The digital currency space is highly competitive. Every digital currency wants a spot among the top cryptos in the market. Digital asset investors are also on one side looking for the best cryptocurrency to invest in. while the best cryptocurrency to invest in 2019 has been the search of many digital asset investors, many digital currencies out there are proving to be a great investment option. So far this year, there has been a significant change in the prices of cryptos in the market. Some digital currencies have amassed gains of more than 500 percent this year.
However, there seems to be only one king in the digital currency space and that is Bitcoin (BTC). Bitcoin (BTC) has been holding the number one spot on the list of top cryptos since the market emerged. However, there are a lot of altcoins that are now competing with Bitcoin (BTC) in terms of return on investment. One digital currency that has recorded a considerable return on investment since its emergence is XRP (XRP). XRP is the third-largest digital currency by market cap.
Bitcoin (BTC) Price Today – BTC / USD
The price trend of XRP over the past years have been pretty impressive, and many digital asset investors consider it as one of the best cryptocurrency to invest in 2019. Nevertheless, the recent price trend in the market not been favorable to the altcoin market, and only Bitcoin (BTC) is currently proving its dominance.
Bitcoin (BTC) Is Heading for $11k Proving It’s the King of Cryptos – Cryptocurrency News Today – Best Cryptocurrency to Invest in 2019 – Cryptocurrency market Update
Bitcoin (BTC) is the most dominant digital currency in the crypto market. At the time of writing, the dominance of Bitcoin (BTC) is at 66 percent according to CoinMarketCap. Bitcoin has been tagged the king of cryptos for about a decade. Recently, Lex Kruger – a digital currency analyst and economist – tweeted that a lot of altcoins have “become asymmetric bets with an unattractive return profile.”
Besides the massive bull run by altcoins from February to early April this year, that saw some altcoins surge by about 500%, the performance of altcoins against Bitcoin since April has been very poor. According to data released by Coin Metric last week, in the month of July, the prices of most altcoins in the market plunged by more than 40 percent. This massive plunge came as a result of Bitcoin (BTC) dropping by just 2 percent at the time the report was released.
According to the report, the price of EOS plunged by 44 percent. COSMOS – which is another top performing altcoin – dropped by 41 percent. The price of Cardano (ADA) – the 12th largest cryptocurrency by market cap – dropped by 37 percent. Tezos and Vechain were down by 6 percent and 10 percent respectively.
Bitcoin (BTC) Is Recovering, Leaving Altcoins Behind – Best Cryptocurrency to Invest in 2019 – Cryptocurrency News Today – Cryptocurrency Market Update
Among the top ten cryptos in the market, Bitcoin (BTC) is the highest gainer over the past day. The price of Bitcoin (BTC) is up by more than four percent over the past twenty-four hours while other coins are struggling to break out of their range-bound. The only altcoin among the top ten that is also trading in the green is Bitcoin Cash (BCH). Bitcoin is currently trading at $10,828 and its market cap has risen to $198.34 billion.