Bitcoin is the leader when it comes to cryptocurrency and with the bullish market continuing to push the price of the token back towards its previous highs and predictions that a breakthrough could be coming and new clear skies await, it looks like you may want to increase your earning potential while splitting your portfolio.
With a number of coins showing similar trends that follow the behaviour and patterns of bitcoin, increasing your potential returns while spreading your risk can be achieved through buying coins that move closely with the movement seen in the bitcoin market.
Here are the other cryptocurrencies that you should be looking to hedge your investments on to get the additional opportunity to sweeten those gains.
Ethereum is the market’s silver to the bitcoin gold and with a huge mainnet that will underpin a large number of apps and services and with the potential to see largescale gains as high as 10x over the coming couple of years, making sure that you hold some Ether will ensure that you double your opportunity to profit from a potentially bullish alt coin season.
While a lower priced option to Ethereum, it makes use of the same service to the market which will make sure that it is breathing down the neck of ETH while we await the rollout of Ethereum 2.0.
With what many deem to be better technology behind it, the most bullish supporters claim that they could find their own marketshare from the ETH hemisphere should the 2.0 mainnet fail to deliver.
Litecoin has been around for a number of years and stood the test of time in relation to its position as being one of the highest ranked cryptocurrencies and with the trend seemingly happy to follow the patterns seen with Bitcoin, making sure that you have some of this within your portfolio is a great opportunity to further see those financial gains.
Chainlink are based on the Ethereum network and has been designed to allow smart contracts to be securely connected to external data, making it widely seen as the leader in that space. This means that while ETH is on the move, Chainlink should be following suit.