrace blockchain technology & cryptocurrency.
Another possible reason was retail investors believing it to be a great time to invest and buy Bitcoin, especially with the increased use of Bitcoin as a payment method accepted by retailers online and in store. Many large global retailers such as Amazon, Walmart and British Airways all plan to have Bitcoin payment systems online by the end of 2019, an exciting move forward for crypto adoption in retail.
One person who has great confidence in the growth of Bitcoin is John McAfee, the founder of the McAfee anti-virus software and also a crypto maestro. He has stated his belief that Bitcoin will reach “$1 million by the end of 2020.”
It will be interesting to see if McAfee’s prediction becomes reality, but with the expected continued adoption of blockchain technology around the world, plus the increase in the coin price, it seems that 2019 will be a good year for Bitcoin and for traders to invest.
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ETHEREUM – Cryptocurrency Invest Outlook for 2019
Although not as old as Bitcoin, having been only founded five years ago in 2015, Ethereum remains the second most popular cryptocurrency among traders, with its coins known as Ether.
The main attraction of Ethereum is its blockchain technology development which is attracting a lot of interest from companies.
To support this development, the Enterprise Ethereum Alliance (EEA) was launched in 2017. This alliance includes over 150 major companies such as Samsung, Deloitte and MasterCard who are all testing out forms of Ethereum’s blockchain technology within their companies. EEA participants are able to customise their own exclusive form of Ethereum blockchain for use as payment methods or supply tracking through smart contracts.
However, what does this mean for potential investors? Is Ethereum still the best cryptocurrency to invest in for 2019?
It appears that like for Bitcoin, Ethereum should also experience an increase in the Ether coin price due to the increasing use and adoption of crypto by traders and institutions.
The fact that Ethereum is better known for offering smart contracts beyond solely cryptocurrency than Bitcoin means that it is likely to attract more giant companies for global investment, which will cause a rise in price.
It appears that 2019 will be a year of general upswing for Ethereum and will solidify further its position as the second most used and valued cryptocurrency globally.
EOS – Cryptocurrency Invest Outlook for 2019
Since the first EOS crypto coins launched in June 2017, EOS has become well known for its technologically advanced blockchain and super fast transactions. EOS is also a blockchain and cryptocurrency, so a trader must invest in and own EOS crypto coins in order to use the EOS blockchain.
Currently one EOS coin is trading for $6,30* which is an increase from the low price of $2,57 at the start of January 2019. However it is important to look at some of the main events that are affecting EOS currently to see if the coins value will continue to grow.
Generally, EOS has shown great potential in both its cryptocurrency and blockchain commodities, which has attracted growing interest and investment globally. Its main strength is that the EOS blockchain is able to process millions of transactions per second, which is faster and more technologically advanced than either Bitcoin or Ethereum.
Another main aim of EOS is to enable simple and fast deployment of decentralized applications and the removal of user fees for traders and transactions. These benefits are all attractive to potential investors, but EOS still faces the challenge of competing against Bitcoin and Ethereum in terms of the total trading users. It is currently the fifth most traded cryptocurrency in terms of market capitalization and it will be interesting to see if it can move up a place this year.
Regarding 2019, the price prediction for EOS is generally difficult to predict, but with the pace of growth and crypto adoption, the coin value should increase. However, the increase is likely to be gradual and steady rather than a fast and fluctuating one.
RIPPLE – Cryptocurrency Invest Outlook for 2019
Ripple and their XRP crypto coin is the third most traded cryptocurrency globally and has great potential to becoming one of the leading cryptocurrencies in the next few years.
Ripple’s other technological products, which they offer alongside the XRP crypto, are RippleNet and xRapid. RippleNet is a bank to bank payment service which allows instant international payments to be made at very low transaction fees. It is currently active in 40 countries worldwide. Product wise xRapid is more of a general settlement system which uses XRP coins to settle a payment either abroad in the same country.
These blockchain products have made Ripple a popular cryptocurrency choice for investment from banking institutions. Plus the XRP coin can be used in the future as an intermediary by traders to complete fast, international payments. For example, if a trader is making a payment in Euros and needs to send the payment to Canada, then the blockchain from Ripple will immediately convert Euros into XRP and then XRP to Canadian Dollars.
These blockchain products have made Ripple a popular choice for investment from banks, but what does this all mean in relation to XRP as a coin? Is it the best cryptocurrency to invest in? Well, with all the global investment from financial institutions, Ripple is the main cryptocurrency company to have many leading banks as clients, which means that investment money will flow into Ripple’s XRP coin.
This investment flow and company growth is a positive sign for traders to invest in XRP, as it is likely to boost the coin value in the future. Plus, as the XRP cryptocurrency currently has a low price point, it could be the best potential crypto to invest in as it allows the chance of a high investment return, with a low level entry point for investors. Ripple could be an exciting opportunity for traders looking to invest without spending too much capital.
LITECOIN – Cryptocurrency Invest Outlook for 2019
The last in this list of the best cryptocurrency to invest in for 2019, is Litecoin. It is widely known as being Bitcoin-Lite as its founder Charlie Lee wanted to created a ‘lighter form’ of Bitcoin, so it was finally launched in 2011.
Whilst it helps to remember that Litecoin can be similar to Bitcoin, it also has many differences, the main one being that it is much faster than Bitcoin. Litecoin can complete transactions in about 2.5 minutes compared to the 10 minutes it takes with Bitcoin, therefore making Litecoin a popular cryptocurrency choice for traders wishing to make speedy transactions.
The current price of one Litecoin is $90,22* which is an increase from the $31 price at the start of January 2019. This is a positive increase for the cryptocurrency, but is it still worth investing in Litecoin for 2019?
There are a few factors that might appeal to potential traders, the main one being that it provides a cheaper option for traders seeking to perform transactions as there is a near zero transaction fee.
One other reason why it might be the best cryptocurrency to invest in is that compared to many other crypto coins, it has a fairly low market cap. This is always a plus for investors as it means that tokens with a low market cap have high prospects for value growth.
It will be interesting to see if the Litecoin price increases to $100 towards the second half of 2019, but it seems that there is still a lot of potential in this cryptocurrency.
After going through the list above it appears that after all the volatility of 2018, overall cryptocurrency coin prices have stabilized for 2019 which should be a positive sign for any potential investors.
We would always recommend though that before deciding which is the best cryptocurrency to invest in for 2019, traders should always carry out further research themselves on the cryptocurrency before investing. By conducting further research on the cryptocurrency team, blockchain technology and coin price, a trader can feel more assured about any potential investment.
Note: *all coin prices were from the date 22.05.19 and referenced on coinmarketcap