New year, new resolutions – that we will never hold – and the results of the previous year: 2020 was favorable to Bitcoin (BTC), Ether (ETH) and Elon Musk’s big doggie who recorded a considerable gain over the 12 months.
More than 500% profit for the big doggie
Bitcoin continues its ascent by reaching new ATH. The BTC is trading over 35,000 USD at the time of writing.
As for altcoins, most are still a long way from their all-time highs, reached during the bullish rally 3 years earlier, in 2017. TheEther is about 27% of its ATH from its current price of $ 1,120.
The Dogecoin (DOGE) is one of the few altcoins to have performed well in 2020 with an increase of 294% for the month of December 2020.
An investor who would have bought DOGE at the start of 2020, would have benefited from gains of over 535% on the pair DOGE/USD.
Not the rating on TikTok but, a good rating on the markets
Dogecoin exists since 2013 and was originally developed by Jackson palmer and Billy Markus.
The objective of DOGE is simply to allow its users to have fun and reach as wide an audience as possible.
The outstanding supply of Dogecoin is much higher than that of Bitcoin. It is currently estimated at 127 million tokens.
Many analysts believe that the founder of You’re here, Elon musk, is at the origin of this renewed interest in DOGE. Musk posted on his profile that he was the former CEO of Dogecoin.
The followers of DOGE tried to increase its price via TikTok. Although this strategy was a failure, it did not prevent the DOGE to experience strong growth in 2020.
Crypto Created for Fun: No wonder government institutions loathe cryptocurrency? Only governments have the right to play Monopoly when they run the printing press empty. Bitcoin is reportedly targeting $ 100,000 by the end of 2021. Altcoins could also have a good year if the long-awaited alteration materializes. Ether benefits from the launch of the beacon chain in early December 2020, the explosion of staking on ETH2, and the possible release of other key features in the new version of the network. The DOGE could continue to show off and seduce new cryptophiles
Litecoin, welcome in the Silver Age