The global crisis caused by Covid-19 caused a drastic change in the economy of many sectors. Finances have never been an easy thing to understand and the profitability of certain assets may have varied greatly due to this situation.
The world of cryptocurrencies has been growing gradually from 2014 to the present day and has been very profitable for those who have known how to handle it. But the big question is: After all this global crisis, are cryptocurrencies still profitable for today and for the near future? The answer, except in a few cases, is YES.
In the case of bitcoin, the most important cryptocurrency, during 2020 it exceeded the barrier of 20,000 USD. It is true that it has had downturns down to $ 5,000, although this can certainly have a positive aspect: A profitability of up to 400% in a year to those who were patient.
Currently the most powerful cryptocurrency in the world, Bitcoin has maintained an average in August 2021 of $ 45,000 per unit of BTC. Which represents a price increase of more than 200% if we compare it with the highest price value of the year 2020.
Then we have ethereum that has survived all the complications of 2019 and 2020 very well and has managed to remain the second most important currency in capitalization. It also has the special bonus of being the most predictable cryptocurrency, which provides more security to investors.
On the other hand, ETH has risen in value if we compare it with the end of the year 2020, which was priced at 735 USD per unit of ETH. By August 2021 it exceeded the barrier of 3,000 USD. Representing an increase of 400% compared to the closing price value of 2020. Ethereum as a cryptocurrency has been one of the most quoted cryptocurrencies this year 2021, due to its ease of access and reliability through the smart contracts offered by its platform.
A little further down we find numerous less known but equally profitable options and perhaps easier to access. We have Rippler, which is characterized by being one of the safest; Litecoin, which uses a strategy similar to bitcoin, but focusing on smaller transactions with lower commissions, in addition to others that continue to be among the most highly valued such as Binance Coin or Tether, and some surprises such as Chainlink and Polkadot whose values are on the rise.
In conclusion, the cryptocurrency market has hardly suffered any mishaps due to the coronavirus pandemic, they are maintained and it is expected that they will continue to be the same or more profitable than before the quarantine began. Of course, the world of crypto-assets always carries risks that you should consider before investing your time and money, it takes a lot of patience and being very up to date with what is happening to them, but it has been like that since its inception and this crisis has not this premise has changed practically nothing.