As far as investment options are concerned, cryptocurrencies are steadily rising in popularity and profitability. The concept would have been unfathomable a few years ago. But digital currency like Bitcoin has already hit the $62,000 mark, attracting many regular investors to the cryptocurrency market.
Interested in investing in cryptocurrency? Here are the top 5 cryptocurrencies that are likely to bloom in the month of September.
1. Bitcoin (BTC)
The most well-known cryptocurrency, Bitcoin, is the most lucrative as well. Most trading platforms accept Bitcoins. As of 27 August, Bitcoin’s 20-day exponential moving average (EPA) is $46,823. In case the price falls down from the current level, the value of Bitcoin might shrink to $42,451. But, if the price goes up from the current level, Bitcoin could reach $50,500 for a few more days.
2. Cardano (ADA)
The ‘green cryptocurrency’ known for consuming less energy than the bitcoin network and the mining process, could be another good investment. In case the buyers maintain the price above the barrier at $3, an uptrend could induce growth up to $3.50.
The Luna token is experiencing a strong uptrend. If the target of moving up to $43 from $26.42 is met, then this cryptocurrency could go up to $50. But if prices break below the moving averages, the value could drop to the support zone of $22.40 to $20.81.
Designed to support decentralized apps, Ethereum is the second-largest crypto unit to capitalize on the market. It has the biggest base of blockchain developers. Ethereum has already proved to be profitable for its investors in the past months. It is expected to continue its rise.
5. Binance Coin
The value of Binance Coin has shot up in 2021. This leading trading platform for cryptocurrency offers discounts on trading fees, transaction fees, etc., making it popular among investors.