The best cryptoskills of 2020 in terms of trading

The best cryptoskills of 2020 in terms of trading

  • The BTC share price surpassed its former historical high on December 1, 2020.
  • The winner in terms of annual earnings is the AAVE token.
  • The BAND and OCEAN tokens have fallen below their structure.

The year 2020 was marked by a considerable increase in a number of cryptomoney schemes, some well-known and some less so. Bitcoin (BTC) set a new record on 1 December, which it surpassed on the weekend of 27 December, while several small altcoins reached their highest level in August.

The year 2020 has been a very interesting year for traders active in the world of cryptography. It began with a Crypto Wealth a relatively stable movement in the form of a gradual increase. This created an upward bias, as the BTC made several attempts to surpass its 2019 peak of $13,880.

However, this was not a real sign of things to come, as everything changed in early March. Potentially fuelled by the negative news from the fallout from the coronavirus pandemic, the BTC fell sharply along with the rest of the market.

The picture below shows the price of S&P 500 (orange), BTC (green) and oil (blue) in March, the month in which their values evaporated by 37%, 54% and 57% respectively.

BTC Price Movement

On March 12, the BTC fell by 39% in one day, the largest percentage drop in history. The next day, the price reached its lowest level of the year at $3,850. It is interesting to note that this is still the lowest price of the year, as the BTC has since experienced an absolutely massive rise.

On December 1, the BTC hit a new record high of $19,918, but has since surpassed it several times, reaching a high of $28,377 on December 27. On 28 December, the BTC was up 280% year-to-date, trading at $27,000 compared to $7,200 on 1 January.

The outlook for cryptomoney for the year 2021 is resolutely bullish, both technically and fundamentally. Institutional interest is increasing considerably, as evidenced by the building up of stocks of cryptomoney by the Grayscale Investment Trust.

Cryptocurrencies with the highest gains

In this article, we will look at the five pieces that increased the most during the year. Only coins ranked in the top 100 by market capitalization will be considered, and increases will be rounded up to the next whole number.

Here are the top five and their growth rates:

  • AAVE (x50)
  • KSM (x39)
  • BAND (x27)
  • Celsius (x16)
  • OCEAN (x10)

As a point of reference, the BTC has increased by about 2.4 times during the year, at the time of writing. The measurement period starts as soon as coins are listed on a major exchange, so some coins such as YFI and YFII are not included.