5 Promising Cryptocurrencies That Might Make Big Moves in 2020

Like any investment, the cryptocurrency market has its ups and downs. However, the market recovered in 2019 and shows signs of huge growth potential for 2020. You can get the most out of this capitalization if you invest in promising cryptocurrencies.

You may think only experts can figure out how to make the right plays when investing in crypto, but that’s far from the truth. It all comes down to doing your research and learning as much as you can about the market.

Don’t know where to start? We’ve got you covered. Here are the top 5 cryptocurrencies to watch in 2020.

1. Bitcoin

With its ups and downs, Bitcoin remains one of the most popular crypto investments. This popularity will make it the crypto investment with the largest capitalization in the market.

This cryptocurrency experienced a massive decline in value last November. However, Bitcoin’s market capitalization will help it rise in the market in 2020.

2. Litecoin

While Litecoin isn’t as big as Bitcoin or Ethereum, it represents a good opportunity to capitalize on its market potential. If you choose to invest in this cryptocurrency, you won’t risk a lot since it’s one of the cheapest investments on our list.

Buying low isn’t the only advantage of Litecoin. This crypto investment has the potential to become a global transaction network making it a great addition to any portfolio.

3. NEO

The price and versatility of NEO make it a crypto investment with high growth potential. This cryptocurrency combines real and digital assets. Its features have placed this investment under the Chinese government’s radar making it even more appealing to investors.

If China decides to invest in this cryptocurrency, NEO will turn into a major player in the crypto market. It may even become the most profitable cryptocurrency in 2020.

4. Ethereum

Ethereum’s popularity might have it at the top of your list. While its price is on the higher end, this crypto investment showcases growth potential for 2020.

The demand for its smart contracts may increase its value. However, the lack of recognition of Ethereum as an altcoin may impact its growth potential. While Ethereum may look like a safe bet, you should monitor it closely before taking the plunge next year.

5. Ripple

This cryptocurrency may be the cheapest option on our list, but it has been making headlines due to its technology. Companies such as Western Union and Visa are considering using Ripple’s technology to speed international payments. If the banking industry embraces this technology, the value of this crypto investment will skyrocket.

While growing your crypto portfolio is the ultimate goal, you should also keep in mind any potential tax liability. You should consider getting a simple crypto tax software to make sure you meet your tax obligations.

Will Investing in Promising Cryptocurrencies Make a Difference?

Making the best crypto investments is a science that comes down to learning about the market and monitoring the most promising cryptocurrencies. However, it will depend on your strategy and investment objective.

While it may be difficult at first, you’ll learn to time the market as you keep making investments. Use our cryptocurrencies watch list as your guide to plan your investments for 2020. Keep in mind not all crypto investments will fit your strategy so you should adjust your plan according to your investment purpose.

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