- Top cryptocurrencies of this year.
- Cryptocurrencies that you should invest in for high returns.
Cryptocurrency introduced a new and great option to invest in for many traders. Moreover, there are a ton of options for this cryptocurrency that you can choose to trade or invest in according to your liking. As it may not gain widespread popularity and acceptance instantly.
So let’s have a look at some cryptocurrencies that are making great moves this September and should gain the attention of traders for high returns.
Bitcoin
After a tough 2022, Bitcoin is set to make a comeback this year with a rise from $16,000. However, the prior peak still seems far from $69,000. Furthermore, September could be positive for Bitcoin as many cryptocurrency users are looking for a retirement-account-friendly Bitcoin-based fund. However, such a cryptocurrency fund does not exist yet, as many governments work slowly in the cryptocurrency department.
There is, however, The Grayscale Bitcoin Trust (GBTC), which is based on over $16.3 billion of Bitcoin holdings, but it’s more of a mutual fund than the fluid exchange-traded fund that most traders look for. Another setback is that it can not show the real-time price changes of Bitcoin that many exchange-traded funds (ETFs) show. GBTC currently shows a 21% discount on the discounted price of Bitcoin cryptocurrency.
Even though GBTC did apply for a change to a Bitcoin ETF, the Security and Exchange Commission rejected this appeal in 2021 last year.
Ethereum
Ethereum has established its position as a strong cryptocurrency player and its upcoming update, ‘The Merge,’ has created a much more optimistic feeling in many traders and investors.
This upcoming big update will change Ethereum from a POW (proof-of-work) network to a POS (proof-of-stake) network. This update will reduce Etherums’s energy usage significantly by a massive 99% reduction.
This update will enable this cryptocurrency to compete with many smaller cryptocurrencies, such as Solana and Cardano, that already use a POS protocol. It will also increase the speed of trades and transactions in the Ethereum network for many future updates.
The merge is already on its way, with the developers set to launch the first update on September 6. The final piece is expected to be finished somewhere between September 11 and 13.
Conclusion
Whether Ethereum will turn out to be a profitable cryptocurrency investment for you or not will be based on your choices and preferences. However, we consider Ethereum to be a good choice for anyone who is looking for a long-term investment, as it would take quite a few years to provide benefits to its investors and prove to be profitable.
The same goes for Bitcoin, as this cryptocurrency would still take many years to reach its past glory and provide benefits to its investors. So the only thing that you should keep in mind is that you should do good research before investing in any cryptocurrency and this goes for experts and novices alike.
