Three of the Top Performing Cryptocurrencies for August 2019
More than a decade after Bitcoin first hit the public psyche, and nearly two years since Bitcoin hit a high of $20,000, cryptocurrencies have gone mainstream.
Governments and institutions alike have just begun to warm up to them, as an alternative means to banking. And while the U.S. SEC has been slow to green light ETFs, there’s still plenty of momentum and interest. Even Crypto Mom, as SEC Commissioner Hester Peirce is affectionately referred to as still supports cryptocurrency investing.
“We need to allow people that are interested in this space [crypto] to be involved with it in a way that is within the regulated framework. Understanding that investors have to make their own decisions, we can’t make those decisions for them,” she said as quoted by Bitcoinist.
As excitement continues to build in the crypto-sphere, some of the hottest coins to watch include:
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Since January 2, 2019, BTC has rallied from $3,909 to $10,323 after testing a high of $13,835 in late June 2019. After finding support at current prices, we could see a potential test of $12,000, especially as we near the Bakkt listing. In fact, it’s been finding momentum after the Bakkt exchange announced it will be launching Bitcoin futures on September 23, 2019.
Ethereum Classic (ETC)
Since the year began, ETC has run from a low of $5.38 to a high of $9.77 before pulling back to its current price of $7.27. In recent weeks, the coin has picked up considerable momentum.
For one, the ETC Atlantis Fork is scheduled for September 2019, and is expected to help improve security. And two, token investment group, North Block Capital just joined the Studio Program of the blockchain developers. Three, ETC will hold its annual ETC Summit in Vancouver, October 3-4, 2019. It’s not unusual for a coin to run up prior to such events.
It’s not one of the most widely known coins, but it’s been one of the most explosive of the year. On January 2, 2019, it traded at just $0.0082. It’s now up to $0.1381 -- a 1,584% move. According to Coin Market Daddy, “EKT's multi-chain architecture can be expressed as ‘multi-chain multi-consensus, one-chain-one-coin,’ and multiple chains extended based on the EKT main chain can have their own main currency and consensus algorithms.
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