Top 5 Cryptocurrency Update November 2020

This blog is about the current prices and update of the Top 5 cryptocurrencies and how they have been doing over the past few months.

1. Bitcoin

Bitcoin is the most profitable cryptocurrency of the year with an almost 200% increase since January, and it has no signs of price decline. Right now, Bitcoin is in a bull market which is going to drive the price even higher. Within the next month, it could surpass its last highest price, which was last recorded in December of 2017.

Bitcoins price is $25,599 AUD at the time of writing, and the supply of Bitcoin is slowly declining, which is what all Bitcoin investors have been predicting. They are now reaping the rewards of staying loyal to it.

2. Ethereum

Ethereum is setting itself up for an incredible 2021 with their new network set to launch in less than a week. The network was looking like it would not launch as they had not come close to the needed ETH, but as of now, they have reached the threshold of ETH required to launch.

Ethereum's price at the time of writing is $779 AUD

3. Maker

Maker is a hedge currency that is linked to the Dai coin, which has its value pegged to the US dollar and currently, it is not doing so good. There is a lot of doubt in the US dollar right now, and the price of Maker is reflecting that. Makers price is $772 AUD at the time of writing, but over the past 5 months, it has been more volatile than standard crypto, which is something you do not want from a stable coin.

4. Litecoin

Litecoin has had an exciting year when it comes to price and has mirrored the big two (Bitcoin and Ethereum) which has kept it in the conversation among investors. Litecoin's price is $112 AUD, and since it does follow a similar pattern to Bitcoin, we can expect it to continue its rise in 2021.

5. Bankcoin Reserve

Bankcoin Reserve has its price pegged to the ceiling price of Gold, and over the past 12 months, it has been a little volatile due to the current global climate. Around April when most countries were locking down, and most cryptocurrencies took a price dip, Bankcoin Reserve did much better and outperformed them.

This last month it did take a significant dip, and although it has recovered, that dip has made some people worry of this stable coin as it dropped over $600 in just one month. Bankcoin Reserves price is $2,549 AUD at the time of writing.

We are living in an excellent time for cryptocurrency as most are set for an incredible 2021.

To keep up to date with all cryptocurrency prices, use our crypto tracker where we give you hourly updates on all available cryptos on the market.