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The popular YouTube-based crypto outlet Altcoin Daily is naming Bitcoin, Ethereum (ETH) and Cardano (ADA) as the top three crypto assets for 2021.
In a new video, Altcoin Daily host Aaron Arnold explains to viewers why he’s bullish on top cryptocurrency Bitcoin, top smart contract platform Ethereum and Ethereum’s close competitor Cardano as the crypto market works to recover from its late-May crash.
The trader notes that though many projects, including the three mentioned in the video, have significantly increased in value over the past year, there are many opportunities for investors to increase their wealth with the right crypto picks.
“There is so much opportunity in cryptocurrency right now. If you missed out on the early years of the internet, you better cherish the early years of Bitcoin, decentralized finance (DeFi) and crypto right now. And just like the early years of the internet, this opportunity will not last forever.”
On Bitcoin, Arnold is bullish on the flagship cryptocurrency even as it struggles to regain the $40,000 price level and the Bitcoin fear and greed index remains in the “fear” zone.
“When there is fear in the market, this is an opportunity for greater opportunity and there is fear in the air.”
Arnold adds that the current sentiment in the crypto markets is nothing like it was during the crash of 2017, at which point everyone expected a short cooldown period before another leg up that never came.
Additionally, the Bitcoin taproot upgrade is coming up, which will help keep Bitcoin in the news. The upgrade will enhance Bitcoin’s privacy, speed up transaction rates and reduce the quantity of data stored and transferred on the blockchain, says Arnold.
Ethereum also has an upgrade coming up in 2022, notes Arnold, which will keep the asset in the news. ETH’s new version will not only capture a lot of the ETH supply, as people stake their Ethereum on ETH 2.0, but will also increase the efficiency of the blockchain as the platform moves from a proof-of-work to proof-of-stake consensus method.
Additionally, much of ETH’s supply is locked up in popular DeFi platforms, causing a further supply crunch for the asset, adds Arnold.
Arnold is also keeping an eye on Cardano heading into the rest of the year, as the platform gears up to introduce fully functional smart contracts in the coming months. The team successfully launched the Alonzo testnet recently, spelling a bullish case for the Charles Hoskinson-led Ethereum competitor.