June is becoming rather exciting for the cryptocurrency market. Elon Musk's recent tweet about possibly accepting Bitcoins again as a mode of payment for his company Tesla made the market glee with joy. Bearing all greens, crypto investors are enjoying a sigh of relief seeing their investments blink in green. While this is not the most amazing bullish streak ever, after a tough week for the market, Bitcoin has rallied up to reach a mark that's closer to its all-time high of US$60,000.
If you want to invest in cryptocurrency, this week in June, here are the five best performing cryptocurrencies and their growth patterns compared to each other. Also, here's a guide to help you get started.
As of June 15, Bitcoin's 24-hour chart looks like a mountain range Bitcoin investors will appreciate. After another week of price fluctuations, Bitcoin's price reached the US$40,000 mark thanks to a tweet by Elon Musk. Tesla CEO tweeted about the possibility of Tesla accepting Bitcoin payments again, once it takes the eco-friendly mining route. This made the value rally up and had an impact on the rest of the crypto market as well. With a 24-hour lowest price of US$38,945 and a 24-hour high of US$41,046, with no other big red flags like China's breakdown on cryptocurrencies, Bitcoin is expected to be bullish around a stable value as its 24-hour returns are up by 2.79%.
Ethereum is making the most of its bullish streak with a 24-hour high of US$2,640. Compared to Bitcoin, Ethereum has a higher percentage growth in terms of 24-hour returns at 5.09%. Ethereum logged a 24-hour transaction count of 1.19 million, which is partly because Elon Musk's market shook up. Experts predict that Ethereum's price will increase to US$2,800 by the end of June.
XRP is rallying after a disappointing week. Over the past seven days, XRP lost about 5.38% of its value but is now witnessing a steady growth of 1.75% in the last 24-hours. As of June 15, XRP has a 24-hour high of US$0.929970 after going down to US$0.863368. Thanks to its all green charts, Ripple's XRP has managed to up its 24-hour returns by 1.76%.
Along with Ethereum, Cardano is another cryptocurrency that skyrocketed in the past 24-hours with a 4.20% increase. All charts point towards an upwards projection for Cardano with a 3.73% increase in 24-hour returns. Within this time, Cardano witnessed a low of US$1.51 and a high of US$1.61. Right now, Cardano is expected to hit the US$2.00 mark by the end of the month, making this a promising cryptocurrency to buy.
Off late, Dogecoin went a bit undercover. But thanks to Elon Musk, it revived the plummeted crypto coin again with a 24-hour increase of 1%. While it might seem a lot, it still earns a place in the top five growing cryptocurrencies as per its 24-hour metrics. Its returns increased by 0.80%, making its yearly returns all green with a 6,836% spike. As of June 15, Dogecoin has witnessed US$550.10 million transactions which speak volumes about its relevance in the crypto market.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.