Cryptos Flying High this Week – Here’s Why

The crypto market is abuzz with news that five of the market’s biggest coins are predicted to experience some hefty gains this week alongside Bitcoin. In the spirit of celebrating everyone’s favorite digital money maker, let’s take a look at the five cryptos that are almost guaranteed to light up your week! (crypto pun very much intended)

1. Bitcoin (BTC)

This is almost a given (it is the OG after all). Bitcoin has performed impressively well over the past few months, rocketing from the lower $5,000s in May to a high of over $11,000 at the time of writing.

2. Ethereum (ETH)

Ethereum is also no stranger to market volatility, so it shouldn’t surprise anyone that this one is on the list. Ethereum is riding high right now and its network transaction fees are at an all-time low.

3. XRP (XRP)

XRP is often referred to as the “silver to Bitcoin’s gold”. The cryptocurrency has been climbing steadily over the past month and is currently trading at around $0.30.

4. Tezos (XTZ)

Tezos has become an increasingly popular name in the crypto space lately. Thanks to its recent governance reforms, Tezos has seen a steady increase in usage, and the coin is nearing the $2 mark at the time of writing.

5. Chainlink (LINK)

Chainlink’s price has been on a downward trend for some time, but that appears to be changing fast. The coin is currently trading at over $8.50 and is showing signs that it could hit the $10 mark soon.

So if you’re wondering why these particular cryptos are predicted to shoot up in price this week, the answer is simple: they’re all the right kinds of coins (boom-shaka-laka).

So, What Gives?

Here are a few reasons why these coins may experience large gains this week:

  • Institutional investors coming into the market in force: as more institutional money and high net worth individuals enter the crypto market, coins like Bitcoin, Ethereum, XRP, Tezos and Chainlink stand to benefit from large sums being invested in short spans of time.
  • Increasing adoption of new technologies: cryptos are becoming increasingly used as means of payment and more retailers are accepting them. This, in turn, is boosting the demand for the coins and driving up their prices.
  • Strong fundamentals: all five of these coins have strong and established protocols which have made them stand the test of time. This ensures that their prices are not overly volatile and are more likely to grow over time.

So, What’s The Catch?

You guessed it: as with any market, nothing is guaranteed. Success in trading cryptos is as much about market timing and luck as it is about skill. So be sure to do your own research before investing in anything. And remember, only invest what you can afford to lose.

Happy trading!