When it comes to the cryptocurrency market, there are numerous price determining factors. These essentially fundamental and technical factors contribute to the highly volatile state of the crypto market. However, these metrics are still giving us important signals. Although there are a handful of promising cryptocurrencies on the market, the top three cryptocurrencies listed below have repeatedly performed very well in previous years, according to popular analyst and expert Adrian Klent. Some altcoin projects hold great bullish potential for the near future, according to the analyst.
The leading crypto currency Bitcoin (BTC)
Bitcoin is one of the best performing cryptocurrencies in 2021. The cryptocurrency has grown nearly 700% from 2020 and has remained one of the top earners since then. The highest ever Bitcoin price was $ 42,000, and this level was achieved hours ago.
Although Bitcoin was trading at slightly lower than $ 40,000 at press time, analysts insist that the chances of falling below $ 20,000 are very slim. Looking at on-chain price measurements and other indicators, Bitcoin predictions for 2021 are tremendously upward, according to Adrian Klent. According to the analyst, BTC is expected to rise to $ 100,000 by the end of the year, if this happens, there will be a price increase of 222%.
Leading altcoin Ethereum (ETH)
Ethereum (ETH), like Bitcoin, is on the extreme bullish trend, according to the analyst. The second most valuable cryptocurrency is already setting new peaks. Unlike most altcoins, ETH is said to have an "unfair advantage", according to the analyst. ETH increased 300% in 2020 thanks to DeFi projects. Promising a cheaper transaction fee and faster transaction time, Ethereum's network upgrade could send ETH higher than ever before, according to Adrian Klent.
Ethereum's highest price in 2021 is currently $ 1,280. According to the analyst, a 25% increase will push Ethereum above $ 1,433, 2017's all-time high. The Ethereum upgrade, coupled with increased investor interest, is likely to send the cryptocurrency above $ 2,000 before the end of the year, according to the analyst.
Strong altcoin Yearn.Finance (YFI)
The new player on the list is a cryptocurrency famous for its bull rallies. Yearn.Finance is trading bullish at its current price of $ 38,700. These levels are commendable for a cryptocurrency that was launched six months ago. However, YFI is still below the record level of $ 43,873.
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According to Adrian Klent, as the billion dollar value of DeFi continues to increase, the cryptocurrency of 600 million will increase. Essentially, DeFi is already well positioned for a groundbreaking rally, according to the analyst.
Analyst: These 3 altcoins are preparing for a major rally in 2021
Other high-performance cryptocurrencies such as Chainlink (LINK), Wrapped BTC, Litecoin (LTC) are also preparing for a major rally in 2021, according to Adrian Klent.
