Bitcoin, Ethereum, Dogecoin, Who Will Be The Winner?

By Achal Arya
Published May 6, 2021 Updated May 6, 2021
Best Buy In

Exchanges

Sportsbook

Wallet

btc

Bitcoin, Ethereum, Dogecoin, Who Will Be The Winner?

By Achal Arya
Published May 6, 2021 Updated May 6, 2021

Two week after the flash crash of the crypto market, major cryptos had since recovered. The market has certainly cooled down a bit, and investors are now closely watching Bitcoin, Ethereum, and Dogecoin. 

Bitcoin recovered from its low of $47,000 to $55,000. Bitcoin seems to be in a period of consolidation again, and it needs to crack $56,000 before making its way back to $60,000. Even so, Bitcoin has risen over 80% this year, thanks to the boost of growing adoption from mainstream investors. 

Ethereum set several new records in April and its new ATH is $3,527. It has gained over 300% in 2021 so far. Moreover, Ethereum shows signs of decoupling from Bitcoin. ETH has broken out against the Bitcoin pair, adding technical momentum to its rallies. 

As for Dogecoin, although it saw a 40% sell-off in the past few days, it is still up more than 7000% since January. This means that if you bought $1,000 worth of Dogecoin on Jan.1, you would be sitting on more than $70,000 now. 

What is Dogecoin

Dogecoin was invented partially as a “joke” for crypto enthusiasts in late 2013, with a popular meme of a Shiba Inu dog as its logo.  Dogecoin is a cryptocurrency, but unlike Bitcoin and Ether, it doesn’t have a lifetime cap on the number of Dogecoins that can be mined or a burning system, making it highly inflationary. 

Dogecoin supporters have spent years raising its profile, but it was not until the Gamestop saga that it became famous among the public. Later, Tesla CEO Elon Musk promoted it on his Twitter several times, each time taking the price of Dogecoin higher. 

Bitcoin and Ethereum Remain the Better Buy

Dogecoin’s price surged 20% on Apr 29 following another tweet from Elon Musk. But people are starting to worry about the bubble bursting. 

Why? The development of Bitcoin and major altcoins reveals to us some of the ingredients of success. The first one is functionality. Although Dogecoin payment is relatively faster than BTC and ETH, it falls short of the use cases of Bitcoin and Ethereum. For instance, Paypal and Visa have offered Bitcoin as a payment option and Ethereum can be used to facilitate smart contracts and DeFi. Functionality leads to institutional investor interest. Funds from institutional investors and even the governments are pouring into Bitcoin and Ethereum. They are not so much as buying the recent rallies of cryptos as the future they promise. 

Besides, although BTC and ETH don’t have rallies as crazy as Dogecoin’s, they have multiplied in value since 2020. If you are looking to gain exposure to crypto and invest in the long term, Bitcoin and Ethereum are the ones for you. 

How to Invest?

Futures trading is one of the most popular tools to grow your wealth. You can benefit from price swings to earn money by speculating the direction of crypto’s price. Bexplus is a leading crypto derivatives platform accredited by MSB (Money Services Business). Bexplus offers 100x leverage in BTC, ETH, EOS, LTC, and XRP futures contracts. Headquartered in Hong Kong, Bexplus is trusted by over 100K traders around the world, including the USA, Japan, Korea, and Iran. No KYC, no deposit fee, traders can receive the most attentive services, including 24/7 customer support. 

  • No KYC requirement, registration with Email verification
  • Demo account with 10 BTC for traders to get familiar with leverage trading
  • 100% bonus for every deposit 
  • Intuitive and full-featured App on Apple App Store and Google Play
  • Interest wallet with up to 21% annualized interest
  • 24/7 customer support and analysts service

advertisement

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Achal Arya
512 Articles
I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.

Loading Next Story